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NYX Gets Closer to Amaya

NYX Gets Closer to Amaya

NYX Gaming Group Limited last month announced that it had entered into a share purchase agreement to acquire the entire issued share capital of Amaya (Alberta) Inc., formerly Chartwell Technology Inc. and

CryptoLogic Limited, each of which is a wholly owned subsidiary of Amaya Inc. Earlier this year, Amaya announced its intention to divest the B2B business and its other non-core B2B assets in order to pay down debt and/or buy back shares. Amaya had previously granted NYX a right-of-first-offer to acquire the B2B business concurrent with Amaya’s sale of Ongame Network Ltd. to NYX in November 2014.

NYX will acquire the B2B business for C$150 million (US$119 million) in cash, subject to working capital adjustments. The B2B business is being acquired on a cash-free, debt-free basis. The acquisition is anticipated to close before the end of the third quarter of 2015 and is subject to financing and other customary closing conditions. As part of the acquisition, on closing NYX will enter into a preferred supplier licensing agreement with a subsidiary of Amaya to provide certain casino gaming content to Amaya’s real-money casino offering, which will be integrated into the PokerStars and Full Tilt branded casino websites.

“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,” said Matt Davey, CEO of NYX. “As part of our agreement to acquire Ongame we negotiated a right of first offer to purchase the Cryptologic and Chartwell business, as we saw it as highly strategic to our existing business. This transaction completes the strategy we embarked upon with Ongame. 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.”

“We are pleased to further deepen our relationship with NYX as a strategic partner and supplier to our B2C online casino operations,” said David Baazov, CEO of Amaya. “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.”