Nasdaq gambling technology supplier SGC (Scientific Games Corporation) has moved to support its digital gambling operations significantly by revealing that it has signed a definitive agreement for acquiring NYX Gaming Group that is Toronto TSX-listed, leading sports betting supplier owner.
The market was to be updated on the afternoon of September 20; Scientific Games Corporation governance had detailed that would purpose 2.40 Canadian dollars per share offer for acquiring all outstanding NYX Gaming Group shares, and valuing its deal at 775 million Canadian dollars (635 million US dollars)
The cash plus debt deal is going to represent a circa 112 percent premium on the NYX’s September 19 closing share price of 1.13 Canadian dollars. In its market update, Scientific Games Corporation governance detailed four key calculated reasons for the acquisition, saying that it is going to gain;
1) Digital gaming portfolio of NYX for its international lottery distribution network.
2) New foothold in the sector of global sports betting adding leading OpenBet systems and platform to its provisions.
3) Accelerate the growth as well as the services of the all-around interactive division, while 4) strengthening the market position of Scientific Games Corporation within the sector of global gambling.
Updating investors, the Chief Executive Officer and President of Scientific Games Kevin Sheehan, commented on the acquisition and stated that the important transaction would create a global gaming plus lottery powerhouse. Scientific Games Corporation is going to be a powerful industry leader providing one of the widest end-to-end portfolios of digital products and services, innovative technologies, and engaging content across gaming and lottery.
Sheehan added that the strategic, as well as financially compelling acquisition, is combining NYX’s premier digital gaming plus sports betting platforms as well as an expansive distribution network to their own global, industry-leading content, digital products and services, and technologies. NYX ideally positions them to take the chance to gain advantage from the growing online sports betting and gaming markets.
Founded in the year 1999, NYX Gaming has come to be among the leading players in gaming plus sports betting technology as well as platform provisions and has grown its business assets through a strategic M&A (Mergers And Acquisitions).
The company has targeted to become the industry’s global leader particularly in omnichannel solutions, connecting land-based and digital abilities. In May 2016, NYX initiated its greatest acquisition to date participating in a three-way (William Hill+NYX+Sky Bet) 270 million pounds buy-out of the OpenBet technologies from the Vitruvian Partners, a private equity firm.
Confirming the sale, NYX Chief Executive Officer, Matt Davey informed stakeholders that Scientific Games Corporation’s acquisition of NYX is going to provide an immediate as well as compelling cash value to their shareholders, expand the products plus solutions they are collectively capable of offering their clients and quicken the execution of their long-term strategic plan.
The digital client portfolio of NYX includes Caesars Interactive, Coral UK, Sky Betting & Gaming, and William Hill. SGC governance is going to appoint Matt Davey as Digital Gaming New President for its recently combined portfolio.
Davey said that they would now have content and product development abilities, complementary global infrastructure, scale, as well as access to an extended customer base. They believe that Scientific Games is the perfect NYX partner, and they are looking forward to working beside the skilled Scientific Games team.