Novomatic Will Sell Admiral Austria to Tipico

Admiral Austria operates gambling facilities and betting at 150 locations. The Austrian gambling giant has reached an agreement to sell the Atlas Group GmbH, the parent company of Admiral, to Tipico, as both companies announced on Wednesday. The sale price was not disclosed. Regulatory approval is still pending.

Admiral Austria Also Offers Slot Machines

Tipico aims to strengthen its position in Austria with the acquisition, while Novomatic wants to focus on its international business orientation. Tipico has over 1,000 betting shops in Germany and Austria. Admiral Austria not only operates betting shops and sports bars in Austria, but also has slot machines at 150 locations in Lower Austria, Burgenland, Upper Austria, Styria and Carinthia with regional concessions.

(APA/Red)

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