Swedish online gaming software company NYX Gaming Group Limited (TSXV:NYX), announces the acquisition of Amaya’s B2B casino brands Cryptologic and Chartwell Technology. The move will see the Toronto listed company increase their games catalogue from 350 to a massive 650 games for a reported CAD $150.0 million in cash.
Amaya’s divesting of their B2B Business will help pay down their debt. The deal is to be finalized in the third quarter of 2015. This is a huge move for NYX as it will greatly increase their operating profile and grow their customer base from 130 to over 170. It also means that Amaya’s PokerStars and Full Tilt customers will have access to the full library of NYX casino games, Cryptologic, and Chartwell Technology combined.
Commenting on the agreement is Matt Davey, CEO of NYX Gaming Group, “We are excited about this acquisition and partnership, which will provide NYX with additional leading gaming content and access to what we believe will be one of the world’s fastest growing online casinos. As part of our agreement to acquire Ongame we negotiated a right of first offer to purchase the Cryptologic and Chartwell business as we saw it as highly strategic to our existing business. This transaction completes the strategy we embarked upon with Ongame. We believe there to be a substantial growth opportunity in the PokerStars and Full Tilt casino offering, which we anticipate benefiting from as part of our licensing agreement with Amaya. We have substantial equity and debt financing options available to us to fund the Acquisition.”
David Baazov, CEO of Amaya Gaming comments on the transaction, “We are pleased to further deepen our relationship with NYX as a strategic partner and supplier to our B2C online casino operations. The Transaction is consistent with our stated strategy of divesting our non-core B2B assets, while still giving us the ability to offer popular games and new and innovative titles on a regular basis from Chartwell, Cryptologic and now NYX.”
Submit your review | |
Submit your review | |
