NYX Announces £15 million Debt Add-On to Increase Flexibility

Business News

NYX Gaming Group has announced that its wholly owned subsidiary, NYX Digital Gaming (OB SPV) Limited, amended its Senior Facilities Agreement with ARES Management to increase the term facility commitment by £15 million at the same rate as its existing term debt.  Under the terms of the amended agreement, the Company has the ability to utilize the incremental £15mm in any of the Company’s wholly-owned subsidiaries.

The Company plans to use the additional capital for working capital purposes, various organic growth initiatives in its casino business, and the continued integration of the Company’s operating businesses.  “This add-on term debt substantially enhances our financial flexibility.  It will allow for an acceleration of our consolidation strategy with OpenBet and provide an additional working capital cushion.  This is the first step of the Company’s initiative to improve its capital structure.” said CEO Matt Davey .