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NYX Gaming Expects More Gaming Opportunities After Acquiring Betdigital
By Brodey Sheppard - June 29, 2016
The Toronto-listed sports betting platform provider agreed to an upfront cash payment as well as an earn out over three years. The maximum aggregate consideration totalled to £24.5 million. NYX Gaming did not disclose the amount of the upfront cash payment. What was mentioned in the announcement was that the total payable was determined by calculating a 2.51x multiple of the earnings of Betdigital.
Wider Gaming Horizon for NYX Gaming
Expect to see new mobile casino games from NYX Gaming because the acquisition of Betdigital will open more opportunities for the company. NYX Gaming shared that this move will allow them to “further exploit opportunities for games development.” The acquisition will also bring their game design and art departments to a higher level. It goes without saying that aside from online slots game Bloopers, we will be able to see the software developing more gaming titles for the online casino and slots sectors.
NYX Gaming chief executive said, “In Betdigital, we have identified an asset that will strengthen our reach and underpin the global content strategy of the company.
“Particularly, Betdigital allows NYX to strengthen its position in the UK market, providing another unique flavour of regional expertise and omni-channel content that will benefit NYX and OpenBet customers and shareholders immediately and over the long term.”
Betdigital chief executive and general counsel Heath Samples also believes that their company will be able to help NYX maximise their returns from “their plans for omni-channel expansion.”
Samples shared, “Being a part of the NYX family will accelerate Betdigital’s growth story by leveraging the cross sell opportunities available with the NYX customer base and by providing them with world-class content.”
Operating since 2011, Betdigital is a company known for providing gaming systems and content to mobile and online casino gaming, interactive TV as well as land-based gaming platforms in the United Kingdom.
NYX Gaming’s Revenue Increase
Last week, NYX Gaming released its first quarter earnings report which showed that its revenue was up 89 percent to $14.4 million. The increase comes after the company acquired Amaya Gaming’s B2B software brands Chartwell and Cryptologic last year. Without those contributions, the company’s organic growth was up 32 percent to $13.1 million. Meanwhile, NYX Gaming’s adjusted earnings doubled to $4.8 million. On the other hand, the company expects to see OpenBet accounting for about 55 percent of NYX Gaming’s revenue in coming quarterly reports.