NYX Gaming Group buys UK-based OpenBet, the market leading business-to-business sportsbook and digital gaming supplier, for £270M
NYX Gaming Group Limited (“NYX” or the “Company“)(TSX-V: NYX) and privately held OB Topco Limited (“OpenBet“), the #1 regulated digital gaming supplier globally, have announced that they have entered into a binding share purchase agreement (the “Agreement“) pursuant to which NYX will acquire 100% of the issued and outstanding shares of OpenBet from funds managed by Vitruvian Partners LLP, its co-investors and management (the “Sellers”). The total consideration of £270.0 million (which includes repayment of OpenBet’s £95.4 million existing third party debt1) will be paid in cash and financed as described below. The boards of directors of NYX and OpenBet have unanimously approved the transaction contemplated by the Agreement (the “Transaction”). All $ figures are in CAD dollars unless noted otherwise.
The transaction will join together two of the world’s most established and proven suppliers to create an organization that will deliver the leading end to end solution for regulated gaming markets. The combined strength of the two businesses will provide customers around the globe with premium betting and gaming solutions across all channels.
In addition to the OpenBet acquisition, NYX has also reached an agreement to sell its European Poker Business, a division within the business known as Ongame. As part of the agreement, a partner with proven experience in the industry will take on all costs, customer contracts and development for the poker product. NYX will retain both a significant share of the new business and exclusive rights to use the poker product across North America. The agreement is effective as of March 31st, 2016.
About NYX Gaming Group Limited
NYX Gaming Group Limited is a premier digital gaming supplier headquartered in Las Vegas, USA with a staff of more than 445 employees based in 8 countries across Europe, North America and Australia. The Company provides one of the world’s largest portfolios of leading content and technology to some of the foremost gaming operators, lotteries and casinos across the globe. NYX also has one of the broadest distribution bases in the industry with over 170 unique customers and a collective game catalogue of over 650 games. The market leading game catalogue includes slots, table games, scratch cards, lottery, bingo and poker available across web and mobile formats.
NYX Gaming Group Limited is listed on the TSX Venture Exchange under the symbol (TSXV: NYX).
Source: NYX Gaming Group and OpenBet Press Release