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Sky Betting Gives Support to SG/NYX Deal

UK based betting firm Sky Betting & Gaming has announced that they're backing the purchase of NYX by Scientific Games, an important step given that the company owns more than 1.6 million shares of NYX.

The announcement of SkyBet backing the deal comes as the group said they see great value in the proposed deal. SkyBet holds 1.6 million ordinary shares of NYX alongside 412,000 warrants and 37,400 convertible shares of the company. The revelation comes after William Hill dropped their opposition to the deal last week following a brief legal spat between the company and NYX related to the deal.

Scientific Games and NYX came to a purchase agreement in September in a deal valued at $775 million CAD.

Speaking about the matter SkyBet 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."

The purchase will be put up to a vote by shareholders, with the purchase completing in the near future.

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bgsharpe
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12 December 2017 - 12:20pm
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Obviously the deal will be proceeded after all the major shareholders agreed to it. I think they really see the value in it as the SkyBet CEO said it would be a chance to enter those new markets that would be legalised in future which of course should be their ultimate goal.

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