• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Industry Talk
  • Trends & Tech
  • iGaming
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

NYX Gaming tussles with William Hill over Sci Games deal

Nov 13, 2017 Newsdesk Latest News, Top of the deck, World  


NYX Gaming tussles with William Hill over Sci Games deal

The takeover of online sports betting specialist NYX Gaming Group Ltd by casino equipment and lottery services provider Scientific Games Corp is under the spotlight because of a legal tussle between NYX Gaming and British betting brand William Hill.

NYX Gaming said in a November 10 press release it had filed a lawsuit in a U.S. court against one of its shareholders, the William Hill betting group, alleging anti-competitive behaviour by the latter, and an attempt to block the acquisition of NYX Gaming by Scientific Games via a CAD775-million (US$610.8 million) deal.

Canada-listed NYX Gaming said it had filed an action in the New Jersey Superior Court in the United States, against William Hill Steeplechase Ltd and William Hill Plc and “certain of William Hill’s officers and directors”.

NYX Gaming alleged William Hill had “engaged in wrongful conduct in violation of the New Jersey Antitrust Act in attempting to block the acquisition”, a deal which it claimed would “bring great benefits to the nascent regulated sports betting industry”.

The complaint sought “injunctive relief, treble damages and attorney’s fees for violations of the New Jersey Antitrust Act”. The suit also alleged “tortious interference with economic advantage, and tortious interference with contract,” and sought punitive damages.

On November 8, William Hill Steeplechase, a Gibraltar-incorporated company, had stated in a press release it was “considering the proposed acquisition of NYX by Scientific Games Corp and no decision has been made at this time”.

The statement from the William Hill unit also said it had issued notice of its intention to convert convertible preference shares it held in NYX Gaming, and had started legal action to allow it to vote such shares at a special meeting of NYX Gaming shareholders.

The William Hill entity accused NYX Gaming of attempting to ”frustrate the contractual rights William Hill obtained when it enabled NYX to purchase OpenBet”.

NYX Gaming had acquired OpenBet – a sports betting brand – in May 2016 for a consideration of GBP270 million (US$354.5 million), according to a press release from OpenBet issued at the time.

Under that deal, NYX Gaming had acquired 100 percent of the issued and outstanding shares of OpenBet from funds managed by Vitruvian Partners LLP, its co-investors and management. The arrangement was financed by NYX Gaming via a combination of new senior secured credit facilities; and convertible preference shares issued to two entities – William Hill Plc and Sky Betting and Gaming Ltd, the latter a U.K.-based sports betting business operating under the SkyBet brand – said OpenBet’s press release at the time.

William Hill Steeplechase asserted in its November 8 statement that William Hill controlled 6.8 million ordinary shares of NYX Gaming and GBP80-million-worth of preference shares of NYX Digital Gaming (OB SPV) Ltd, an indirect wholly-owned subsidiary of NYX Gaming, which William Hill said were “initially convertible into approximately 40,723,339 ordinary shares of NYX,” based on an initial conversion price of CAD3.67 per ordinary share.

Following the conversion of the preference shares, William Hill would own and control 47,523,339 ordinary shares of NYX Gaming, or approximately 31.9 percent of its ordinary shares, said the November 8 statement from William Hill Steeplechase.

In the November 10 release, NYX Gaming additionally announced that it had signed an exclusive agreement with Scientific Games for the development and distribution of a new sports betting platform in the U.S. Under the agreement, Scientific Games will invest US$30 million to fund the development of the new sports betting platform and be granted the right to be the exclusive third-party distributor for a period of 10 years.


  • tweet
Related articles
  • ‘Stunt Stars’ new slot game from Lightning Box
    ‘Stunt Stars’ new slot game from...

    Jan 05, 2023  

  • Wilson global CEO Light & Wonder, Lane CEO gaming
    Wilson global CEO Light & Wonder,...

    Oct 11, 2022  

More news
  • Genting Malaysia revenue at US$494mln in 1Q, narrows loss
    Genting Malaysia revenue at US$494mln...

    May 25, 2023  

  • Londoner Macao pulls in foreigners and Chinese: LVS CEO
    Londoner Macao pulls in foreigners and...

    May 25, 2023  


Latest News

Genting Malaysia revenue at US$494mln in 1Q, narrows loss

Genting Malaysia revenue at US$494mln in 1Q, narrows loss

May 25, 2023  

International casino operator Genting Malaysia Bhd recorded total first-quarter revenue of just above MYR2.28 billion (US$493.7 million), up 32.7 percent from the prior-year period. Judged...
Read More
Londoner Macao pulls in foreigners and Chinese: LVS CEO

Londoner Macao pulls in foreigners and Chinese: LVS CEO

May 25, 2023  

Cambodian unionist jailed over strike tied to NagaWorld

Cambodian unionist jailed over strike tied to NagaWorld

May 25, 2023  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day

”While Macau gaming stocks stopped paying dividends during Covid, we expect they will start paying after deleveraging”

Morgan Stanley banking group



Most Popular

  • Londoner Macao pulls in foreigners and Chinese: LVS CEOLondoner Macao pulls in foreigners and Chinese: LVS CEO May 25, 2023
  • Genting Malaysia revenue at US$494mln in 1Q, narrows lossGenting Malaysia revenue at US$494mln in 1Q, narrows loss May 25, 2023
  • Macau 1Q GDP up 39pct as gaming exports doubleMacau 1Q GDP up 39pct as gaming exports double May 25, 2023
  • Macau gaming, hospitality hire 1.8K workers in Feb to AprMacau gaming, hospitality hire 1.8K workers in Feb to Apr May 25, 2023
  • Cambodian unionist jailed over strike tied to NagaWorldCambodian unionist jailed over strike tied to NagaWorld May 25, 2023
Copyright 2014-2023 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us