Scientific Games Set to Acquire NYX Gaming Group
Scientific Games has announced the company has entered an agreement to acquire Las-Vegas headquartered digital gaming provider, NYX Gaming Group.
According to available information, Scientific Games will offer to purchase all outstanding NYX shares at a price of $2.40 per share, or $775 million in total.
Four Main Reasons
The Scientific Games administration gave four strategic reasons for the acquisition of the NYX Gaming Group. First of all, there’s NYX’s digital gaming portfolio and its global distribution network, while the move will create a new foothold in the sports betting sector, especially with the addition of OpenBet platform to the list of its assets.
The move will further accelerate the company’s growth, and at the same time strenghten Scientif Games’ market position in the global gambling sector.
Scientific Games’ President and Chief Executive Officer, Kevin Sheehan said the transaction would create a new global lottery force in the market. He added the compnay would transform into a stronger leader, with one of the most extensive portfolios consisting of engaging content, innovative technologies and high quality digital products.
According to Sheehan, this acquisition represents a perfect combination of NYX’s digital gaming and sport betting platforms with Scientific Games’ content, technologies, products and services.
NYX Has Big Expectations
Matt Davey, NYX Gaming Group’s Chief Executive Officer confirmed the deal and added the acquisition would provide immediate and compelling cash value for the company’s shareholders, as well as expanding the current offer of products and solutions. Davey said the move would allow NYX to accelerate the execution of its long-term strategic plan.
NYX Gaming Group was founded back in 1999, and has since become one of the leading names in the industry, offering cutting-edge online gaming and sports betting technology to its clients around the world.
The current NYX’s client portfolio includes such names as William Hill, Sky Betting & Gaming, Coral UK and Caesars Interactive.