LAS VEGAS, Dec. 22, 2015 /CNW/ - NYX Gaming Group Limited (TSX VENTURE:NYX) ("NYX" or the "Company"), a market leading content and technology supplier to lotteries, casinos and gaming operators across the globe, is proud to announce a strategic investment of CAD$10 million for a 25% interest in its wholly-owned US operating subsidiary from a private investor.
"This capital investment will allow us greater flexibility in the execution of our growth strategy, without diluting our shareholders from our aggregate business," said CEO of NYX Matt Davey.
The investment is not convertible into ordinary shares and is subject to certain conditions including agreement on amended and restated governing documents and obtaining certain regulatory approvals. This investment immediately strengthens the Company's balance sheet and adds to the Company's momentum in the North American market.
In addition, the Company would like to announce several changes to its board of directors which remain subject to customary regulatory approvals. Mr. Staffan Lindgren is stepping down from his director's position effective January 01, 2016. NYX wishes to thank Mr. Lindgren for his excellent contribution to the Company during his time on the board. Mr. Lindgren will be replaced by Mr. Craig Billings.
Mr. Billings is an independent advisor and investor to the gaming industry who brings a range of highly relevant skills and experience to the NYX Board of Directors. Until November 2015, Mr. Billings was Chief Digital Officer of Aristocrat Technologies (ASX:ALL). He has had a long and successful history in the gaming industry, having held senior roles at IGT (NYSE:IGT) and the Investment Banking Division of Goldman Sachs. Mr. Billings holds a Bachelors degree from the University of Nevada Las Vegas and a Masters of Business Administration from Columbia Business School.
NYX has also created an additional independent director position beginning January 01, 2016 to further strengthen its good governance. The position will be filled by Mr. James Merkur. Mr. Merkur brings a wealth of experience in the public capital markets including senior roles at Canaccord Genuity, CIBC World Markets and Goldman Sachs. Mr. Merkur holds a Bachelor of Commerce Degree from McGill University and a combined JD/MBA from the University of Toronto.
About NYX Gaming Group Limited
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. The Company 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 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 is also 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).
Caution Regarding Forward-Looking Statements
Certain statements included herein, including those that express management's expectations or estimates of our future performance, constitute "forward-looking statements" within the meaning of applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "will", "should", "expect", "plan", "anticipate", "believe", "intend", "estimate", "potential" or the negative of these terms or other similar expressions. Forward looking statements are based on certain assumptions regarding the Company's expected growth, results of operations, performance, industry trends and growth opportunities. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management at this time, are inherently subject to significant business, economic and competitive risks, uncertainties and contingencies that could cause actual results to differ materially from those expressed or implied in such statements. Investors are cautioned not to put undue reliance on forward looking statements. Applicable risks and uncertainties include, but are not limited to: credit, market, currency, operational, liquidity and funding risks, including changes in economic conditions, interest rates or tax rates, the impact of government regulation on the on-line gaming industry and the risk that such regulation is subject to change, competition from other providers of online gaming services, the risks associated with international and foreign operations, the impact of consolidations in the online gaming industry and the other risks identified under the heading "Risk Factors" in the Company's final long form prospectus dated December 18, 2014, as filed on SEDAR at www.sedar.com, and in other filings that NYX may make with applicable securities authorities in the future. The forward-looking statements contained herein reflect NYX's current views with respect to future events, and except as required by law, NYX does not intend, and undertakes no obligation, to update any forward-looking statements to reflect, in particular, new information or future events, or otherwise.
Neither the 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 Limited
For further information: Matt Davey, Chief Executive Officer, NYX Gaming Group Limited, 1-702-586-8428; Joann Head, Investor Relations, (702) 586-5711, [email protected]