William Hill’s attempt to restrict or perhaps even scupper the proposed acquisition of NYX Gaming by Scientific Games became substantially more difficult late this week when SG acquired further NYX shares, boosting its shareholding to over 42 percent.
Earlier in the week SG announced that it had acquired a 10.7 percent share in NYX as it built up influence in the face of threats by William Hill that it may vote against the acquisition deal with its 32 percent shareholding if certain restrictive conditions were not met (see previous reports).
SG invested a further Cdn$87.7 million in its latest shares buy, reportedly mainly from The Stars Group, bringing its share buying spree up to Cdn$115 million in less than a week.
The new shares bring SG’s shareholding to almost 43 percent.
The Stars Group confirmed to Canadian media that it had agreed to sell its entire NYV Gaming shareholding to SG for Cdn$35.5 million.