Allwyn & Novibet Abandon Merger Due to Competition Concerns

Gaming entertainment giant Allwyn International has decided to withdraw its planned acquisition of Novibet’s parent company, Logflex MT Holding Limited, due to regulatory concerns. The decision follows recent feedback from the Greek competition regulator.

Allwyn Sought to Acquire the Novibet Parent

On March 4, Allwyn announced that the acquisition of a majority stake in Logflex is no longer expected to proceed.

This comes after, in 2024, the former company set out to acquire a 51% stake in the Novibet parent and position itself as an iGaming star. Per that announcement, Allwyn would have paid EUR 217 million for the acquisition, as well as up to EUR 110 million in potential future earnouts based on Logflex’s performance.

Allwyn projected that the deal would reinforce its tech capabilities, allowing it to tap into Novibet’s network of tech hubs across Brazil, Greece and Malta. The deal was expected to close in the second half of 2025, subject to relevant legal and regulatory approvals.

As it turns out, however, the arrangement will not go through.

The Greek Competitions Authority Raised Objections

The recent announcement clarified that Allwyn and Logflex MT Holding Limited have decided to end the arrangement following comments from the Greek competition regulator.

Allwyn International AG today announces that Allwyn and Logflex MT Holding Limited, the owner of online sports betting and gaming group Novibet, have jointly decided to withdraw their previously announced transaction from review by the Hellenic Competition Commission (the “HCC”), in light of feedback received from the HCC.

Allwyn announcement

In 2025, the regulatory body raised objections against the deal, suggesting that it could undermine effective market competition. The HCC noted that Novibet has been one of the only competitors that has managed to dent Allwyn and OPAP’s dominance.

The HCC acknowledged Allwyn’s efforts to address this issue, but recommended that the transaction be blocked.

In any case, Allwyn noted that it is firmly committed to only pursuing transactions that “would deliver clear value for shareholders.” As a result, the two companies said that they no longer expect the transaction to proceed.

In the meantime, shareholders just signaled significant support for the proposed merger between Allwyn and OPAP.