Las Vegas Review-Journal

NYX timeline

-

Early 2016: Gibraltar-based sports wagering company William Hill Group invests in NYX Gaming Group, a Canadian software company that produces the Openbet wagering platform.

April 2016: William Hill increases its position in NYX by acquiring preferred stock that gives the company the equivalent of a 31.9 percent ownership position.

June 27, 2017: U.S. Supreme Court agrees to hear Christie v. NCAA, a case based on the Profession­al and Amateur Sports Protection Act, which bans sports wagering in all but four states, including Nevada.

Sept. 20, 2017: Las Vegas-based Scientific Games announces plans to acquire NYX for $631 million.

Nov. 2, 2017: In an earnings call, Scientific executives express optimism about entering the sports book market with its acquisitio­n of NYX.

October-november 2017: William Hill seeks assurances on the use of Openbet. Scientific considers William Hill’s bid for assurances anticompet­itive.

Nov. 21, 2017: Scientific announces the purchase of $21.3 million in

NYX shares with the intent of a corporate takeover if shareholde­rs don’t approve the acquisitio­n.

Nov. 24, 2017: Scientific announces purchase of another $69 million in NYX shares.

Dec. 4, 2017: Oral arguments presented on Christie v. NCAA before the Supreme Court. A decision on nationwide sports betting is anticipate­d in 2018.

Dec. 17, 2017: Pollard Equities Ltd., which holds 8.6 million shares and 4 million warrants in NYX, pledges to back Scientific’s acquisitio­n bid.

Dec. 20, 2017: NYX shareholde­rs overwhelmi­ngly approve Scientific’s acquisitio­n with more than 99 percent of shares favoring it. By law in Guernsey, a Crown dependency in the English Channel Islands where

NYX was incorporat­ed, an acquisitio­n vote requires 75 percent approval. Approval of a takeover bid requires a majority vote.

Jan. 5, 2018: A judge in Guernsey will consider validating the results of the Dec. 20 vote.

Newspapers in English

Newspapers from United States