Novomatic Acquires Lotto Provider Betware

Novomatic Acquires Lotto Provider Betware

Novomatic Acquires Lotto Provider Betware

Novomatic through its wholly owned subsidiary company Novo Lottery Solutions has acquired the majority shareholding in Betware.

Stefan Hrafnkelsson, Betware’s CEO said that they were very excited and were looking forward to joining the NOVOMATIC Group and jointly contributing industry experience, talent and expertise. He added that they were confident that this transaction would create new value in the lottery market, linking together the strength of NOVOMATIC with Betware’s innovative lottery solutions. He also said that he strongly believes together they will become the market leader within the lottery segment.

The Deal

Novomatic will acquire a ninety per cent stake in Betware through their Novo lottery solutions brand, a wholly owned subsidiary company. Betware’s management team will hold the remaining ten per cent.

Novomatic Never Worries

Novomatic’s experience and market share is somewhat limited, despite having a dedicated subsidiary company in Novo lottery solutions. Novomatic then hopes for the acquisition to allow for a painless transition into gathering market share and generating momentum.

Thomas Graf, CTO of Novomatic said that the acquisition of Betware had been a logical step to further enhancing the competency in electronic and video lottery technologies. Betware’s open platform architecture is second to none, providing tailor made solutions to any small or large-scale lottery operation. It also seamlessly integrates a complete range of product verticals including those of third party vendors.

With the combined resources, know-how and industry expertise they would now be able to offer any lottery operator a 360-degree-solution for all distribution channels including online, mobile and land-based, which will be a clear advantage in an increasingly competitive operating environment. He added he was convinced that with Stefan Hrafnkelssons experienced and dedicated management team; they would fully leverage their potential and surprise the industry.

Novomatic Origins

Novomatic is one of the biggest producers and operators of gaming technologies and furthermore one of the largest integrated gaming companies in the world. This is echoed in their bottom line focus showing an impressive 3.2 billion EUR turnover in 2012. The giant employs 19.000 staff worldwide and with this acquisition that number is set to soar.

Entrepreneur Prof. Johann F. Graf founded Novomatic, with operational premises in 43 countries; the group now exports high tech electronic gaming equipment to 80 countries and counting. Operating over 215.000 gaming machines in about 1.400 plus traditional and online casinos under ownership as well as via rental concepts.

Betware Origins

Betware started out in 1998 with its main goal aligned to that of lotteries. It is precisely this focus and goal that saw Novomatic develop a keen interest in Betware. The Betware group attracts domestic customers and International lotteries and gaming operators. Betware prides itself on providing solutions solely to gaming operators that hold a license in their jurisdiction.

Betware is seen as a pioneer in this market as the group launched the first ever Internet based gaming solution for a state lottery, this occurred when the company developed a sports betting solution for the Icelandic soccer pools. From that moment onwards the company has continued to develop solutions that enable gaming operators to expand their business with sales through the Internet and the increasingly popular mobile market.