Allwyn announced an agreement to acquire a 51% stake in Logflex MT Holdings, Novibet’s parent, for €217m in cash. The deal may include a further €110m in performance-based payments; Novibet is expected to continue under its existing brand and management after completion.
The proposed stake would expand Allwyn’s online gambling business while Novibet is expected to retain its existing brand and management.
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Novibet appointed Yiannis Stravroulas as chief technology officer, with responsibility for technology infrastructure, product innovation and customer experience. The company said he would support its technology strategy; Stravroulas described plans for international expansion across 10 countries in three continents.
Allwyn chief executive Robert Chvátal said the company is exploring alternative sportsbook technology opportunities after withdrawing from its proposed Novibet acquisition following feedback from Greece’s Hellenic Competition Commission. Allwyn said bringing sportsbook technology in-house remains strategically important, while finance chief Kenneth Morton noted there are other ways to achieve that goal.
Alliance Party MLA Sian Mulholland introduced a bill to loosen restrictions on large-scale charity lotteries in Northern Ireland. Hillary Clinton endorsed the proposal, while Allwyn warned it could leave existing good causes £5.4m short annually within five years; Mulholland said charity lotteries and the National Lottery offer different products.
Allwyn announced agreements with Kambi to develop a proprietary sportsbook platform and plans to acquire the remaining 30% of Instant Win Gaming. The Kambi agreements provide Allwyn with a perpetual global source-code licence and services, for consideration of €50 million over three years to 2029; about half is expected in 2027.
Allwyn announced agreements with Kambi Group to develop its own sportsbook platform and plans to buy the remaining 30% of digital instant-game supplier Instant Win Gaming (IWG). The platform is intended for online and retail betting.
Allwyn is reportedly planning to bring its sportsbook in-house after agreeing a source-code arrangement with Kambi. The operator also reportedly announced a deal to acquire IWG’s remaining shares.