Toronto-listed gaming supplier NYX Gaming Group has completed the acquisition of B2B online casino businesses Chartwell Technology and CryptoLogic from Amaya.

NYX has paid an initial purchase price of CAD$110m in cash, subject to a customary working capital adjustment, and issued $40m exchangeable preferred shares of a subsidiary of NYX to Amaya.

NYX also entered 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 very excited about the completion of the acquisition and the partnership with Amaya, which will provide NYX with additional leading gaming content, a broader customer base and access to what we believe will be one of the world's largest online casinos,” said Matt Davey, CEO of NYX.

“The long-term preferred supplier licensing agreement provides a fantastic opportunity to showcase our market leading content through direct exposure to the rapidly growing PokerStars and Full Tilt casino offering.”

"We are very proud to have created substantial value in these businesses and to return that value to shareholders," said David Baazov, Chairman and CEO of Amaya. "With our B2B businesses now divested, we can focus on our consumer online gaming operations and enhancing shareholder value through deleveraging."

"We also look forward to our ongoing relationship with these businesses through our licensing arrangement, which will give our casino brands access to the popular and innovative titles from NYX," Baazov added.

The initial purchase price was financed through a combination of the net proceeds of the company's $105.1m bought deal public offering (of $60.1m equity subscription receipts and $45m debt subscription receipts), and the net proceeds of its private placement of $25m debt subscription receipts to a US institutional investor.

Shares in NYX Gaming Group Ltd (Co. Data) (TSX:NYX) closed up 2.01 per cent at $3.55 per share in Toronto Thursday.

Related

GIQ Magazine Digital Edition