The Hellenic Competition Commission (HCC) will convene in plenary on Wednesday to assess the proposed acquisition by Allwyn International AG (Allwyn) of sole control over Logflex MT Holding Limited (Novibet), following a Statement of Objections (SO) issued under Article 8 of Law 3959/2011.
Allwyn, a wholly-owned subsidiary of Allwyn AG and parent company of the Allwyn Group, operates in Greece through OPAP S.A., which provides both land-based and online gambling services. Through OPAP, Allwyn offers online betting and casino services under the Pamestoixima and Stoiximan brands, while Novibet operates in the same markets under its own brand, offering online betting and casino games.
According to the SO, the acquisition could significantly restrict effective competition in the online betting and online casino markets by removing Novibet as a competitive force. The Commission highlighted that Allwyn already holds a high market share of over 50 percent in the relevant markets, and the combined entity would dominate with a very high market share, leaving competitors with negligible influence. Both companies maintain substantial and loyal customer bases supported by high advertising expenditure and strong brand recognition, while their technologically advanced platforms further enhance player loyalty. The SO also noted that high regulatory and market barriers would make it difficult for new or existing competitors to challenge the merged entity.
The SO point out Novibet’s role as a major competitive force. Since 2021, Novibet has been the only operator capable of disrupting market equilibria, capturing market share through aggressive pricing, substantial advertising, and a modern, award-winning platform designed to personalize the player experience. The acquisition would remove this competitor, eliminating the only credible market player able to exert meaningful pressure on Allwyn.
Given these considerations, the SO proposes that the HCC prohibit the transaction. Allwyn has indicated that it may offer commitments to address the Commission’s concerns regarding competition in the affected markets. The final decision of the HCC will take into account all evidence and arguments presented by the parties, and the Statement of Objections is not binding on the Commission.