NYX Gaming Group Limited (TSXV: NYX) ("NYX Gaming Group") is pleased to announce the acquisition of Side City Studios Inc. ("Side City"), a Montréal based development studio, on November 20, 2015
LAS VEGAS, Nov. 20, 2015 /CNW/ - NYX Gaming Group Limited (TSX VENTURE: NYX) ("NYX Gaming Group"), a market leading content and technology supplier to lotteries, casinos and gaming operators across the globe, is delighted to announce the acquisition of Side City development studio located in Montréal, Québec, through its wholly-owned subsidiary, NYX Digital Gaming (Alberta) Inc.
The acquisition provides NYX Gaming Group with a studio that produces casino gaming content that caters traditionally to a North American bricks-and-mortar clientele. Side City produces gaming art and animations, math and sounds of high quality and delivers these via two business models: direct contracts with game manufacturers and through game distribution agreements for both land-based and online gaming.
The studio provides NYX Gaming Group with an excellent base in North America to expand its development capabilities in the talent rich market of Montréal. The purchase price consisted of the issuance of 333,000 ordinary shares of NYX Gaming Group and a maximum performance-based cash payment of CAD $4.0 million conditional upon Side City meeting certain performance criteria for the 2016 and 2017 calendar years. The total assets acquired were less than 0.5% of NYX Gaming Group's total assets at June 30, 2015.
Matt Davey, Chief Executive Officer, NYX Gaming Group said, "Side City is another example of NYX's ability to identify and execute on investments that fit into the global content strategy of the company. Further, Side City gives us unique content for the North American market that complements our existing North American business and gives us an entry point to the United States land-based market with existing customer relationships."
ABOUT NYX GAMING GROUP
NYX Gaming Group Limited is a leading digital gaming supplier headquartered in Las Vegas with a staff of more than 350 employees based in 8 countries across Europe, North America and Australia. It provides one of the world's largest portfolios of market leading content and technology to some of the largest gaming operators, lotteries and casinos across the globe. NYX also has one of the broadest distribution bases in the gaming industry with over 170 unique customers and a collective game catalogue of over 650 games. The market leading game catalogue includes slots, table games, scratch cards, lottery, bingo and poker available across web and mobile formats.
NYX Gaming Group Limited is a proud recipient of the Special Achievement Award from EGR, which recognized the group's consistent growth and innovation in multiple e-gaming verticals.
NYX Gaming Group Limited is listed on the TSX Venture Exchange under the symbol (TSXV: NYX).
About Side City
Side City Studios Inc. is a digital production studio based in Montréal, Canada with multidisciplinary expertise that focuses on gaming content for land based, online and social gaming. The company produces premium graphics, sound, and animations and delivers these components either individually or as complete games. Side City's customers include major land-based gaming manufacturers and distributors as well as online and social gaming providers.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE NYX Gaming Group Ltd.
For further information: Matt Davey, Chief Executive Officer, NYX Gaming Group, (702) 586-8428, www.nyxgg.com; Joann Head, Investor Relations, Direct: (702) 586-5711, email@example.com