Scientific Games acquires NYX Gaming Group shares

News on 22 Nov 2017

In an early warning report, Scientific Games Corporation has notified its acquisition of 11.6 million ordinary shares in NYX Gaming Grouprepresenting a 10.72 percent share for an aggregate price of CAD$27,054,565.

The companies, who signed an acquisition deal earlier this month, also entered into a first amendment agreement in which Scientific Games will make a contractual takeover offer to NYX shareholders should the deal not be approved at the shareholder vote in December 2017 or not move forward for other reasons.

NYX also agreed to waive the existing standstill with Scientific Games so that Scientific Games and its affiliates could purchase any ordinary, preferred or other equity securities of NYX or any of its subsidiaries.

Our readers will recall William Hill is opposing the acquisition saying it may use its shareholding to veto the deal (see previous reports).

A major shareholder, the UK gambling firm moved to change its NYX convertible preference shares into ordinary shares earlier this month, enabling it to vote on the proposed agreement.

Related and similar