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

RE:RE:RE:RE:SP

[stocksnbonds]

I looked back at the agreement. NYX will be supplying software to WH for awhile still. 
I ciut and pasted a piece from the NYX purchase of OpenBet whereby just the OB technology will take 3 years to modernize in association with WH at a cost of 10 million pounds. That's guaranteed. 
I can't find how long the WH deal is for though. likely much longer than 3 years. Why put in that money for software not being used in 3 years ?

 

• Further to William Hill's preferred equity investment, William Hill has engaged NYX and OpenBet in a development program (the "Development Program") to further modernize OpenBet's technology. The Development Program will take approximately three years to complete and is estimated to generate £10.0 million in EBITDA to NYX over that three year period

In any event, I will see how far this knife falls then see if I'll purchase more.  If anything the WH angle may prove to be a boon whereby NYX may have an opportunity to supply 888 and Rank Casino. Who knows where the chips will fall. The news articles I posted yesterday were steadfast that no formal offer was made. One needs to be made by Aug 22 as I recall. Only talk of a consortium wanting to buy WH. No formal offer.  WH is in a low share price environment so it's weaker now than it was a couple of years ago when the ousted CEO took over. The consortium, if successful would be a highly leveraged purchase as both 888 and Rank combined have a market cap about 75% of WH. Lots of debt to do this deal and I'm sure a boatload of equity. Sort of like Amaya taking over Rational and NYX taking over Openbet.

 I doubt WH after all these decades as a stand alone operation will want to sell out at the bottom like this but hey, who am I but a lowly investor trying to not catch a falling knife. 

sb