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Iceland – Novomatic buys into electronic lottery with Betware deal

By - 11 November 2013

Novomatic is entering the electronic lottery market having bought a majority shareholding in Betware Holding, the Icelandic gaming pioneer and a specialist in online gaming solutions for the lottery market.

The deal, which sees Novomatic own a 90 per cent shareholding in the Icelandic company, with the remaining 10 per cent retained by the Betware management, has been completed via Novomatic’s subsidiary Novo Lottery Solutions.

Founded in 1998, Betware has built a very strong position in the gaming market with its clear corporate focus of developing and delivering state of the art gaming platform and electronic lottery solutions for National and Private Lotteries and supporting their online operations. Betware’s offering will now complement Novomatic’s product portfolio and provide a bridge into the lottery world. Novomatic, one of the largest conglomerates of the international gaming industry, will now focus on building its presence in the lottery industry in conjunction with Betware.

Operating over 1,400 gaming facilities worldwide, Novomatic is one of the leaders in Europe for electronic casino operations and one of the largest gaming technology companies in the world with over 30 years of experience. Both Novomatic and Betware share the mission of offering products and services only in markets with precise regulatory frameworks.

Stefan Hrafnkelsson, Betware’s CEO said: “We are very excited and are looking forward to joining the Novomatic Group and jointly contributing industry experience, talent and expertise. 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. I strongly believe together we will become the market leader within the lottery segment.”

Thomas Graf, CTO of Novomatic added: “Our acquisition of Betware has been a logical step to further enhancing our 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 seamlessly integrates a complete range of product verticals including those of third party vendors. 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. I am convinced that with Stefan Hrafnkelssons experienced and dedicated management team, we will fully leverage our potential and surprise the industry.”

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