Scientific Games moves forward with plan to purchase NYX Gaming shares
In September, Scientific Games announced that they entered a definite agreement to acquire the entire NYX business for approximately $775 million, further strengthening Scientific Games’ leadership position and ability to provide wider portfolio of digital products and services to their customers.
The Purchase Began
Scientific Games Corporation announced this week that it acquired 11.9 million ordinary shares of NYX Gaming Group Limited which represents approximately 10.72% of NYX current shareholding. The acquired shares were bought at a price ranging between $2.22 and $2.35 per share, through the facilities of TSX Venture Exchange. This represents a purchase price of about $27 million.
Both companies agreed that Scientific Games will make a contractual takeover offer to NYX shareholders for the same share price contained in the Arrangement Agreement if shareholders don’t approve the acquisition of NYX by Scientific Games at the shareholders vote in December. This is a sign that both companies are committed to move forward together.
The Agreement Hits a Roadblock
This agreement already came upon a stepping stone this November when a minority shareholder William Hill, one of world’s leading casino operators, demanded to convert its “preference shares” which were gained through co-funding NYX’s $357 buyout of OpenBet technologies in 2016. If this conversion happens, William Hill would have an aggregate of 31.9% equity in NYX Gaming and a significant vote on the sale.
Both companies filed individual anti-trust lawsuits against William Hill over alleged “wrongful conduct”, saying that the company is in breach of attempting to “stifle competition in the US gambling market.”
NYX Gaming Group has a philosophy that leads the company forward – amazing player experience equals amazing business results.
This is why the company is a trusted partner to the world’s most powerful casino brands. They offer customers the access to over 2000 games whether it is content from in-house gaming studios Nextgen Gaming, Side City and Icecap Studios or from other creative studios via their Open Gaming System (OGS) platform.
This award-winning OGS allows licenses to leverage the best casino content from around the world.
This leading digital gaming provider with more than 1,000 employees globally, has one of the broadest distribution bases in the industry with more than 200 unique customers and no wonder Scientific Games put them on their shortlist.