NYX Gaming has pulled off arguably the deal of the decade by acquiring OpenBet in a deal that also sees William Hill and Sky Betting and Gambling (SB&G) taking stakes in the company.The deal, which is costing close to £300 million, has been agreed to be paid in cash, in full, with nearly £100 million of that setting a third party debt that OpenBet has.William Hill has invested £80 million into OpenBet, and another £10 million into NYX to support the deal.This deal seems to be met with optimism by all parties, with both William Hill and SB&G making it very clear that they are excited by the opportunity, as well as the clear joy that NYX have due to the deal being successful.
Opinions
Chief Executive of SB&G Richard Flin said that he and the company as a whole are “confident that NYX will be excellent owners of OpenBet and will bring a fresh perspective to the business”.William Hill Chief Executive James Henderson said that the deal would be instrumental in their technology development strategy saying:“This route draws on the OpenBet team’s proven sports betting technology expertise and NYX’s gaming platform to give us a bespoke technology solution to support and deliver our UK and international growth strategies.”NYX Gaming have said that the deal will not produce any immediate changes to the OpenBet management team, which is currently headed up by Jeremy Thompson-Hill, who said “The joining of OpenBet and NYX is a natural union born out of synergies in product, the customer base and, importantly, culture.”