Novomatic to sell Admiral Group operations in Austria to Tipico

Gambling giant Novomatic has concluded an agreement with the Tipico Group on the sale of its 100% stake in Atlas Group GmbH, the parent company of the Admiral Group in Austria, subject to certain conditions such as regulatory approvals. No financial details of the deal have been released.

Sports betting and online slots provider Tipico stated that it sees this investment as an “important step towards further strengthening its position in Austria” and expanding its portfolio. Admiral operates betting in Austria, in addition to providing gaming terminals for the state lottery across the country.

Meanwhile, the Novomatic AG Group touted the sale as a step toward increasing the focus on its international business orientation. The company, which has been investing heavily in its US growth of late, will sell Admiral Austria as it eyes further global expansion.

Stefan Krenn, Executive Board Member Novomatic AG, stated:

“We have decided to sell the Admiral Group in Austria in order to focus on international growth markets and drive further global expansion. In Tipico, we found a highly professional and reliable partner who will continue to operate Admiral in Austria successfully and sustainably.”

Axel Hefer, CEO Tipico Group, said:

“This agreement is an important milestone in Tipico’s expansion strategy to further broaden our leading role in the German-speaking market and strengthen our position in Austria.”

“For 20 years, Tipico has stood for state-of-the-art technology, innovative products, and consumer protection. We are pleased to have found in Admiral a partner who shares these same values and we look forward to a successful future in the Austrian sports betting and gaming market.”

The news comes as Novomatic prepares to showcase its portfolio of solutions at the upcoming ICE Barcelona.

The event is set to take place from January 20 to 22 at the Grand Fira.

Novomatic will be present at stand 3K80 to welcome attendees.

Source: yogonet.com

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Iwo Bulski

Issues related to the gambling business is engaged in more than 30 years. My empirical experience gives me the opportunity to present events and companies from this business with full knowledge and industry knowledge.

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Iwo Bulski

Issues related to the gambling business is engaged in more than 30 years. My empirical experience gives me the opportunity to present events and companies from this business with full knowledge and industry knowledge.