About Novibet
The group was established over 25 years ago, and built its reputation primarily in Greece before pursuing international expansion. In 2022, Novibet entered into a proposed business combination with Nasdaq-listed SPAC Artemis Strategic Investment Corporation that would have resulted in a US public listing; those plans were terminated amid deteriorating market conditions. In December 2024, Allwyn International announced an agreement to acquire a 51% stake in Logflex MT Holding for an initial consideration of €217 million, with up to €110 million in further performance-based earnouts. The Hellenic Competition Commission opened an in-depth investigation in October 2025 and issued a Statement of Objections in December 2025. In March 2026, both parties jointly withdrew the transaction, leaving Novibet operating independently under its existing management.
Novibet operates as a single consumer brand across all of its markets rather than a multi-brand portfolio. The brand covers sports betting, casino, and live casino verticals across desktop and mobile. Its European presence is anchored in Greece and supported by regulated operations in other European countries, while Latin American expansion represents the group’s primary growth vector, with smaller-footprint operations extending across Chile, Ecuador, and Canada.
| Founded | 2010 |
|---|---|
| Headquarters | Naxxar, Malta |
| CEO / Key Executive | George Athanasopoulos, CEO |
| Listed | Private (Logflex MT Holding Limited) |
| Key Markets | Greece, Ireland, Italy, Brazil, Mexico |
| Employees | 1,000+ (2024)[1] |
Market Position & Regulatory Footprint
Novibet holds licences from the Hellenic Gaming Commission (HGC) in Greece, the Malta Gaming Authority (MGA), Italy’s ADM, and the Irish Revenue Commissioners, with additional regulatory registrations covering its Latin American operations. The aborted Allwyn acquisition generated the most significant regulatory event in the group’s recent history: the HCC’s formal objections concluded that Novibet represented the sole competitive check on OPAP’s market dominance, and that a combined entity would hold over 70% of the Greek online betting and gaming market. Novibet has also made two unsuccessful attempts to access public capital markets, via the abandoned Artemis SPAC in 2022 and the collapsed Allwyn deal in 2026.
For suppliers and B2B partners, Novibet’s proprietary platform is the defining commercial consideration. Core betting and casino infrastructure is built and maintained in-house, meaning third-party integrations are primarily for game content rather than platform components. Studio partnerships span Amusnet, CT Interactive, Spinmatic, Golden Race, and Reevo, among others. The failed Allwyn deal has reinforced Novibet’s profile as a standalone acquisition target with a validated tech stack and a growing Latin American footprint, attributes that are likely to attract renewed M&A interest.
