April 4 (Reuters) - Nyx Gaming Group Ltd NYX.V
* NYX Gaming Group is pleased to announce the acquisition of
Openbet, the market leading business-to-business sportsbook and
digital gaming supplier for £270 million
* Deal for total consideration of 270 million pounds which
includes repayment of Openbet's GBP 95.4 million existing third
party debt
* Says boards of directors of NYX and Openbet have
unanimously approved transaction contemplated by agreement
* William Hill and Sky Betting and Gaming will be
participating in deal through preferred equity investment of
£100 million
* Expects transaction to be accretive to adjusted earnings
per share and provide meaningful free-cash-flow
* Says William Hill has engaged NYX and Openbet in a
development program to further modernize Openbet's Technology
* Purchase price will be financed through new senior secured
credit facilities, convertible preference shares in a new unit
* Deal will also be financed through placement of new
unsecured convertible debentures, "bought deal" private
placement offering
* Says NYX expects to generate annual cost synergies of
C$4.0 to C$6.0 million and revenue synergies of C$8.0 to C$10.0
million
Source text for Eikon: ID:nCNWkq8PGa
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