NYX Gaming plots public offering
Las Vegas-based supplier confirms acquisition of Ongame poker network from Amaya, files preliminary prospectus for IPO on Toronto Stock Exchange
NYX Gaming Group this morning announced plans to launch an initial public offering (IPO) on the Toronto Stock Exchange and confirmed the acquisition of the Ongame poker network from Amaya Gaming.
NYX said it had filed its prospectus with the security commissions with each of the provinces and territories of Canada.
NYX said the acquisition of Ongame would complement its casino, bingo and lottery operations in Europe and the US by providing it with “one of the best poker products in the industry”.
“[Ongame] also gives us access to products that are regulated in several jurisdictions, and more importantly a talent pool that can help grow all parts of our business,” NYX Gaming CEO Matt Davey, said.
“The addition of Ongame is in line with our objective to continue to grow in Europe and the US. We are committed to the integration and development of Ongame’s B2B poker network. Further, through this transaction we will strengthen our relationship with one of the most successful gaming companies in the world, Amaya Gaming,” Davey added.
NYX paid eight times Ongame’s 2015 EBITDA, less any required working capital. Under the deal, Amaya also made a $10m “strategic investment” to expand on its current partnership with NYX subsidiary NextGen Gaming.
Following its acquisition of Ongame, NYX revealed it had filed a preliminary long-form prospectus for an initial public offering on the Toronto Stock Exchange.
The offering is being underwritten by Canaccord Genuity, Cormark Securities, National Bank Financial, Dundee Securities, Global Maxfin Capital, and Mackie Research Capital.