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SG acquires NYX Gaming Group shares

Scientific Games has announced the acquisition of a 10.7 percent stake in NYX Gaming Group through the purchase of 11.6 million ordinary shares in the company.

The recent purchase follows on from a September announcement regarding the company’s plans to acquire the entire stake in NYX Gaming Group for an aggregate of CA$775 million (US$608.3 million). The deal would be funded through cash and debt and is expected to close in the first quarter of 2018.

According to the recent company press release, the acquired shares were purchased through the facilities of the TSX Venture Exchange at prices ranging from CA$2.22 to CAD$2.35 per share, representing an aggregate purchase price of CA$27.1 million.

Earlier in the day, Scientific Games and NYX also announced it entered into an amended agreement regarding NYX Gaming Group’s acquisition.

Under the amendment, Scientific Games and NYX have agreed that should the acquisition of NYX by Scientific Games not be approved by shareholders of NYX at the shareholder vote in December or not move forward for other specified reasons, Scientific Games will make a contractual takeover offer to NYX shareholders for the same share price contained in the arrangement agreement.

In addition, earlier today NYX agreed to waive the existing standstill with Scientific Games contained in the agreement between Scientific Games and NYX so that Scientific Games and its affiliates could purchase any ordinary, preferred or other equity securities of NYX or any of its subsidiaries.

Scientific Games added that it may acquire additional ordinary shares pursuant to the acquisition, takeover offer, market or private purchases or any other means.

Asia Gaming Brief is a news and intelligence service providing up to date market information for worldwide executives on relevant gaming issues in Asia.

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