Despite rumours of a potential public offering, Austrian gambling group Novomatic is reported to be eyeing a German market expansion for its Admiral Sportwetten retail betting subsidiary.
Industry news source InterGame reports that Novomatic governance are studying potential market entry options with the firm seeking to quickly establish the Admiral brand within the German retail sector.
Stated its intent, Novomatic has formed a three-man executive team of Heiko Busse MD of gaming machine subsidiary Crown Technologies, Jurgen Irsigler MD of Admiral Sports Austria and Mehmet Celikoglu MD of Admiral Arcades to guide its German strategy.
The company is further reported to be eyeing potential corporate acquisitions, to gain a swift market foothold. Novomatic governance views Germany, as an organic market in which to grow its retail betting services developed in its home of Austria.
At present, Novomatic’s Admiral division has over 250 betting points in Austria. The Admiral brand has further presence in the European markets of the Czech Rep, Italy, Serbia and Romania.
Throughout, 2016 Novomatic governance detailed to investors and stakeholders that the company would pursue an aggressive international expansion for its services and divisions.