Scientific Games agrees acquisition of NYX Gaming Group
News on 21 Sep 2017
News on 21 Sep 2017
Scientific Games Corporation (SGC) and NYX Gaming Group Limited (NYX) have entered into an acquisition agreement.
Under the terms of the transaction, Scientific Games will acquire all of the outstanding ordinary shares of NYX for CAD$2.40 per share, equivalent to an enterprise value of approximately CAD$775 million, or approximately US$631 million.
The consolidation of these two companies will offer customers a fully integrated portfolio of technology platforms, robust systems, engaging content and services across the iGaming, iLottery and Sports sectors.
In addition, SGC gains strength from NYX’s recently acquired OpenBet subsidiary enabling it to capitalize on future regulatory developments in real-money wagering and sports betting.
“This important transaction creates a global gaming and lottery powerhouse,” Kevin Sheehan, president and chief executive officer of Scientific Games said. “Scientific Games will be a stronger industry leader offering one of the broadest end-to-end portfolios of engaging content, innovative technologies and digital products and services across gaming and lottery.
“This strategic and financially compelling acquisition combines NYX’s premier digital gaming and sports betting platforms and expansive distribution network to our own global, industry-leading content, technologies and digital products and services. NYX ideally positions us to capitalize on the growing online gaming and sports betting markets.”
Matt Davey, chief executive officer of NYX Gaming Group, adds:
“Scientific Games’ acquisition of NYX will provide immediate and compelling cash value for our shareholders, expand the products and solutions we are collectively able to offer our customers and accelerate the execution of our long-term strategic plan.
“We will now have scale, content and product development capabilities, complementary global infrastructure and access to an expanded customer base. We believe Scientific Games is the ideal partner for NYX, and we look forward to working alongside the talented Scientific Games team.”
On completion of the transaction, it is expected Matt Davey will oversee the newly created Digital Gaming and Sports division at Scientific Games reporting directly to Kevin Sheehan. Davey will work with the leadership of NYX and SG Interactive, including Leigh Nissim, Managing Director, B2B Interactive of Scientific Games.
