Scientific Games announced last week that it will be purchasing the NYX Gaming Group for the handsome sum of $631 million. The groups will be merging, with Scientific Games hoping to increase its presence in the online and land gambling markets in the United States and around the world. Scientific Games made no secret of the fact that it wants to play a stronger role in a future regulated and legalized online gambling and sports betting industry in the United States.
“Scientific Games will now be perfectly positioned to capitalize on future regulatory developments in real-money wagering and sports betting by adding NYX’s industry-leading OpenBet Sportsbook,” said the group in its press release announcing the acquisition of NYX Gaming. “NYX’s digital Sportsbook can be seamlessly delivered throughout Scientific Games’ global gaming and lottery networks in existing and future regulated US and global markets.”
The Chief Executive Officer of Scientific Games, Kevin Sheehan added: “This strategic and financially compelling acquisition combines NYX’s premier digital gaming and sports betting platforms and expansive distribution network to our own global, industry-leading content, technologies and digital products and services.”
The CEO of NYX Gaming Group, Matt Davey, has always been of the opinion that the group was in an excellent position to take part in a growing US gambling industry. It was only last month that Davies said: “We see great potential for the US market to accelerate over the next several years, in both gaming and sports betting, and we are well positioned for this opportunity, as it develops.”
Scientific Games will be paying Canada’s NYX Gaming Group Ltd around C$775 million ($631 million), including debt. NYX shares jumped a staggering 106% on the Toronto Venture Exchange last week. The deal is expected to officially close early next year, according to a joint announcement made by the groups.
Over the summer, Scientific Games also announced that it was buying the UK-based Red7Mobile, a company which makes mobile and desktop casino games.
As such, Scientific Games is primed to maintain an even greater presence in the ever-expanding US gambling market. The purchase deal comes ahead of the US Supreme Court’s decision to hear New Jersey’s appeal to strike down the federal sports betting ban, PASPA.
