Scientific Games completes NYX acquisition
US provider hails sports betting opportunities following the end of contentious buying process
Scientific Games has completed its acquisition of NYX Gaming Group, concluding a tumultuous buying process that saw both firms take on William Hill in legal disputes.
Following the announcement, NYX shares will be delisted from the TSX Venture Exchange on 10 January.
“Today, Scientific Games moves forward as a leading digital provider of sports betting, iGaming and iLottery technologies, platforms, content, products and services,” said Kevin Sheehan, Scientific Games CEO.
“As we look to 2018, we are truly excited by the opportunities that this acquisition presents to us.”
The deal was first announced back in September, but came under real threat of falling apart when William Hill, a major NYX shareholder, threatened to vote against the takeover to protect its partnership with NYX’s OpenBet sportsbook.
After lawsuits were filed by all three parties, the firms ultimately came to a new commercial agreement that reportedly satisfied William Hill’s concerns allowing the deal to go ahead.
The acquisition will position Sci Games to take advantage of the US market should the federal ban on sports betting be lifted by the Supreme Court this year.
The firm said in a statement: “NYX’s digital Sportsbook can be seamlessly delivered throughout Scientific Games’ global gaming and lottery networks in existing and future regulated US and global markets.”
“In addition, NYX’s worldwide channels, markets and customer base offer new growth opportunities to build on the significant momentum of Scientific Games’ existing interactive gaming business. The transaction will be accretive to earnings and cash flow this year.”