US gaming giant Scientific Games has announced that it has struck a deal to purchase the NYX Gaming Group for a huge $775 million CAD cash deal.
Scientific Games is purchasing the company for $2.40 CAD per share, which is 112% higher than the company's current price. The deal will give SG a huge sportsbetting product with OpenBet, which is a NYX subsidiary. NYX also has a huge slot library and gaming platform, which it distributes to casinos around the world. NYX's current CEO Matt Davey will serve in a leadership capacity, leading a Digital Gaming division for Scientific Games.
Scientific Games released a statement on the purchase, noting: "NYX's digital Sportsbook can be seamlessly delivered throughout Scientific Games' global gaming and lottery networks in existing and future regulated U.S. and global markets."
The combined company will offer the betting industry it's latest combined giant should it be approved. The deal has to undergo shareholder voting, but is expected to be completed in the first quarter of next year.
We'll be updating this story as we learn more about the agreement.