Tipico Group completes acquisition of Admiral Austria

Tipico Group announced today the completion of its acquisition of 100% of Atlas Group GmbH, the parent company of Admiral Group in Austria, as it was initially announced in January.

The transaction strengthens Tipico Group's presence in Austria and broadens its portfolio, while Admiral Austria will continue to rely on Novomatic's technology solutions as a key partner, allowing Novomatic to focus on its international growth strategy.

Axel Hefer, CEO of Tipico Group, said: "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 on player protection.

"This investment marks an important step in Tipico's growth strategy and underscores our leading role in the German-speaking markets."

Both the Tipico and Admiral brands will continue to operate online in Austria. As required by the Austrian Federal Competition Authority for approval of the deal, Tipico will divest the majority of its retail outlets in the country. The remaining Tipico shops will be operated under the Admiral brand within the existing Admiral store network.

Stefan Krenn, Executive Board Member of Novomatic AG, said: "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."

Novomatic stated that the transaction was completed after obtaining all necessary regulatory approvals.