Published on 5th April 2016 by Andrew Mills

NYX Gaming Group has officially agreed a deal to acquire OpenBet for £280 million, with William Hill supporting the move by investing £80 million into NYX under a commercial agreement in the form of a note redeemable in cash or shares in NYX. William Hill will add to this with a £10 million investment in NYX.Sky Betting and Gaming will invest as part of the consortium with William Hill, and is also investing in the note and the equity, through which Sky and William Hill will both support the forming of a larger NYX Gaming Group.

Enhancing current platforms

Chief Executive of William Hill, James Henderson, said of the deal:“Our new commercial agreement is a key step in delivering our technology strategy by enhancing our current platforms and, in parallel, developing a new back-end platform for William Hill to complement and support our Trafalgar platform, which is focused on our front-end user experience,”He continued:“This route draws on the OpenBet team’s proven sports betting technology expertise and NYX’s gaming platform to give us a bespoke technology solution to support and deliver our UK and international growth strategies.”Matt Davey, Chief Executive of NYX said that the deal puts together “two highly complementary businesses with key strengths in regulated markets, technology services and gaming content.”He added: “To have a consortium of operators with the pedigree of William Hill and Skybet and the public support of Paddy Power Betfair highlights the strength of NYX’s proposition and I look forward to extending our relationship with them.”