NYX Gaming Group has announced plans to launch an IPO on Toronto’s TSX Venture Exchange after acquiring Ongame from Canada’s Amaya Gaming Group last week. The deal which was revealed to be scaled to eight times Ongame’s 2015 EBITDA, less any working capital requirement, will complement NYX Gaming Group’s market leading casino, bingo and lottery solutions in Europe and the US.
The acquisition also saw Amaya invest in NYX through a $10 million unsecured convertible debenture subscription, and includes an option for NYX to acquire Amaya’s B2B casino business, formerly known as Chartwell Technologies and CryptoLogic.
Speaking on behalf of NYX, CEO Matt Davey said: “Ongame is renowned in the gaming industry for its excellent poker products, platform and service. Not only does this acquisition provide NYX Gaming Group with one of the best poker products in the industry, it also gives us access to products that are regulated in several jurisdictions, and more importantly a talent pool that can help grow all parts of our business.”
He further added “through this transaction we will strengthen our relationship with one of the most successful gaming companies in the world, the Amaya Gaming Group.”
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