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Scientific Games purchases shares in NYX

| By iGB Editorial Team
Scientific Games has acquired approximately 10.72% of the issued and outstanding ordinary shares in NYX Gaming Group

Scientific Games has acquired approximately 10.72% of the issued and outstanding ordinary shares in NYX Gaming Group.

The shares were purchased at prices ranging from C$2.22 to C$2.35 each, with an aggregate purchase price coming in at C$27.1m (€18.1m/US$21.2m).

In September, Scientific Games entered into a definitive agreement to acquire the entire NYX business for approximately C$775m.

However, under a amendment to this deal, both companies have agreed that should NYX shareholders not approve the acquisition at a vote next month or the deal not move forward for other reasons, Scientific Games will make a contractual takeover offer to NYX shareholders for the same share price.

In a statement, Scientific Games said this arrangement “reaffirms the companies' commitment to move forward together”.

In addition, NYX has agreed to waive the existing standstill with Scientific Games contained in the agreement between the two firms so that Scientific Games and its affiliates can purchase any ordinary, preferred or other equity securities of NYX or any of its subsidiaries.

Scientific Games also has the option to buy additional ordinary shares, pursuant to the acquisition, takeover offer, market or private purchases or other means.

In addition, Scientific Games may dispose of securities of NYX.

Earlier this month, William Hill said that it was to consider its options regarding the proposed acquisition of NYX by Scientific Games.

William Hill owns and controls 6,800,000 ordinary shares of NYX and £80m of preference shares of NYX Digital Gaming, an indirect wholly-owned subsidiary of NYX.

The bookmaker said it would look in detail at the deal in regards to contractual rights it obtained when it enabled NYX to purchase OpenBet.

In response, NYX filed an anti-trust lawsuit against William Hill over alleged “wrongful conduct” regarding the proposed acquisition.

NYX alleged William Hill engaged in “wrongful conduct in violation of the New Jersey Antitrust Act in attempting to block the acquisition”, which it said will “bring great benefits to the nascent regulated sports betting industry”.

The lawsuit was filed in the Chancery Division of the Superior Court of New Jersey in the US against William Hill Steeplechase Limited and William Hill Plc.

Related articles: NYX files anti-trust lawsuit against William Hill
William Hill airs concerns over NYX-Scientific Games deal
Scientific Games to acquire NYX for $630m

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