UK and Ireland bookmaker William Hill plc has announced the filing of a legal complaint against the proposed acquisition of NYX Gaming by fellow gaming heavyweight Scientific Games.
William Hill, a minority shareholder in NYX gaming, has requested that its convertible preference shares be converted into ordinary shares of NYX no later than December 4, 2017, to enable William Hill to vote in connection with the proposed acquisition. Any conversion would give William Hill 32% voting stock in NYX Gaming, allowing it to do so.
This move has been made by the firm “in order to protect the rights and interests of William Hill”; however numerous reports have suggested that the company is seeking to block the acquisition over concerns about the future potential revenue opportunities afforded by legalisation of sports betting in the US.
NYX subsidiary OpenBet would be ideally placed to take advantage of any relaxation in US sports betting legislation if the Supreme Court review, coincidentally due to take place on December 4, were to call for the repeal of the Professional and Amateur Sports Participation Act.
Full Content: CBS Detroit
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
