William Hill and NYX team-up for OpenBet bid, reports claim
UK operator to provide financial backing for NYX Gaming Group's attempts to acquire the supplier
William Hill is backing a NYX Gaming Group bid to acquire the up-for-sale OpenBet as the battle to purchase the sportsbook supplier intensifies, according to weekend media reports.
On Saturday The Telegraph reported Hills was ready to provide financial support for the online gaming supplier’s bid to buy OpenBet, which is thought to have a price tag of between ?250m and ?300m.
NYX currently has a market capitalisation of approximately ?65m but a partner the size of William Hill would make an acquisition a realistic prospect.
OpenBet, William Hill and NYX all declined to comment on the reports.
London-headquartered OpenBet is understood to have been put up for sale by its private equity firm owner Vitruvian Partners last year, and in recent months has been linked with a number of interested parties.
Rival firm Playtech is one such firm reportedly interested in acquiring OpenBet which, if completed, would strengthen the firm’s grip on the UK supplier market.
The sales process is currently being led by multinational financial services corporation Morgan Stanley.
Earlier this month the supplier announced the launch of a new in-venue companion app which lets players build a betslip on their phone before taking it to be scanned at the register in a bricks and mortar venue.
The firm said it would become the industry’s equivalent of “click and collect”, which has proved popular among high street retailers.