NYX Gaming Group has struck a deal to acquire eGaming Consulting (EGC) in a move that will support a new long-term partnership with planetwin365 and the SKS365 Group.
Subject to customary gaming regulatory approval, the acquisition deal is worth a total of €7.5 million ($8.2 million), which comprises a sum of €3.4 million to be paid on closing and the remaining paid over the following six months as certain milestones are met.
Under the deal, the current EGC team of 14 people wall augment NYX’s existing poker operations, with the company stating that this will lead to an overall cut in costs as the Ongame and EGC teams are integrated.
The move will support a new five-year agreement with planetwin365 and the SKS365 Group, under which NYX will provide the operators with online poker and related casino games.
The new partnership will commence in the fourth quarter, with planetwin365 launching on NYX Poker.
EGC previously supplied planetwin365 with various gaming operations.
“This B2B deal and related acquisitions are important steps to meeting our commitment to shareholders to restructure Ongame and achieve cash flow breakeven for that division by the end of 2015 or early Q1 2016,” NYX chief executive Matt Davey said.
Thomas Smallwood, chief executive of the SKS365 Group and owner of the planetwin365 brand, added: “NYX will be an important business partner of planetwin365 and we are delighted they have chosen us as a partner for growth in line with our commitment to nationally regulated environments; a partner such as NYX puts us in a good position to succeed in those markets.”
source : www.igamingbusiness.com
