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NEWS 11 December 2017

Sky Bet voices its support for Scientific Games/NYX merger

By Robert Simmons
Global gaming heavyweights Scientific Games Corporation and NYX Gaming Group have announced that Sky Betting and Gaming has agreed to support their $631m merger.

Updating the market, the companies confirmed that Sky Betting and Gaming, which owns 1,648,000 ordinary shares and 412,000 warrants in NYX Gaming Group, has entered into an agreement to support the merger.

Sky Betting and Gaming also owns 37,400 convertible preference shares in NYX Gaming Group subsidiary OpenBet.

Commenting on the signing of the agreement, Sky Bet CEO Richard Flint said: "We believe that the acquisition of NYX by Scientific Games delivers great value for us as a shareholder in NYX, and we look forward to continuing to work with a combined Scientific Games and NYX as more jurisdictions around the world look to legalise sports betting and online gaming."

Scientific Games and NYX Gaming Group have also announced that two other investment firms, Institutional Shareholder Services and Glass Lewis & Co, have recommended that NYX shareholders vote for the acquisition.

NYX has scheduled a shareholder meeting for 20 December in its hometown of Las Vegas, Nevada where it is widely expected that shareholders will approve the acquisition by Scientific Games Corporation.

RELATED TAGS: Online | Land-Based | Industry | Mergers & Acquisitions | Financial
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