Next Generation Lotteries buying an Austrian gaming giant’s subsidiary

Next Generation Lotteries (NGL), which is Norway’s one of the biggest lottery providers, is rumored to have acquired an Austrian gaming mammoth’s subsidiary – Novomatic Lottery Solutions (NLS).

NGL is widely known as a credible provider of online gambling in Norway, as well as a full-suite lottery establishment with quality products and services. Not only is it focused on its profitable work but it also helps some Norway-based charitable institutions by running its lotteries for their specific causes.

On the other hand, NLS is a relatively new company established in 2013. It’s a subsidiary entity of Novomatic and its establishment was also market by Novomatic’s acquisition of Icelandic lottery provider Betware.

Both companies are excited with this acquisition

The price of this recent purchase still remains undisclosed, however, the officials are optimistic about what this deal can bring to both companies. According to NGL chief executive Hans Vigmostad, this acquisition is very exciting for the company since they’re buying the world’s greatest lottery system that’s also modern and sophisticated in its operations.

In fact, this acquisition goes beyond just a simple purchase of one company by another. Vigmostad goes on by claiming that NLS is an intellectual property that was created by genius people with their passion and professionalism.

And to top it all off, Vigmostad expresses his enthusiasm that this purchase will allow not just NGL to take its products and services to a whole new level but it will also be beneficial to NLS. As a result of this deal, NLS’s portfolios will be revitalized and its growth – resuscitated.

While Next Generation Lotteries is planning some revolutionary changes to Novomatic Lottery Solutions, and while it becomes an exclusive shareholder and owner of all the NLS’s belongings, it’s still not planning to change its headquarters and global branches. In fact, all of them in Austria, Serbia, Tunisia, Spain, and Iceland are going to be maintained as they are right now.

On the other hand, Novomatic’s chief operating officer Ryszard Presch is also excited that this acquisition will place the company in good and caring hands. He goes on to add that this deal will be a perfect strategic decision for both companies. Presch is also thankful for NGL that they’re maintaining all of the offices, including the Austrian headquarters.