Scientific Games’ bid to take over NYX will be unopposed by William Hill, the company announced today.
SG and WH forged an agreement and as a result all of the parties involved have withdrawn from the litigation set into motion on both sides of the Atlantic.
SG has agreed to buy the WH ordinary shares and convertible preference shares in NYX and the British bookmaker will received C$2.40 for each share. Hill held 6.8 million ordinary shares.
Commenting on the announcement, William Hill CEO Philip Bowcock said: "These agreements safeguard William Hill's technology roadmap and relationship with NYX and end all legal action between the parties.
"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."
SG is now free to pursue its acquisition proposals for NYX, a major digital gaming provider with its HQ in Las Vegas and more than 1,000 staff.