Updating the market, the governance of Nasdaq-listed gambling technology supplier Scientific Games Corporation (SGC) has announced that it will sanction a private offering of $350 million senior secured notes due for reimbursement in 2025.
SGC governance will use the net proceeds of its note offering, to fund its cash and debt $631 million outright acquisition of NYX Gaming Group assets, announced on 20 September.
The technology supplier informs that should its pending acquisition of Toronto TSX-listed NYX be suspended, SGC will use the funds for general corporate purposes, which may include the prepayment of corporate loan borrowings under the previous terms of its existing credit facilities.
This September, SGC announced that it had entered a ‘definitive agreement’ to acquire all related NYX assets, with a view to accelerate its digital gambling dynamics and further gain a strong foothold in the global sports betting market gaining NYX’s OpenBet division as a new vertical.
Expanding its omni-channel capabilities, SGC will seek to create a new ‘digital gambling division’ led by current NYX CEO Matt Davey, who will join SGC as President of Digital Gaming should the acquisition be approved.
Taking over NYX assets, SGC will gain one of the biggest industry digital services portfolio, as NYX services a number of tier1 industry operators for platform and games content provisions including William Hill, Betsson, bet365 and Caesars Interactive.