NYX GAMING GROUP LTD 11 PCT DEBS V.NYX.DB

RE:RE:Open bet is not just a rumor

[stocksnbonds]

Not much to post really on my part. Was thinking a deal was imminent but nothing came from the company this past Monday, given the news rumours. Is there something to it?  Likely, but how serious is the question? Was hoping NYX would come out with a PR confirming or denying without providing details. Nuttal would have more info than most on his board. He was surely talking about the openbet deal. 
Grinder, you wrote, 
"It seems like it might unlock a lot of value since NYX is in the public market and would immediately make them a much more attractive investment for Institutional investors and perhaps move them over to the Toronto Exchange of off the small board."

I would agree 100%. The deal would be mostly debt but still a big issuance of stock to accompany the deal. I don't know if 100% debt would be able to be financed with cashflow currently from openbet and current operations. Highly unlikely. If the deal goes through, the growth in size of the company would be accompanied by a marked increase in share price, very similar to Amaya's deal. That is exactly what I was referring to in my posts a week ago.  Another Canadian example is when smaller Indigo purchased much larger Chapters a number of years back. It happens although the terms of debt repayment are key. If WH is the partner, NYX is in good hands. They are reputable and NYX already supplies them with a number of casino games. Openbet would make Chartwell and Cryptologis seem like small minnow aquisitions in comparison. 

Good luck with your holdings. Seems you've almost broken even. Most longs are in the $4-5 average cost. Most institutions as well I should add. Here's hoping NYX gets off the venture. I was hoping they'd be on the main board by now. Usually it takes a minimum of 1 year on the venture for promotion.  We've more than passed that mark unless final year earnings are required. Not sure about the details. One step at a time. At least the company is cash flow positive. 

Good luck this week,

sb