William Hill no longer standing in way of NYX and Scientific Games deal
William Hill have dropped their opposition to the takeover of NYX Gaming Group by Scientific Games, ending the legal action which had surrounded the proposed deal.
Last year William Hill and Sky Bet teamed up to invest £100 million in NYX after NYX had bought betting industry software provider OpenBet for £270m.
In September it was announced that NYX had accepted a bid from Las Vegas-based Scientific Games, a move which prompted William Hill to try and block the deal. In turn NYX and Scientific Games launched litigation against the British company.
However that has now been dropped after William Hill announced they had reached agreement with Scientific Games to unconditionally support the proposed acquisition of NYX.
William Hill's chief executive Philip Bowcock said: "These agreements safeguard William Hill’s technology roadmap and relationship with NYX and end all legal action between the parties."
Both sides have been closely following developments in the United States which could lead to the widespread legalisation of sports betting.
On Monday the US Supreme Court heard evidence in a legal challenge to the 1992 Professional and Amateur Sports Protection Act (PASPA) which bans sports betting in all but a handful of states. A verdict is expected by next summer.
Bowcock added: "Additionally we are pleased to expand our commercial relationship with Scientific Games in the US market which offers considerable potential should the Supreme Court ruling on PASPA, which is expected next year, provide states with the power to regulate sports betting.
"We will unconditionally support Scientific Games in their acquisition of NYX and we have no hesitation in recommending other shareholders to do the same."
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