Allwyn International recently announced that it has terminated the acquisition deal with Novibet after receiving feedback from the Greek Competition Commission. Allwyn stated that although both parties submitted "well-considered plans" to the commission, given the regulator's feedback, the transaction was expected not to proceed. In plain terms, the remedial measures could not be agreed upon, and this deal, which had been discussed for 15 months, ultimately fell through.
Regulatory Gaming: Remedial Measures Unable to Sustain Transaction Value
Allwyn emphasized that the company only pursues transactions that can create value for shareholders. According to iGB, after a lengthy antitrust review by the Greek Competition Commission, the various remedial measures considered and discussed by both parties could not maintain the original value of the transaction. Therefore, Allwyn and Novibet owner Logflex MT Holding Limited jointly decided to withdraw the transaction application.
Transaction Review: €217 million acquisition of 51% stake
Allwyn first announced the acquisition agreement on December 30, 2024, planning to acquire a 51% controlling stake in Novibet's parent company Logflex MT Holding Limited for €217 million in cash, with an additional payment of up to €110 million based on Novibet's future performance. The transaction was originally expected to be completed in the second half of 2025, at which time Allwyn CEO Robert Chvátal stated that it would enhance the group's development momentum and bring significant innovative potential.
Market Position: Novibet firmly holds the second place in Greece's licensed online sports betting market
According to H2 Gambling Capital, Novibet ranks second in the Greek licensed online sports betting market, holding about 19%-20% of the market share. As it stands, this deal has fallen through, 15 months after it was initially announced. iGB understands that any future potential deals will be significantly different from the original agreement.
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