So NYX finally bought the assets formerly known as Chartwell and Cryptologic from Amaya for CAD$150m.
That is US$120m or SEK1bn or AUD$157m or £81m depending on your choice of currency. And the US-based Anglo-Swedish-Australian, Canadian-listed NYX could probably choose any of them. It is not billions but it is still a fair amount of money for an asset that generated revenue of just $17.4m last year with a negative EBITDA of $7.6m.
Amaya sweetened the $150m asking price by guaranteeing NYX a minimum of $12m per year to use its games on PokerStars and Full Tilt for the first three years of a six-year contract. In a swoop, Amaya just increased its former assets’ revenues by 69 per cent.
Of course, that is a minimum figure. Given the revenue-share agreement, NYX hopes it will increase that $12m significantly.