Operator Tipico is set to acquire Atlas Group Gmbh, the parent company of Novomatic AG’s Admiral Group in Austria.
The deal comes as Germany-based Tipico looks to bolster its operation in the neighbouring nation. Whereas for Novomatic, the strategic agreement of Admiral in Austria comes as part of the company’s recent strategy of focusing on its international business orientation.
While both the companies have reached an agreement, the deal is still subject to necessary regulatory approvals.
In July, Tipico’s high-profile legal case was referred to the European Court of Justice (ECJ) by the German Federal Court of Justice. The case is related to the question of whether the freedom to provide services of a sports betting operator precludes the reimbursement of losses suffered by players in the context of unauthorised online sports betting.
Moreover, in June, the company appointed Axel Hefer as its new chief executive officer (CEO). He succeeded Joachim Baca, who will be taking over as chairman of the supervisory board. Hefer joined the company as chief operating officer (COO) in November 2023.
Hefer 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 the Admiral Group a partner who shares these same values. We look forward to a successful future in the Austrian sports betting and gaming market.”
Stefan Krenn, member of the executive board at Novomatic AG, said about the deal, “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.”
In June, MGM Resorts International announced that its subsidiary, LeoVegas Group, acquired the US sportsbook and online casino technology platform of Tipico Group. This acquisition was a strategic move that marked a new chapter in the US sportsbook industry.
The acquisition of Tipico’s US platform was a testament to LeoVegas’ commitment to expanding its footprint in the global digital gaming business. This acquisition was LeoVegas’ second major investment, following the purchase of game developer Push Gaming in 2023.
The acquisition enabled LeoVegas to manage a proprietary sportsbook across all international markets and brands, with the exception of those exclusive to the BetMGM joint venture. This strategic move strengthened LeoVegas’ position in the global gaming market and enhance its ability to deliver the world’s greatest iGaming experience to customers across all its markets and brands.
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