Summary
- NOVOMATIC AG has successfully completed the sale of its Admiral brand in Austria to Tipico, marking a significant milestone in the company's journey.
- By joining forces, the acquisition aims to strengthen the company's foothold in German-speaking regions, while simultaneously advancing its mission of expanding on a global scale.
- The leaders at NOVOMATIC and Tipico truly understand the profound impact of this strategic move.
Tipico Group, a leader in sports betting and casino gaming with a formidable reputation in Germany, has successfully acquired a top brand in Austria, strengthening its foothold in the region.
Tipico continues to grow its footprint in German-speaking markets
The company is thrilled to announce its successful acquisition of 100% of ATLAS Group GmbH, the parent company of the Admiral Group in Austria, from the renowned technology leader, NOVOMATIC AG. Tipico is committed to maintaining its strong presence in Austria by continuing to operate under the respected Admiral brand. In compliance with the Austrian Federal Competition Authority's guidelines for this acquisition, Tipico plans to sell a significant share of its Austrian retail outlets. Yet, the existing network of Admiral shops will remain steadfast, serving the Austrian market with unwavering dedication. This acquisition is set to bring mutual benefits. Tipico gains a stronger footing in Austria, enhancing its influence in the European market. Meanwhile, NOVOMATIC can redirect its energies toward international growth, solidifying its leadership in the gambling industry. Although Tipico has sealed the deal for Admiral Group, the financial details have not been disclosed to the public. In an exciting development last month, Tipico unveiled its groundbreaking new product, Tipico Million, further showcasing its innovative spirit.
Admiral Austria holds potential for further growth
Completing this transaction is a major milestone in our quest for global growth, especially as we focus on expanding into international markets, he said with confidence. Krenn expressed heartfelt gratitude to Admiral's dedicated team for their incredible efforts in cementing the company as a market leader over the years. We’re thrilled to have found a strong and dependable technology partner in Tipico, ready to carry forward Admiral's success in Austria, he added warmly. Sharing this optimism, Axel Hefer, the CEO of Tipico Group, expressed his excitement about finalizing this pivotal deal. He noted, Admiral is a leading Austrian company with a rich legacy and significant growth potential ahead. Recognizing the strengths they now share, Hefer highlighted that both companies are celebrated for their innovative products, advanced technology, and commitment to player safety. He emphasized that acquiring Admiral is a strategic move that enhances Tipico's growth trajectory in German-speaking areas.
