Allwyn Terminates Novibet Deal After Regulatory Pushback

Allwyn International has terminated its planned Novibet acquisition after Greek competition regulators raised substantial concerns about market concentration.

The company announced a joint withdrawal with Logflex MT Holding following feedback from the Hellenic Competition Commission. The parties concluded that required remedies would undermine the transaction’s commercial value.

Originally agreed in December 2024, the deal would have given Allwyn 51% control of the Greek operator. The HCC found this would eliminate Allwyn’s only meaningful competitor, as Novibet was uniquely positioned to challenge its market dominance on technology and commercial terms.

Allwyn already controls OPAP, Greece’s national lottery and betting giant, through a majority stake that expanded to 78.5% following their October 2025 merger. The regulator viewed adding Novibet as cementing an unassailable market position.

Allwyn is committed to only pursuing transactions that would deliver clear value for shareholders, the company stated. The decision to walk away reflects disciplined evaluation rather than accepting compromised deal terms.

The OPAP integration already provides substantial Greek market exposure. With OPAP reporting 2.4 billion euros in annual revenue, Allwyn determined that regulatory concessions for Novibet were not economically justified.

For Novibet, this represents another setback in efforts to achieve public market access, following a failed SPAC merger in 2023. The Athens-based operator maintains significant Latin American operations across Brazil, Chile, Ecuador, and Mexico.