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Acquisition of 90% of Betware by Novo Lottery Solutions

Integrated global gaming firm Novomatic, through its subsidiary Novo Lottery Solutions GmbH, has acquired a 90% majority shareholding in Icelandic interactive gaming solutions developer and supplier Betware.

Novomatic confirmed in a statement that Betware management would retain the remaining 10% of the company.

“Our acquisition of Betware has been a logical step to further enhancing our competency in electronic and video lottery technologies,” Novomatic’s chief technology officer, Thomas Graf, said.

“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, which will be a clear advantage in an increasingly competitive operating environment.”

Stefan Hrafnkelsson, Betware’s chief executive officer, added: “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.”

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