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William Hill investment in NYX Openbet
Tuesday, April 5, 2016 : MORE ON WILL HILL INVESTMENT IN NYX OPENBET ACQUISITION (Update)
Establishes clear technology road map says William Hill.
William Hill Plc’s investment of GBP 80 million in the form of a note redeemable in cash or shares in NYX Gaming Group supporting the acquisition of Openbet along with a further GBP 10 million in equity in NYX and a 10-year commercial agreement secures the company’s existing technology platform and establishes a clear roadmap for its future development, William Hill said in a statement Monday.
The ten-year commercial agreement with NYX, following completion of NYX’s Openbet acquisition, covers the further development of William Hill’s existing sports betting, gaming and retail platforms along with the development of a new platform over the next three years.
“Our new commercial agreement is a key step in delivering our technology strategy by enhancing our current platforms and, in parallel, developing a new back-end platform for William Hill to complement and support our Trafalgar platform which is focused on our front-end user experience,” James Henderson, chief executive officer of William Hill said.
“This route draws on the OpenBet team’s proven sports betting technology expertise and NYX’s gaming platform to give us a bespoke technology solution to support and deliver our UK and international growth strategies.”
“To have a consortium of operators with the pedigree of William Hill and Skybet and the public support of Paddy Power Betfair highlights the strength of NYX’s proposition and I look forward to extending our relationship with them,” Matt Davey, chief executive of NYX Gaming Group added.
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