Allwyn hunts new sportsbook deal after Novibet acquisition collapse
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- Allwyn and seller Logflex MT Holding jointly withdrew the Novibet transaction from Hellenic Competition Commission review in early March after remedies considered during the process failed to maintain the value of the deal.
- CEO Robert Chvátal confirmed Allwyn is already exploring other options to acquire proprietary sportsbook technology.
- The company also discussed the competitive advantages of its PrizePicks acquisition for the growing US prediction markets space.
Allwyn International is back on the acquisition trail for sportsbook technology after its proposed acquisition of Novibet was terminated in early March 2026.
The deal ended prematurely following competition concerns raised during review by Greece’s Hellenic Competition Commission, with the lottery-led operator actively exploring alternative deals to bring its sportsbook technology in-house.
Allwyn and seller withdraw from HCC review
Allwyn and seller Logflex MT Holding jointly withdrew the transaction from Hellenic Competition Commission (HCC) review after serious competition concerns were raised, with iGR understanding that remedies which had been considered failed to maintain the value of the deal.
A central part of the transaction was access to Novibet’s online sports-betting and gaming platform. Speaking on Allwyn’s FY25 earnings call, CEO Robert Chvátal acknowledged the setback but indicated the company’s ambitions remain intact.
Chvátal said:
“This interest in the sportsbook technology remains on the radar of Allwyn. We have already started exploring other opportunities when it comes to sportsbook technology, to maybe solidify our sportsbook position in some markets of Allwyn.”
Proprietary tech a strategic priority
CFO Kenneth Morton elaborated on the group’s wider tech strategy, explaining that a key priority was to bring sportsbook technology in-house. The company considers proprietary technology an “important differentiating factor and driver of success in the long term.”
Morton said:
“Sports betting is the one bit that we don’t currently have in-house, which we do think is strategically important. So we certainly see benefits to having it in-house, but as Robert said, there are many other ways that we can achieve that.”
On the lottery side, Morton noted that Allwyn already has most of what it considers strategically important in-house, though not necessarily rolled out across the full portfolio. Proprietary sportsbook platform technology remains a key outstanding gap.
In parallel, Allwyn continues to pursue its OPAP merger, which received shareholder approval in February and is expected to create a combined business valued at €16 billion.
PrizePicks positioned for prediction markets
The earnings call also highlighted the strategic rationale of Allwyn’s PrizePicks acquisition. The deal to acquire a 62.3% stake in the daily fantasy sports operator included an initial cash consideration of approximately $1.6 billion, with additional performance-contingent payments of up to around $1.0 billion in 2029, based on metrics over 2026 to 2028. The acquisition completed in January 2026.
Morton outlined why PrizePicks is well-placed to capitalise on the growing US prediction markets space, pointing to its large national user base and established brand as key advantages over competitors. Morton said:
“A number of operators have launched with three apps — DFS, OSB and predictions in separate apps. Essentially, to some extent you’re having to acquire the same customer three times. That’s not the case for PrizePicks. On day one they went live with predictions within their DFS app, which is obviously better for the user experience, but it’s also much better from the customer acquisition cost perspective.”
Results steady as strategy takes shape
On Allwyn’s overall FY25 performance, net revenue rose 4% year-on-year to around €4.1 billion, while adjusted EBITDA also increased 4%, to around €1.6 billion. Chvátal described 2025 as a “pivotal year” for the group. Chvátal said:
“The significant steps taken this year further strengthen our platform and position us well to deliver sustainable long-term value as a listed company.”
The termination of the Novibet transaction leaves the acquisition of proprietary sportsbook technology as a key strategic priority for Allwyn. With the OPAP merger advancing, PrizePicks embedded in the group, and lottery tech largely in-house, securing a proprietary sportsbook platform remains the most significant outstanding item on the company’s agenda.
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