Announced this morning (30 December), Allwyn has proposed a €217m cash payment, plus €110m in potential performance-based earnouts, to the investors of Logflex MT Holdings in exchange for a majority stake in Novibet

According to Allwyn, the investment will enhance its technology and operational resources for online gambling, with Novibet employing 1,000 staff across hubs in Malta, Greece, and Brazil, and maintaining a market presence in Brazil, Cyprus, Greece, Ireland, and Mexico.

Dealmakers stated: “Allwyn’s acquisition of Novibet enhances the group’s technological capabilities, as well as strengthening its position in the online sports betting and gaming markets, in line with Allwyn’s strategy of making selective acquisitions in relevant products, technologies, and content to support its growth.”

Confirming Allwyn’s M&A intent, Group CEO Robert Chvatal said: “Novibet has demonstrated its ability to expand across multiple markets and innovate, which will strengthen our momentum and enhance our offer to players.

“The innovation potential of this transaction is substantial as we look to provide our customers with the very best experience in online sports betting and gaming. Novibet has a world-class team, and we look forward to capitalising on the international opportunities ahead.”

Following the deal, Novibet will remain under the leadership of its founding management team, which will continue to oversee operations after the transaction is completed. The company will continue to operate independently, maintaining its current brand and management structure.

Since 2022, the board of Novibet has revised strategic options to enhance the firm’s capital liquidity and growth plans, which previously included a $700m IPO via a SPAC merger with Artemis Investment Corporation – a deal abandoned in 2023.

Founded in 2010, Novibet is recognised as Greece’s second-largest online gambling group and has expanded its presence in the regulated markets of Italy, Malta, and Ireland. Management sees further growth opportunities in Romania, Hungary, France, and Spain.

George Athanasopoulos, CEO of Novibet, added: “Joining Allwyn marks the start of an exciting new chapter for Novibet. Allwyn’s dedication to growth opportunities was a key factor in our decision, and we look forward to combining their extensive resources and expertise with our leading technology and operational experience.

“This partnership will accelerate our ability to develop proprietary solutions, expand our product offering, and extend our success to a much larger international audience at a faster pace. 

“We also want to recognise the passion and dedication of the entire Novibet team, whose unwavering commitment to our long-term vision has been integral to reaching this milestone. With their continued support, we remain committed to delivering exceptional value for both our customers and our shareholders.”

The post Allwyn acquires 51% stake in Novibet to expand igaming footprint appeared first on CasinoBeats.

Under the partnership, NetBet will adopt Flows’ no-code automation platform to enhance efficiency, improve player engagement and solidify its market position.

The platform aims to eliminate development obstacles and reduce resource constraints, allowing NetBet to easily create and launch new features and products, from gamification tools to player protection measures.

Anna Olrik Wallenstein, Head of Operations at NetBet, commented: “Partnering with Flows is a key step forward, enhancing our efficiency and allowing us to deliver tailored player experiences faster. This collaboration underscores our commitment to staying a top choice in the online sports and casino markets.”

With this technology, NetBet can manage custom promotions, organise tournaments and address compliance requirements in real-time. 

James King, CEO at Flows, expressed his excitement about NetBet highlighting the value that Flows brings to the table.

“It’s fantastic to see a leading operator like NetBet truly recognise the value add that Flows can bring to the table,” King added. 

“From the very start, our mission has always been to simplify and accelerate the delivery of innovation throughout the digital landscape and it’s wonderful to see more and more companies adopting Flows into their tech stacks to do just that.”

In October, Flows signed a similar deal with Amelco, which saw operators powered by Amelco gain access to Flows’ advanced no-code technology. 

The post NetBet takes ‘key step forward’ with Flows partnership appeared first on CasinoBeats.

“Football Media will be working with TG.Casino on maximising the collaboration through multiple activation strategies, enabling current and new customers to utilise assets associated with the AC Milan partnership, as well as providing a platform for innovation around Web 3.0, igaming and tokenization.”

Through the partnership, $TGC token holders will have the chance to win exclusive experiences with AC Milan, including visits to the Milanello training centre, official jerseys and VIP access to San Siro stadium events.

Akinjobi added: “This will also open up opportunities for $TGC token holders to have the unique opportunities to win lots of experiences offered by AC Milan, as part of our tailored partnership activation strategy.”

The intersection of crypto and football has grown significantly in recent years, with clubs like Manchester City and Borussia Dortmund leading the way with partnerships in the cryptocurrency realm. However, this agreement represents an even further step by venturing into the crypto gambling sector.

“In order for football club sponsorships to be successful, it takes an appetite, willingness and flexibility from all parties to achieve collective goals,” Akinjobi continued. 

We’ve definitely established this here, and will be ensuring that our planned marketing and activation strategies help to maximise the collaboration.

“The plan is to engage with crypto and Web 3.0 audiences across Telegram, as well as educating Web 2.0 audiences about Web 3.0 services. The partnership with AC Milan will enable TG.Casino to achieve this at scale, supported by the growth of Telegram and our planned marketing and activation strategies.

“It’s very exciting times ahead as we’ve created a major opportunity for our client TG Casino, to lead and establish a market around new igaming innovations using Telegram and Web 3.0, with one of the biggest football clubs in the world, in AC Milan.”

The post AC Milan announces TG.Casino as official igaming partner appeared first on CasinoBeats.