Published on 23rd May 2016 by Andrew Mills

NYX Gaming has confirmed the completion of its £270 million co-funded acquisition of OpenBet that was first announced on April 4^th, 2016.NYX acquires 100% of OpenBet assets in the deal of a total consideration of £270 million, of that, William Hill are providing £80 million, and Sky Betting and Gaming put forward a further £20 million.Advised by Canaccord Genuity and Macquarie Capital, NYX Gaming will also be paying off the £95 million of corporate debt that is currently owed by OpenBet.

The next phase

In a statement announcing the conclusion of the deal, NYX Gaming Chief Executive Officer, Matt Davey, said the acquisition marked “the next phase of the company’s growth”, adding that as a result of acquiring OpenBet, NYX Gaming would be able to would be able to service “exciting player-driven solutions across all verticals and channels.”He continued:“The acquisition reinforces our position as the leading provider of regulated B2B digital gaming solutions. We now turn our focus to planning and executing the strategy to leverage the collective strengths and benefits of scale that the combined business brings to our customers and shareholders.”In its original transaction document, NYX detailed that it expects to implement swift co-synergies from the acquisition, with up to 10, million Canadian dollars earmarked in annual operational savings.After this deal, NYX no has a combined workforce of over 1,100 people working in working in fourteen different countries across four continents.