NYX Gaming reveals strategic investment for US subsidiary

NYX Gaming Group has announced that a private investor has made a strategic investment of Can$10 million (€6.6 million/US$7.2 million) for a 25% stake in its wholly-owned US operating subsidiary.

The investment is not convertible into ordinary shares and remains subject to certain conditions, such as an agreement on amended and restated governing documents and obtaining specific regulatory approvals.

NYX said that the investment will strengthen its balance sheet and support its momentum in the North American market.

Matt Davey, chief executive of NYX, said: “This capital investment will allow us greater flexibility in the execution of our growth strategy, without diluting our shareholders from our aggregate business.”

Meanwhile, NYX has confirmed that Staffan Lindgren is to step down from his position as a director of the company, effective January 1.

Lindgren will be replaced by Craig Billings, an independent adviser and investor in the gaming industry who, until November, served as chief digital officer at Aristocrat Technologies.

Billings has also held various senior roles with IGT and the investment banking division of Goldman Sachs.

In addition, NYX has appointed James Merkur to an independent director role, effective January 1.

Merkur has held a number of senior roles with Canaccord Genuity, CIBC World Markets and Goldman Sachs.

source : www.igamingbusiness.com

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