NYX Gaming Group acquires OpenBet for £270 million
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NYX Gaming Group have recently announced the acquisition of OpenBet for £270 million, a move which will see betting and gaming platforms combined.
On Monday, April 4 NYX Gaming declared the acquisition of the market leading bookmaker, with William Hill and SkyBet backing the move with an £80 million and £20 million investment, respectively. The investment has also paid off the £95.4 million debt incurred by OpenBet.
As per a statement on NYX Gaming’s website, “the transaction will join together two of the world’s most established and proven suppliers to create an organisation that will deliver the leading end to end solution for regulated gaming markets. The combined strength of the two businesses will provide customers around the globe with premium betting and gaming solutions across all channels.”
Additionally, “the structure of the transaction allows NYX and OpenBet to further invest in the combined platform, products and content to deliver greater efficiencies and innovation across the customer group.”
As part of the investment, William Hill has also engaged in a three-year development program with NYX and OpenBet “to further modernise OpenBet’s technology”. This is expected to “generate £10 million in EBITDA to NYX over that three-year period”.
The CEO of NYX, Matt Davey, commented on the acquisition stating it “completes the portfolio of industry-leading products and services we offer to our customers.”
He also stated the two services complement each other and the deal “positions NYX as the leading provider of B2B betting and gaming solutions on a global scale. We are looking forward to working with OpenBet and their customers to help them to deliver world-class experiences to their players.”
The CEO of OpenBet, Jeremy Thompson-Hill, also commented on the transaction stating it is a “natural union born out of synergies in product, the customer base and, importantly, culture. It will enable us to leverage our knowledge, strengths and resources to deliver our customers with best-in-class products and technologies across all verticals and channels.”
Key highlights of the transaction between NYX and OpenBet
The key features to the acquisition include:
- Since OpenBet was launched in 1996 it rose to be the largest online bookmaker in the world – 2014 saw more than 11 billion sports bets, with more than 56 million transactions in a 24-hour period
- OpenBet is regulated closely by advanced gaming jurisdictions
- The final addition to NYX’S product line is a sportsbook platform – making this the perfect opportunity for the software developer to expand to regulated markets worldwide
- NYX can gain new revenue thanks to this combined business
You can view more on this transaction by visiting the NYX website and reading the transaction overview.
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