NYX Purchases Chartwell, Cryptologic from Amaya

This story was published more than 8 years ago.

Swedish betting firm NYX Gaming Group has announced the acquisition of betting firms Chartwell Technology and CryptoLogic Limited from Amaya Gaming for a price of $150 million CAD.

NYX is paying $150 million CAD in cash for the business, which is being acquired in a cash free, debt free basis. The deal is subject to financing and customary closing procedures, and will also see NYX entering into a supplier licensing agreement with Amaya. That deal will allow NYX games to be provided to Amaya subsidiaries Full Tilt and PokerStars.

A NYX press release was released to announce the deal, and revealed the following highlights:

  • Provides NYX with a customer that management believes will be one of the world’s fastest growing online casino operations;

  • Will increase NYX’s game library from approximately 350 to 650 games and its customer base from approximately 130 to over 170;

  • Minimum license commitment by Amaya Casino of CAD$12.0 million per year to NYX for each of the first three years of the Licensing Agreement, as the Amaya Casino business achieves scale;

  • NYX proprietary content will be prominently displayed across the Amaya Casino slot pages;

  • Expected to generate substantial synergies of approximately CAD$7.0 to CAD$9.0 million, excluding the revenues generated from the Licensing Agreement;

  • Materially accretive to near-term earnings per share; and

  • Increases NYX’s operating and public markets profile.

Commenting on the agreement NYX CEO Matt Davey said, “We are excited about this acquisition and partnership, which will provide NYX with additional leading gaming content and access to what we believe will be one of the world’s fastest growing online casinos. As part of our agreement to acquire Ongame we negotiated a right of first offer to purchase the Cryptologic and Chartwell business as we saw it as highly strategic to our existing business. This transaction completes the strategy we embarked upon with Ongame. We believe there to be a substantial growth opportunity in the PokerStars and Full Tilt casino offering, which we anticipate benefiting from as part of our licensing agreement with Amaya. We have substantial equity and debt financing options available to us to fund the Acquisition."

Amaya CEO David Baazov added: “We are pleased to further deepen our relationship with NYX as a strategic partner and supplier to our B2C online casino operations. This transaction is consistent with our stated strategy of divesting our non- core B2B assets, while still giving us the ability to offer popular games and new and innovative titles on a regular basis from Chartwell, CryptoLogic, and now NYX.”

About the author

Dustin Jermalowicz // News Editor
Dustin Jermalowicz
Dustin has a long-standing passion for gambling. He has been writing professionally on the subject and breaking industry news for Casino Listings since 2011. His favorite casino games include Blackjack, Poker, and Hi/Lo. A proud native of Detroit, Dustin currently lives in Michigan.