William Hill Invests £80 Million to Support NYX Acquisition of OpenBet
NYX Gaming Group has signed a deal to acquire OpenBet with leading UK bookmaker William Hill and UK gambling company SkyBet supporting the deal through a commercial agreement and financial investment.
William Hill has invested £80 million with rival SkyBet investing a further £20 million to support the £270 million takeover of OpenBet by NYX. The ten-year commercial deal will support the creation of a larger NYX Gaming Group, as well as develop William Hill’s sports betting, gaming and retail offerings. There is a 3-year development project to modernise OpenBet technology.
“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,” announced James Henderson, chief executive of William Hill.
“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.”
Although they were not included in the deal, Paddy Power Betfair which recently merged, expressed their support of the deal and their hopes that they would continue to work with NYX and OpenBet to receive high-quality service for their customers.
Chief executive of NYX, Matt Davey stated: “The acquisition of OpenBet by NYX completes the core portfolio of industry-leading products and services we offer to our customers.”
“They are two highly complementary businesses with key strengths in regulated markets, technology services and gaming content. 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.”
April 16, 2017