Gaming solutions provider NYX Gaming Group has entered into a share price agreement to acquire the entire issued share capital of Amaya Inc., a B2B business that comprises Amaya Gaming subsidiaries Chartwell Technology and CryptoLogic Limited.
Subject to working capital adjustments. NYX will acquire the B2B business for a cash consideration of CAN$150 million (€111.3 million/US$119.5 million).
The agreement is due to be completed by the end of the third quarter.
The deal comes after Amaya earlier this year stated its intention to divest its Amaya Inc. B2B Business and its other non-core B2B assets in order to pay down debt and buy back shares.
NYX had been granted a right-of-first-offer to acquire Amaya Inc. as part of a previous deal, under which NYX acquired the gaming company’s Ongame Network B2B poker network.
As part of the new acquisition deal, upon closing, NYX will enter into a six-year preferred supplier licensing agreement with a subsidiary of Amaya to provide various casino gaming content to the firm’s Amaya Casino real-money casino service.
Amaya Casino, which will be integrated into the Amaya-owned PokerStars and Full Tilt branded casino websites, will have access to the combined library of NYX content and Chartwell and Cryptologic titles.
NYX said that this arrangement would allow it to expand its game library from 350 games to 650 titles, while its customer base will grow from 130 to more than 170.
“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,” NYX chief executive officer Matt Davey said.
“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, chief executive officer of Amaya, added: “We are pleased to further deepen our relationship with NYX as a strategic partner and supplier to our B2C online casino operations.
“This 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.”
source : www.igamingbusiness.com
