Allwyn International is back on the acquisition trail for proprietary sportsbook technology after its proposed purchase of Novibet collapsed in early March 2026.
The deal ended following competition concerns raised during review by Greece’s Hellenic Competition Commission (HCC). Allwyn and seller Logflex MT Holding jointly withdrew the transaction from the HCC process after remedies considered during the review failed to preserve the value of the deal. A central component of the transaction was access to Novibet’s online sports-betting and gaming platform.
Back to Market for Sportsbook Tech
Speaking on Allwyn’s FY25 earnings call, CEO Robert Chvátal confirmed the company has already begun assessing alternatives.
“This interest in the sportsbook technology remains on the radar of Allwyn. We have already started exploring other opportunities when it comes to sportsbook technology, to maybe solidify our sportsbook position in some markets of Allwyn.”
CFO Kenneth Morton expanded on the strategic rationale, framing proprietary sportsbook technology as a key long-term differentiator. Morton said the group considers owning such technology an “important differentiating factor and driver of success in the long term.”
“Sports betting is the one bit that we don’t currently have in-house, which we do think is strategically important. So we certainly see benefits to having it in-house, but as Robert said, there are many other ways that we can achieve that.”
On the lottery side, Morton noted that Allwyn already has most of its strategically important technology in-house, though not fully deployed across the entire portfolio. Sportsbook remains the outstanding gap.
OPAP Merger and PrizePicks in Focus
Alongside the sportsbook search, Allwyn continues to advance its OPAP merger, which received shareholder approval in February 2026 and is expected to create a combined business valued at €16 billion.
The earnings call also addressed the strategic fit of Allwyn’s PrizePicks acquisition, which completed in January 2026. The deal gave Allwyn a 62.3% stake in the daily fantasy sports operator, with an initial cash consideration of approximately $1.6 billion and additional performance-contingent payments of up to around $1.0 billion in 2029, based on metrics over the 2026 to 2028 period.
Morton outlined why PrizePicks is positioned to compete effectively in the US prediction markets space, pointing to its integrated product approach as a structural advantage over rivals that have launched separate apps for daily fantasy sports, online sports betting, and prediction markets.
“A number of operators have launched with three apps — DFS, OSB and predictions in separate apps. Essentially, to some extent you’re having to acquire the same customer three times. That’s not the case for PrizePicks. On day one they went live with predictions within their DFS app, which is obviously better for the user experience, but it’s also much better from the customer acquisition cost perspective.”
FY25 Results Steady
On overall FY25 performance, Allwyn reported net revenue up 4% year-on-year to approximately €4.1 billion. Adjusted EBITDA also rose 4%, reaching approximately €1.6 billion. Chvátal described 2025 as a “pivotal year” for the group.
The Novibet termination leaves proprietary sportsbook technology as the most significant outstanding strategic gap for Allwyn. With the OPAP merger advancing and PrizePicks embedded in the group, the next material move for the company is expected to come on the sportsbook side. Chvátal has indicated that search process is already underway.
Source: iGaming Republic
