Allwyn International has abandoned its planned acquisition of Novibet following concerns raised by Greek competition authorities.
The company confirmed it jointly withdrew from the transaction with Logflex MT Holding, Novibet’s parent company, after receiving feedback from the Hellenic Competition Commission. Both parties determined that proposed remedies would not deliver sufficient value to justify proceeding.
The deal, initially agreed in December 2024, would have seen Allwyn acquire a 51% controlling stake in the Athens-headquartered operator. However, the HCC determined that Allwyn would acquire sole control over a close competitor and that the transaction would strengthen Allwyn’s dominant position in the Greek market.
Allwyn already holds a majority stake in OPAP, Greece’s national lottery operator and major betting company. The regulator noted that Novibet represented the only operator capable of competing with Allwyn on equal commercial and technological terms.
The withdrawal reflects Allwyn’s disciplined approach to mergers and acquisitions. The company stated it remains committed to pursuing transactions that deliver clear shareholder value rather than accepting unfavorable regulatory conditions.
Allwyn’s OPAP merger completed in October 2025 has already established substantial Greek market presence. With OPAP generating 2.4 billion euros in 2025 revenue, the company determined that additional expansion through Novibet was not strategically essential.
The failed deal marks the second time Novibet has seen a major listing or acquisition effort fall through, following a terminated SPAC transaction three years ago.
