Athens, 6 October 2025
The Hellenic Competition Commission (HCC) has initiated a full investigation under Article 8(4) of Law 3959/2011 into the proposed acquisition by Allwyn International AG (Allwyn) of Logflex MT Holding Limited (Novibet), following the notification submitted on 27 January 2025.
Background of the Companies
Allwyn International AG belongs to the global Allwyn Group, a leading international provider of gaming and lottery services. In Greece, Allwyn operates through OPAP S.A. and its subsidiaries, which offer both land-based and online gaming services, including sports betting and online casino games under the brands “Pamestoixima” and “Stoiximan.”
Logflex MT Holding Ltd (Novibet) operates in the online gaming sector, offering sports betting and casino games through its well-known “Novibet” brand.
Preliminary Assessment
According to the HCC’s preliminary evaluation, the merger raises serious doubts regarding its compatibility with the requirements for maintaining effective competition in several affected markets.
Specifically:
- (a) After the transaction, the combined entity is expected to achieve a dominant market share exceeding 70% in both the online sports betting and online casino markets (excluding poker). This would significantly strengthen Allwyn’s existing market position.
- (b) The acquisition would eliminate Novibet as a key competitive force, a company that has recently reshaped market dynamics through its active presence and innovative offerings.
These findings raise concerns about potential non-coordinated horizontal effects that could reduce market competition. Moreover, given Allwyn’s already dominant position in these markets, the Commission will also investigate possible vertical or conglomerate effects between the affected markets and other segments in which the parties operate.
Next Steps and Legal Framework
During the in-depth investigation, the HCC will examine whether its concerns about the merger’s compatibility with competition law are substantiated.
Under Article 8(4) of Law 3959/2011, from the moment the full investigation procedure is initiated, the parties involved may propose modifications or commitments to the transaction to address the Commission’s competition concerns and restore conditions of effective market rivalry.
The HCC’s final decision on the merger will be issued within ninety (90) days from the start of the full investigation. The initiation of this procedure does not prejudge the final outcome of the assessment.
