Stelios Giannakopoulos has ended speculation surrounding his future by signing a new three-year contract with Bolton.
Allardyce was ecstactic to secure Stelios' future and is hoping to add more players to his squad before the transfer window closes on August 31st.
"We have been working hard behind the scenes to get this agreed and I'm delighted that we can put all the speculation behind us," Allardyce told the club's official website.
"Throughout, Stelios has been very professional and he can now look forward to playing his best football at Bolton.
"I was concerned earlier this week that we might have lost him but in the end he always wanted to stay loyal. He is a terrific little player.
"I hope we can move on now and try to add to the squad before the transfer window closes next week."
Bolton chairman Phil Gartside, who was delighted with Stelios' display against The Magpies, revealed the club always believed he would stay.
"We've been confident of doing this all summer," explained Gartside. "He's been an impressive player for us.
"I must admit I congratulated him on his performance after Newcastle which was very professional under the circumstances with the speculation.
"It's great news he's going to stay for another three years."