LAS VEGAS, Nevada, May 31, 2016 - NYX Gaming Group Limited (TSX VENTURE: NYX) ("NYX Gaming Group"), a market leading content and technology supplier to lotteries, casinos and gaming operators across the globe, is pleased to announce the acquisition of Betdigital, a UK based supplier of gaming content and platforms.
The acquisition of Betdigital, a creator of content and systems for online, mobile, interactive TV and land-based gaming platforms will provide NYX with a game development platform and studio that caters to the UK retail and online markets. Betdigital will also provide NYX with the ability to further exploit opportunities for games development and leverage existing NYX studios for game design and art.
Founded in 2011 to develop content and systems for the UK and international gaming markets, Betdigital is known for their development of a truly-cross platform gaming engine which enables third party and online game developers to bring their content to the land-based gaming market. Betdigital has recently experienced strong growth by leveraging its expertise in the £1.7 billion UK retail machine market through the strong performance of several new gaming titles.
The purchase price consists of an upfront cash payment and earn out over three years. The maximum aggregate consideration including upfront and earn out is £24.5 million, equivalent to a 2.51x EBITDA multiple. The total assets acquired were less than 5% of NYX Gaming Group's total assets at March 31, 2016.
Heath Samples, CEO & General Counsel, Betdigital stated, “We are well-positioned to help NYX gain maximum returns from their plans for omni-channel expansion. 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.”
Matt Davey, Chief Executive Officer, NYX Gaming Group adds, “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 flavor of regional expertise and omni-channel content that will benefit NYX and OpenBet customers and shareholders immediately and over the long term.”