US gaming technology provider Scientific Games Corporation has increased its stake in rival NYX Gaming Group, in part via a transaction with the parent company of online poker giant PokerStars.
On Friday, Sci-Games announced that it had boosted its stake in the Toronto-listed NYX to just over 36% of that company’s issued and outstanding ordinary shares. Sci-Games, which as of last week held no stake whatsoever in NYX, announced earlier this week that it had acquired a 10.7% stake in NYX.
Sci-Games’ latest share purchase cost the company C$87.7m (US$69m), bringing Sci-Games’ total outlay this week to nearly C$115m. The deals also include share purchase warrants and exchangeable preferred shares, which, if fully exercised, would bring Sci-Games’ total NYX stake to 42.7%.
A hefty chunk of Sci-Games’ most recent NYX share purchase came via The Stars Group, the Toronto-listed parent company of PokerStars. Amaya Gaming, the Stars Group’s previous corporate identity, took a significant slice of NYX when Amaya sold its Chartwell and Cryptologic gaming software divisions to NYX in 2015.