Scientific Games Officially Acquires NYX Gaming Group

Staff Writer Industry News, NYX 1,493

After months of legal challenges, the acquisition deal between Sci Games and NYX has finally been completed.

Back in September, Scientific Games Corporation announced that the company will acquire Canadian online gambling technology provider NYX Gaming Group for $775 million. The US technology giant should acquire the NYX at a price of $2.40 per share.

This addition was hoped to boost their assets and also add a leading sports betting product in Open Bet that NYX acquired in spring 2016. Strategic benefits of this deal are huge. Together, they will form an industry-leading force across iGaming, iLottery and Sports since NYX is one of the fastest growing B2B real-money digital gaming and sports betting platforms in the world and Scientific Games being a world leader offering customers fully integrated portfolio of gaming solutions.

After few legal retractions, among which was the sanctioning of the Scheme by the Royal Court of Guernsey and William Hill’s opposing to the proposed acquisition, the deal has been approved by both companies’ boards of directors last week but it still needed the shareholders approval.

Latest Update

In the most recent market update, the companies announced the agreement is finally completed and that, on 10 January, shares in NYX Gaming will be delisted from the TSX Venture Exchange.

This is a win-win deal and with shareholders making the right choice, NYX will become a part of a company with unmatched global reach, resources and industry leading content. For NYX, Sci Games is an ideal partner that will provide “scale, content and product development capabilities complementary global infrastructure and access to an expanded customer base.” This is hoped to speed up the execution of their long-term strategic plan.

The officials at Sci Games are looking forward to 2018 and are truly excited by the opportunities that the acquisition presents to them.

“The acquisition will add a vital sportsbook capacity to an already comprehensive suite of services and products for the group, at a time when the repeal of PASPA and legalized sports betting is within touching distance for US players.”

This is the biggest acquisition Sci Games has made since $1.5 billion deal to absorb the rival, Bally Technologies in 2014. Smaller deals were made in 2016 with other Canadian gaming content providers such as DEQ Systems and Kama Gaming.

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