Allwyn International Abandons Two Hundred Million Euro Novibet Acquisition Following Greek Antitrust Regulatory Obstacles

Allwyn withdraws its 217 million euro bid for Novibet following Hellenic Competition Commission feedback. Read about the failed merger and market impact.

By: AXL Media

Published: Mar 4, 2026, 8:28 AM EST

Source: The information in this article was sourced from iGB

The Dissolution of a Major European Gaming Merger

The landscape of the Southern European gambling market shifted on Wednesday as Allwyn International announced the formal termination of its plan to acquire a controlling interest in Novibet. This decision concludes a long-running effort by the lottery giant to expand its digital footprint through the acquisition of Logflex MT Holding Limited. Despite what executives described as "carefully considered proposals" submitted to the Hellenic Competition Commission, the feedback from regulators indicated that the deal could not proceed under its original terms. Allwyn has reiterated its commitment to financial discipline, stating it will only finalize transactions that offer clear and uncompromised value to its shareholders.

Regulatory Feedback and the Failure of Proposed Remedies

The primary catalyst for the deal’s collapse was a rigorous review by the Greek antitrust authority regarding the potential effects on market competition. According to industry reports, the Hellenic Competition Commission raised concerns that the merger would grant Allwyn an outsized influence over the domestic gaming sector. While both parties engaged in extensive negotiations to provide remedies and concessions, these adjustments reportedly eroded the strategic benefits of the acquisition. Internal sources suggest that the cumulative weight of the requested changes made the deal economically unviable, leading to a mutual agreement between Allwyn and Logflex to pull the transaction from the regulatory review process.

A Strategic Blow to Allwyn’s Online Expansion

The termination of this agreement represents a notable setback for Allwyn’s momentum in the digital sports betting and gaming arena. Initially announced in late 2024, the acquisition of a 51% stake was intended to be a cornerstone of the group’s international growth strategy. Allwyn CEO Robert Chvatal had previously lauded the innovation potential of the partnership, viewing Novibet as a world-class team that would allow the group to capitalize on emerging global opportunities. With the deal now defunct, Allwyn must look for alternative pathways to strengthen its online presence, as it currently lacks the significant market share that the Novibet integration would have provided.