December was a good day for everyone at NYX Gaming Group and Scientific Gaming. Reportedly, NYX Gaming Shareholders held a meeting in Las Vegas to discuss the acquisition proposal from the gaming giant corporation - Scientific Games. The purchase sum involved was estimated at $631 million and the shareholders said “yes” to being bought.
There was a scheme of arrangement filed with Guernsey Court and two separate votes. According to the first vote, 99,6% of the present shareholders approved the scheme and according to the second vote, 99,8% of the total present shareholders approved of authorizing the NYX Gaming Group directors to take steps to put the scheme into effect. It also gave authorization to the directors to make changes to the articles of incorporation as they see fit for the sole purpose of implementation of the scheme passed.
Guernsey Law states that at least 75% of the shareholders must support the acquisition before it can be approved. The final hearing before the Royal Court of Guernsey is planned to happen on 5th
January when the judge should approve the voting results and ratify the purchase.
The NYX Gaming Group CEO, Matt Davey, approved the shareholders’ vote with a statement: “The acquisition will be a win-win for both companies and our collective shareholders.
“By joining Scientific Games, we will become part of a company with unmatched global reach, resources and industry leading content. The leaders of both NYX and Scientific Games are committed to delivering significant value for our customers across the full spectrum of digital gaming.”
“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.”
In order to confirm their commitment to the acquisition, both gaming companies signed an amended agreement that, in case of the shareholders not approving the acquisition, a cash offer takeover would happen. However, this agreement turned out to be not needed as major shareholders signed their support of the Scientific Games bid.
The CEO and president of Scientific Games, Kevin Sheehan, also gave a statement supporting the acquisition: “We are thrilled by the strong support from NYX shareholders and we are very excited about our combined companies’ future growth potential. By bringing together Scientific Games and NYX, we will create a world leader in digital gaming and sports betting, a company with an unrivalled end-to-end product portfolio and an innovative driving force in the industry.”
“This important transaction creates a global gaming and lottery powerhouse. 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 capitalize on the growing online gaming and sports betting markets.”