Amaya completes sale of B2B assets to NYX
Gaming giant completes CA$150m sale of Chartwell and Cryptologic to NYX Gaming Group
Amaya Gaming has finally disposed of its remaining B2B assets after completing the sale of its Chartwell and CryptoLogic businesses to NYX Gaming for CA$150m, the gaming giant has confirmed. [private]
The Toronto-based firm decided to divest its entire B2B division back in January in a bid to reduce debt following its $4.9bn acquisition of PokerStars and Full Tilt.
As part of the deal, Amaya and NYX will enter into a supplier licensing agreement for six years that will see NYX provide casino content for Amayaâs PokerStars and Full Tilt sites.
âWe are very proud to have created substantial value in these businesses and to return that value to shareholders,â David Baazov, Amaya Gaming CEO, said.
âWith our B2B businesses now divested, we can focus on our consumer online gaming operations and enhancing shareholder value through deleveraging.
âWe also look forward to our ongoing relationship with these businesses through our licensing arrangement, which will give our casino brands access to the popular and innovative titles from NYX,â he added.
Amaya Gaming issued a Q2 trading update, last week with PokerStars and Full Tilt on track to generate revenues of up to CA$326m (£161m) during the period.
Amaya said the Q2 revenues represented year-on-year growth in its core poker and recently launched casino vertical, which accounted for 12% of total revenues.
Further reading:Â Analysis – Is Amayaâs poker business in decline?