NYX Gaming Group Completes Debt Refinancing and Debenture Redemption

Consolidation under a single primary lender lowers overall cost of capital and facilitates debt reduction

LAS VEGAS, NV, July 24, 2017 – NYX Gaming Group Limited (TSXV: NYX) (“NYX Gaming Group”, “NYX” or the “Company”), a leading digital gaming software supplier to casino, sportsbook, lottery and bingo operators across the globe, today announced that it has closed its previously announced transaction with ARES Management Limited to refinance its existing debt. Under the transaction, NYX has amended its existing senior secured credit facilities agreement consisting of a £135.0 million term loan facility to add €74.9 million in term loan facilities and to expand its revolving credit facility from £5.0 million to £15.0 million (“Amended Facilities”).

The Amended Facilities were contemporaneously used to redeem all of the Company’s outstanding 11.0% Senior Secured Series A Debentures, 11.0% Senior Secured Series B Debentures and 11.0% Senior Secured Series C Debentures. In addition, the Company has repaid its CAD $10.0 million, 6% Unsecured Debentures.

“The completion of our debt refinancing improves our capital structure, better aligns our lending currencies to revenue, and provides greater flexibility and liquidity for NYX to execute as an integrated global group,” said Matt Davey, Chief Executive Officer of NYX Gaming Group. “The expansion of our credit facilities agreement with ARES Management, a leading global alternative asset manager, demonstrates the confidence they have in our business.”

The Amended Facilities have two components – a €43.1 million unitranche term facility, which bears interest at an annual rate of EURIBOR plus 700 basis points (EURIBOR floor of 0.5%), and a €31.8 million super senior term facility, which bears interest at an annual rate of EURIBOR plus 375 basis points (EURIBOR floor of 0.0%). The Amended Facilities have the same maturity date as the existing £135.0 million term loan facility – November 20, 2021. They are prepayable at 101% of the principal balance outstanding within the first three years and at par thereafter. The revolving credit facility matures on May 20, 2021.

Eric Matejevich, Chief Financial Officer, added, “Debt refinancing was an important step to improving our capital structure, significantly lowering overall cost of capital while extending the maturities of the instruments. With this transaction, our estimated total annual cash interest expense is down $5 million, from $28 million historically to $23 million going forward. And with simplified prepayment terms, NYX is now in a better position to deleverage through organic growth in EBITDA and free cash flow.”

Caution Regarding Forward-Looking Statements

Certain statements included herein, including those that express management's expectations or estimates of the Company's future performance, constitute "forward-looking statements" within the meaning of applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "will", "should", "expect", "plan", "anticipate", "believe", "intend", "estimate", "potential" or the negative of these terms or other similar expressions. Forward-looking statements are based on certain assumptions regarding the Company's expected growth, results of operations, performance, industry trends and growth opportunities. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management at this time, are inherently subject to significant business, economic and competitive risks, uncertainties and contingencies that could cause actual results to differ materially from those expressed or implied in such statements. Because of the factors described herein, investors are cautioned not to put undue reliance on forward-looking statements, whether as a result of new information, future events or otherwise. Applicable risks and uncertainties include, but are not limited to: credit, market, currency, operational, liquidity and funding risks, including changes in economic conditions, interest rates or tax rates, the impact of government regulation on the online gaming industry and the risk that such regulation is subject to change, competition from other providers of online gaming services, the possibility that the Company may be unable to successfully integrate the acquired businesses, the risks associated with international and foreign operations, the impact of consolidations in the online gaming industry and the other risks identified under the heading "Risk Factors" in the Company's final long form prospectus dated December 18, 2014 and final short form prospectuses dated July 9, 2015 and July 14, 2016, each as filed on SEDAR at www.sedar.com, and in other filings that NYX Gaming Group may make with applicable securities authorities in the future. The forward-looking statements contained herein reflect NYX Gaming Group's current views with respect to future events, and except as required by law, NYX Gaming Group does not intend, and undertakes no obligation, to update any forward-looking statements to reflect, in particular, new information or future events, or otherwise.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.


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