In Romania, Superbet signed a deal with Maxbet
In Romania, Super Technologies (formerly Superbet) signed an agreement to acquire the Maxbet Online and Maxbet Malta brands, a move that will make the group the largest gambling operator in the country.
The financial terms of the deal have not been disclosed, and the agreement is still subject to approval by Romania’s Competition Council.
The acquisition of Maxbet and Romania’s gambling market
The transaction between Superbet and Maxbet is seen as one of the most significant events in Romania’s betting market in recent years.
According to Romanian media, Superbet is negotiating the full takeover of Maxbet Romania, a step that could significantly change the balance of power in both the land-based and online gambling segments.
The legislative factor behind the deal
A key element influencing the transaction is a draft package of legislative changes affecting gambling operators.
Under the proposed measures, gambling operators would need approval from local authorities in order to continue operating.
Only after obtaining such approval would an operator be able to submit documentation to the ONJN for the authorization of gaming equipment.
Operators focused on sports betting would be able to continue their activities, while venues operating slot machines could face refusals from local municipalities.
The positions of Superbet and Maxbet
Superbet, as an operator with an extensive network of betting shops, is better positioned to withstand potential regulatory restrictions.
Maxbet, which is more focused on slot machine halls, may encounter serious administrative barriers.
Reasons behind the acquisition of Maxbet
Against the backdrop of a possible contraction in the slot hall market, Superbet gains the opportunity to acquire Maxbet’s assets at a reduced valuation.
This includes infrastructure, locations, and a customer base that can be converted to a sports betting format.
The financial situation of Maxbet Romania
Maxbet Romania is owned by the London-based fund Novalpina Capital, which acquired the company in 2021 for approximately €273 million.
Since then, the asset has shown negative performance, marked by internal corporate instability, a return of -15.3%, and losses estimated at no less than €125 million.
The current asset manager, Treo Asset Management, has put Maxbet up for sale through a confidential process, with Oakvale Capital acting as intermediary.
The scale of Maxbet’s business
At the time of the negotiations, Maxbet operates 117 locations in 15 Romanian cities and employs around 1,400 people.
Superbet, in turn, owns the largest network of sports betting shops in the country along with a dominant online platform.
Market concentration
A potential merger would lead to the concentration of a significant share of Romania’s gambling market, which is valued at more than €1 billion.
In 2024, Superbet secured €1.3 billion in refinancing from the Blackstone fund, confirming that it has the resources needed for a deal of this scale.
The fiscal context of the deal
In the summer of 2025, Superbet warned that it might scale back sponsorship programs in sports, culture, and education due to increased tax pressure.
Over a 17-month period, the company transferred €610 million to Romania’s state budget.
Against this background, the acquisition of Maxbet highlights Superbet’s strategy of expanding its business even under stronger fiscal pressure.