Scientific Games ups NYX stake with Stars Group deal
Scientific Games has further increased its overall stake in NYX Gaming Group by acquiring shares from The Stars Group.
Under the securities purchase deal, the Stars Interactive subsidiary has agreed to sell all of its securities of NYX, including 5,617,716 ordinary shares, 40,000 preferred shares and 1,363,636 Ordinary Share purchase warrants.
As a result, The Stars Group will no longer directly or indirectly beneficially own, control or direct any securities of NYX.
The latest move comes after Scientific Games last week acquired approximately 10.72% of the issued and outstanding ordinary shares in NYX.
In September, Scientific Games entered into a definitive agreement to acquire the entire NYX business for approximately C$775m (€511.4m/U$609.6m).
However, under an amendment to this deal, both companies last week agreed that should NYX shareholders not approve the acquisition at a vote next month or the deal not move forward for any other reason, Scientific Games will then make a contractual takeover offer to NYX shareholders for the same share price.
Earlier this month, it emerged that William Hill could move to challenge the deal over contractual rights it obtained when it enabled NYX to purchase OpenBet.
William Hill owns and controls 6,800,000 ordinary shares of NYX and £80m of preference shares of NYX Digital Gaming, an indirect wholly owned subsidiary of NYX.
In response, NYX recently filed an anti-trust lawsuit against William Hill over alleged “wrongful conduct” regarding the proposed acquisition.