William Hill is considering the proposed acquisition of NYX Gaming

Business News

William Hill notes the announcement by NYX earlier today of its apparent determination to frustrate the contractual rights William Hill obtained when it enabled NYX to purchase OpenBet. 

To correct two assertions made in the NYX announcement, William Hill is considering the proposed acquisition of NYX by Scientific Games Corporation and no decision has been made at this time.

William Hill, which made its investment to protect its commercial relationship with Open Bet, has issued a notice to convert its £80 million of preference shares in NYX into ordinary shares, which would give it a stake of 31.9 per cent.

NYX claimed yesterday that William Hill could use the enlarged stake to block the Scientific Games deal if it was unable to negotiate a fresh commercial deal on Open Bet, suggesting that the terms it was demanding could be anti-competitive.

William Hill refuted the suggestion that it was being anti-competitive. It also claimed that it was seeking to protect its Open Bet relationship and had yet to decide on how it would vote.