The market-leading sports betting and casino games provider with a strong presence in Germany, Tipico Group, finalized the acquisition of a leading brand in Austria.
Tipico continues to grow its footprint in German-speaking markets
The company has announced it successfully completed the acquisition of 100% of ATLAS Group GmbH, the parent company of Admiral Group in Austria, from NOVOMATIC AG, the leading technology and solutions provider.
Tipico confirmed that it will retain its presence in Austria alongside its Admiral brand.
Ensuring compliance with the Austrian Federal Competition Authority's requirements for the acquisition, Tipico will divest a major share of its Austrian retail outlets.
However, the remaining portion of its shops will continue to operate in Austria under the Admiral brand, leveraging its established shop network.
The acquisition is expected to benefit both NOVOMATIC and Tipico.
On one hand, acquiring Admiral Austria from NOVOMATIC, Tipico will further strengthen its position and presence in the European country.
On the other hand, NOVOMATIC will increase its focus on international growth and expansion, reaffirming its position as a leader in the gambling vertical.
While Tipico confirmed the completion of the acquisition of Admiral Group, financial transactions were not publicly available.
Last month, Tipico announced the launch of its innovative betting product, Tipico Million.
Admiral Austria holds potential for further growth
Stefan Krenn, NOVOMATIC AG's Executive Board Member, shared his excitement about the completion of the strategic takeover, Casino Guru News learned from a press release.
"The completion of this transaction marks an important step in our global expansion strategy with a clear focus on international growth markets," he explained.
Finally, Krenn pointed out: "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."
Axel Hefer, Tipico Group's CEO, shared the optimism and said that the company is excited to finalize this important transaction.
"Admiral is a leading Austrian company with a strong legacy, and clear potential for future growth," he added.
Hefer recognized that the two companies are renowned for their innovative products, leading technology and player protection efforts.
Finally, Tipico's CEO acknowledged that the acquisition of Admiral in Austria complements the company's growth strategy in German-speaking markets.
