Acquisition of NYX creates 'a global gaming and lottery powerhouse'

Acquisition of NYX creates 'a global gaming and lottery powerhouse'

Wednesday, September 20, 2017 Posted by Andy McCarron
Scientific Games makes audacious swoop for $631m NYX Gaming Group

Scientific Games’ president and chief executive officer Kevin Sheehan says that his firm’s acquisition of NYX Gaming Group for US$631m ‘creates a global gaming and lottery powerhouse’.

Scientific Games made the surprise announcement that it entered into a definitive agreement to acquire NYX in a statement to the stock market earlier today and reflects the growing consolidation in the top end of the gambling market, as well as the lower end.

Sheehan commented: “Scientific Games will be a stronger industry leader offering one of the broadest end-to-end portfolios of engaging content, innovative technologies and digital products and services across gaming and lottery.

“This strategic and financially compelling acquisition combines NYX’s premier digital gaming and sports betting platforms and expansive distribution network to our own global, industry-leading content, technologies and digital products and services. NYX ideally positions us to capitalise on the growing online gaming and sports betting markets.”

Only last year, NYX bought one of the world biggest sports betting platforms Openbet for £270m (approximately $366m). This means that Scientific Games is now perfectly poised should the US sports betting market get deregulated. As SG itself explained: “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 deal also accelerates growth of Scientific Games’ interactive business and, on the flip side of the coin, add significant new intellectual property, expertise and global reach to NYX.

NYX CEO Matt Davey will oversee a newly created Digital Gaming and Sports division at Scientific Games, working with the leadership of NYX and SG Interactive, including Leigh Nissim, managing director of B2B Interactive of Scientific Games.

Davey commented: “Scientific Games’ acquisition of NYX will provide immediate and compelling cash value for our shareholders, expand the products and solutions we are collectively able to offer our customers and accelerate the execution of our long-term strategic plan. We will now have scale, content and product development capabilities, complementary global infrastructure and access to an expanded customer base. We believe Scientific Games is the ideal partner for NYX, and we look forward to working alongside the talented Scientific Games team.”

Totally Gaming says: The acquisition of NYX is a smart move by Scientific Games on many levels. Not only does it give a huge boost to its interactive ambitions, but also puts it in the perfect position for any sports betting opportunities that might appear in its home US market.

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