Novomatic Acquires Lotto Provider Betware
At the moment, international gaming company, Novomatic is the name to watch in the global gaming industry, as it continues a string of buy-ups and buy-outs across Europe. And the latest news is that Novomatic acquires lotto provider Betware Holding, the widely recognised market leader in online lottery platforms.
The Lowdown on the Novomatic-Betware Deal
With this deal, Novo Lottery Solutions, a subsidiary of Novomatic acquires lotto provider Betware, with a 90% stake in the company. The remaining 10% will remain with Betware Holding management.
The objective, as Novomatic acquires lotto provider Betware, is for the larger, more experienced company to gain unrestricted access to the niche lottery market currently dominated by Betware. As yet, Novomatic’s reach into this market remains limited but, now that Novomatic acquires lotto provider Betware, this all looks set to change in the very near future.
More about Betware Holding
Originally launched in 1998, Icelandic company, Betware Holding has grown from being the purveyor of a single product – Icelandic Soccer Pools – into one of the most highly regarded brands in the online lotto market. This is owed largely to the cutting-edge technology behind its offerings. The extent of this stronghold is evidenced by the fact that Betware Holding is the forerunning partner in almost all of Iceland’s corporate and national lotteries. This is why the company is held in such high esteem and clearly explains why Novomatic acquires lotto provider Betware.
The Verdict from Betware
The mood within the latter company, as Novomatic acquires lotto provider Betware, is expressed enthusiastically by Betware Chief Executive Officer, Stefan Hrafnkelsson: “We are very excited and are looking forward to joining the Novomatic Group and jointly contributing industry experience, talent and expertise. We are confident that this transaction will create new value in the lottery market, linking together the strength of Novomatic with Betware’s innovative lottery solutions. I strongly believe that, together, we will become the market leader within the lottery segment”.
What Novomatic has to Say
Meanwhile, back at Novomatic Head Quarters, Chief Technology Officer and Deputy Chairman of the Executive Board, Thomas Graf is equally excited about the fact to announce that Novomatic acquires lotto provider Betware: “Our acquisition of Betware has been a logical step to further enhancing our competency in electronic and video lottery technologies. With our combined resources, know-how and industry expertise, we will be able to offer any lottery operator a 360-degree solution for all distribution channels, including online, mobile and land based. I am convinced that, with Stefan Hrafnkelsson’s experienced and dedicated management team, we will fully leverage our potential and surprise the industry”
Graf adds that “Betware’s open platform architecture is second to none, providing tailor made solutions to any small or large scale lottery operation. It seamlessly integrates a complete range of product verticals including those of third-party vendors”.
More about Novomatic
Founded in 1980 by Austrian billionaire, Johann Graf, Novomatic is a multi-national gaming company with offices in 43 countries. The Novomatic Group operates in 205 sportsbetting outlets (via its subsidiary, Admiral) and has over 232 000 gaming machines in land-based and electronic casinos worldwide. The brand also has an online presence, with popular game titles including Book of Ra, Dolphin’s Pearl, Sizzling Hot, and Lucky Lady’s Charm. And now, as Novomatic acquires lotto provider Betware, the company is on its way to becoming a major force in the online lottery market as well.