Tipico has completed the acquisition of Atlas Group, the parent company of Novomatic AG’s Admiral Group in Austria, for an undisclosed price.
The move, which was first announced in January, allows the operator to strengthen its standing in the Austrian market, as well as expand its portfolio.
Admiral is a local hero in the Austrian market and is the title sponsor of the country’s top-flight football league in the Austrian Bundesliga, while it also boasts a strong retail presence in the country.
Both the Tipico and Admiral brands will continue to be active in the Austrian online market, though due to the requirements of the Austrian Federal Competition Authority’s approval of the deal, Tipico will divest a “main portion” of its Austrian land-based locations.
The retail locations that do remain will now operate under the Admiral brand.
At the time the deal was first announced, Novomatic explained that the disposal of its Austrian-facing brand allowed it to progress with its plans to “focus on its international business orientation”.
That sentiment was echoed in the more recent release confirming the transaction, with Novomatic expected to sharpen its focus on “further international expansion as a global innovation leader in the industry”.
Axel Hefer, Tipico CEO, issued an optimistic assessment of the acquisition, stating: “We are delighted about the successful completion of this transaction. Admiral is a leading Austrian company with a strong legacy and clear potential for future growth.
“Both companies are synonymous with state-of-the-art technology, innovative products and a high focus to player protection. Our future collaboration is very good for our customers.”
He added: “This investment marks an important step in Tipico’s growth strategy and underscores our leading role in the German-speaking markets.”
Stefan Krenn, Novomatic executive board member, also outlined the importance of the deal, noting: “The completion of this transaction marks an important step in our global expansion strategy with a clear focus on international growth markets.
“Admiral has developed into an established market leader over the past decades, and we thank all Admiral employees for their great commitment. We are pleased to have found a strong and reliable technology partner in Tipico, who will successfully continue the company’s operations in Austria.”
Last year, Tipico withdrew from the US sports betting market, selling its online sportsbook and casino technology to LeoVegas Group.
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German sports betting market leader lands 100% stake in Atlas Group, the parent company of Admiral Group in the Austrian market
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