The plan from Scientific Games Corporation to buy online casino games innovator NYX Gaming Group Limited outright received another major boost yesterday after private investments firm Pollard Equities Limited gave its backing to the proposed takeover. Las Vegas-based Scientific Games Corporation announced in September that it was prepared to spend upwards of $631 million in order to acquire NYX Gaming Group Limited before subsequently shelling out some $48.95 million to obtain just over 24% of the Toronto-listed firm from a pair of other investors.
The planned purchase then received the support of significant NYX Gaming Group Limited shareholders Sky Betting and Gaming, William Hill and AlpInvest Partners Co-Investments as well as independent proxy advisory firms Institutional Shareholder Services Incorporated and Glass Lewis and Company. Scientific Games Corporation explained that Winnipeg-based Pollard Equities Limited stands to make around $16.06 million by selling the just over 8.62 million shares and four million warrants it holds in NYX Gaming Group Limited with the whole proposal now due to be put to a final shareholder vote on Wednesday.
“The shareholders meetings to approve the acquisition are scheduled for December 20 in Las Vegas, Nevada, and Scientific Games [Corporation] and NYX [Gaming Group Limited] encourage all shareholders of NYX [Gaming Group Limited] to cast their votes in favor of the acquisition,” read a statement from Scientific Games Corporation.
Under the terms of the transaction, Scientific Games will acquire all of the outstanding ordinary shares of NYX for CAD$2.40 per share, equivalent to an enterprise value of approximately CAD$775 million, or approximately US$631 million.
Strategic Benefits
Creates Global Digital Gaming and Lottery Powerhouse – Together, Scientific Games, a world leader offering customers a fully integrated portfolio of technology platforms, robust systems, engaging content and services, and NYX, one of the fastest growing B2B real-money digital gaming and sports betting platforms in the world, will form an industry-leading force across iGaming, iLottery and Sports.
Adds #1 Global Sports Betting Platform to Scientific Games’ Strong Portfolio – Scientific Games will now be perfectly positioned to capitalize on future regulatory developments in real-money wagering and sports betting by adding NYX’s industry-leading OpenBet Sportsbook. NYX’s digital Sportsbook can be seamlessly delivered throughout Scientific Games’ global gaming and lottery networks in existing and future regulated U.S. and global markets.
Accelerates Growth of Scientific Games Interactive Business – 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.
