Scientific Games Corporation receives major encouragement

The plan from Scientific Games Corporation to buy online casino games innovator NYX Gaming Group Limited outright received another major boost yesterday after private investments firm Pollard Equities Limited gave its backing to the proposed takeover.

Las Vegas-based Scientific Games Corporation announced in September tha 7BALL CX t it was prepared to spend upwards of $631 million in order to acquire NYX Gaming Group Limited before subsequently shelling out some $48.95 million to obtain just over 24% of the Toronto-listed firm from a pair of other investors.

The planned purchase then received the support of significant NYX Gaming Group Limited shareholders Sky Betting and Gaming, William Hill and AlpInvest Partners Co-Investments as well as independent proxy advisory firms Institutional Shareholder Services Incorporated and Glass Lewis and Company.

Scientific Games Corporation explained that Winnipeg-based Pollard Equities Limited stands to make around $16.06 million by selling the just over 8.62 million shares and four million warrants it holds in NYX Gaming Group Limited with the whole proposal now due to be put to a final shareholder vote on Wednesday.

“The shareholders meetings to approve the acquisition are scheduled for December 20 in Las Vegas, Nevada, and Scientific Games [Corporation] and NYX [Gaming Group Limited] encourage all shareholders of NYX [Gaming Group Limited] to cast their votes in favor of the acquisition,” read a statement from Scientific Games Corporation.

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