Economy

Scientific Games clears William Hill hurdle in pursuit of NYX Gaming

Scientific Games clears William Hill hurdle in pursuit of NYX Gaming

Scientific Games Corporation (SGC) has released a statement, detailing that it will move to acquire William Hill's entire 6.8 million "ordinary shares and convertibles" holding in acquisition target NYX Gaming Group.

London-listed bookie William Hill has settled a dispute over Canadian gambling firm NYX, clearing the way for an American company to swoop in.

The takeover of online sports betting specialist NYX Gaming Group Ltd by casino equipment and lottery services provider Scientific Games Corp is closer to be successful after the parties announced fresh support for the deal, including from British betting brand William Hill.

Nonetheless, in November, William Hill announced that it had a number of concerns regarding the potential acquisition, due to contractual rights it obtained when it enabled NYX to purchase OpenBet.

Making stocks you should surely buy: Marsh & McLennan Companies, Inc. (MMC)
Out of 5 Wall Street analysts rating Voya Financial, 3 give it "Buy", 1 "Sell" rating, while 1 recommend "Hold". (NYSE: MMC ). The firm earned "Buy" rating on Thursday, July 13 by Citigroup. (NYSE:VOYA) on Wednesday, November 9 to "Outperform" rating.

Following the agreement all the parties have withdrawn from all litigation in the USA and UK.

NYX Gaming said in a November 10 press release it had filed a lawsuit in a US court against the William Hill group, alleging anti-competitive behaviour by the latter, and an attempt to block the acquisition of NYX Gaming by Scientific Games.

"Additionally we are pleased to expand our commercial relationship with Scientific Games in the U.S. market which offers considerable potential should the Supreme Court ruling on the Professional and Amateur Sports Protection Act, which is expected next year, provide states with the power to regulate sports betting".

Analyst Alistair Ross at Investec said the agreement was "very good news", calculating that William Hill will receive a seven per cent return on investment over 20 months.


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