NYX takes legal aim at William Hill
News on 13 Nov 2017
News on 13 Nov 2017
NYX Gaming Group has filed an anti-trust law suit against William Hill Steeplechase Limited and William Hill Plc (together William Hill) and “certain” William Hill employees in the Chancery Division of the Superior Court of New Jersey, Atlantic County as a preemptive strike against William Hill’s advisory that it seeks to convert its shares in order to vote on the Scientific Gaming-NYX Gaming Group merger (see previous reports).
The statement from NYX alleges that William Hill has engaged in wrongful conduct in violation of the New Jersey Antitrust Act (NJAA) by attempting to block the Acquisition.
NYX Gaming Group is asking the Court to grant it injunctive relief, treble damages and attorney’s fees for violations of the NJAA while citing “tortious interference with economic advantage, and tortious interference with contract, and is seeking punitive damages.
In related news, NYX Gaming Group and Scientific Games have entered into an exclusive commercial partnership that will see the development and the distribution of a new sports betting platform in the United States.
Under the terms of the deal, Scientific Games will commit to an investment of $30 million in the aggregate (of which $1 million is immediately due and payable to NYX, with the remaining sums to be paid on a timetable to be mutually agreed by the parties) to fund the development of a new sports betting platform by NYX for use in the U.S.
Scientific Games will be an exclusive third-party distributor of the new platform throughout the U.S. where sports betting is legalised. The distribution agreement will run for a ten year term starting when the first commercial deployment of the platform occurs.
“This agreement represents an important step forward for NYX as we continue to position ourselves for greater expansion in the North American market,” Matt Davey, chief executive officer of NYX, said.
“As evidenced by the recent positive legislation for online gaming in Pennsylvania, the market potential continues to grow, and Scientific Games provides a fantastic partner to take advantage of these opportunities. We are excited to move forward at pace in this market.”
