Nasdaq listed gambling technology supplier Scientific Games Corporation (SGC) has cleared a further hurdle in its $630 million takeover of NYX Gaming Group, as UK bookmaker Sky Betting & Gaming (SB&G) states that it will support the deal.
Seeking to accelerate the transaction, SGC governance continues to acquire NYX shares at a target price of CAD $2.40 per share.
At present, SB&G holds 648,000 ordinary shares of NYX, combined with 412,000 warrants, and 37,400 convertible options gained through its 2016 co-funding of NYX’s acquisition of OpenBet last year.
Updating the investors, CEO of Sky Betting & Gaming Richard Flint commented: “We believe that the acquisition of NYX by Scientific Games delivers great value for us as a shareholder in NYX, and we look forward to continuing to work with a combined Scientific Games and NYX as more jurisdictions around the world look to legalize sports betting and online gaming.”
This December, SGC governance has achieved significant traction in its pursuit of NYX Gaming, securing the support of key stakeholder William Hill, who last week confirmed that it would sell its shares and convertible options in the Toronto TSX enterprise.
On course, to conclude the acquisition, which SGC governance states will significantly expand group digital capabilities and services, this weekend SGC has sanctioned a shareholder meeting to approve the final transaction on 20 December.
In its corporate update, SGC announced that Shareholder Services Inc. and Glass Lewis & Co., two leading independent proxy advisory firms, have recommended that NYX shareholders vote “for” the scheme and shareholder resolutions at the shareholder meetings to approve the Acquisition.