NYX Gaming Shareholders Vote in Favour of Acquisition by Scientific Games

Staff Writer Industry News, NYX 1,454

NYX Gaming Group confirmed this week that the previously announced acquisition by Scientific Games was approved by an overwhelming vote of NYX shareholders.

A purchase plan filed with Guernsey court was approved through two separate votes.

Shareholders first gave a vote of confidence for the proposed approve the scheme of arrangement by the requisite majority, and also voted to pass a special resolution authorising the NYX directors to take the necessary steps to set the purchase process in motion.

The shareholders also authorised NYX directors to make amendments to the court-sanctioned scheme of arrangement under Part VIII of the Companies Law for purposes of implementing the Scheme.

Guernsey law requires at least 75% support from shareholders before any approval can take place and it’s worth noting that the two-stage vote by NYX shareholders received 99.6% and 99.8% backing, respectively.

Having successfully gone through the voting process, completion of the acquisition still remains subject to closing conditions which include sanctioning of the Scheme by the Royal Court of Guernsey which is schedule to take place on 5 January.

NYX Gaming expects that by joining Scientific Games it could become a part of a unique company with unmatched global reach, resources and industry-leading content and company’s CEO matt Davey has already voiced his approval over the deal.

“The acquisition will be a win-win for both companies and our collective shareholders.”, he said.

Positive development will offer a sigh of relief to both companies following William Hill’s attempt to convert its preference shares into ordinary voting stock last month and their intentions to vote against the bid. Such intentions prompted an anti-trust lawsuit by both NYX Gaming and Scientific Games toward William Hill.

The UK and Irish operator ultimately signed a deal to support the acquisition bid with Scientific Games’ efforts ultimately getting recognised as extremely positive by NYX Gaming shareholders.

Scientific Games president and CEO Kevin Sheehan was thrilled by strong support from NYX shareholders and expressed his delight over the two companies’ future combined growth potential.

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