Scientific Games to Acquire NYX Gaming Group
Scientific Games Corporation (Scientific Games) and NYX Gaming Group Limited (NYX) announced that they have entered into a definitive agreement (the arrangement agreement) under which Scientific Games will acquire NYX, further strengthening Scientific Games' leadership position and ability to provide the broadest portfolio of content, technologies and digital products and services for its global gaming and lottery customers. 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 $631 million.
"This important transaction creates a global gaming and lottery powerhouse. Scientific Games will be a stronger industry leader offering one of the broadest end-to-end portfolios of engaging content, innovative technologies and digital products and services across gaming and lottery," said Kevin Sheehan, Scientific Games' president and chief executive officer. "This strategic and financially compelling acquisition combines NYX's premier digital gaming and sports betting platforms and expansive distribution network to our own global, industry-leading content, technologies and digital products and services. NYX ideally positions us to capitalize on the growing online gaming and sports betting markets."
"Scientific Games' acquisition of NYX will provide immediate and compelling cash value for our shareholders, expand the products and solutions we are collectively able to offer our customers and accelerate the execution of our long-term strategic plan," said Matt Davey, chief executive officer of NYX. "We will now have scale, content and product development capabilities, complementary global infrastructure and access to an expanded customer base. We believe Scientific Games is the ideal partner for NYX, and we look forward to working alongside the talented Scientific Games team."
It is expected that upon completion of the transaction, Matt Davey, currently chief executive officer of NYX, will oversee a newly created digital gaming and sports division at Scientific Games, working with the leadership of NYX and SG Interactive, including Leigh Nissim, managing director, B2B Interactive of Scientific Games. Matt Davey will report to Kevin Sheehan, chief executive officer and president of Scientific Games.
A management information circular of NYX will be prepared and mailed to NYX's shareholders over the coming weeks in advance of the special meeting to vote on the scheme of arrangement, providing shareholders with important information about the transaction and including copies of the arrangement agreement, the support agreements and the fairness opinions and certain related documents.
For more information visit, www.scientificgames.com.