William Hill And Nyx Gaming Put In Joint Bid For OpenBet
According to reports in the UK Telegraph, William Hill is joining forces with NYX Gaming Group in an effort to takeover software provider OpenBet for a sum of £300 million. Currently NYX has a market capitalization of only £65 million but with the partnership of the largest UK bookmaker they could well succeed in their takeover bid. OpenBet supplies its software to most of the biggest bookmakers in the UK including William Hill and is expected to reach around the £300m mark.
What makes this even more interesting is the potential bidding war with Playtech who have plenty cash to spend after failed acquisition attempts in the past few months. Many fear that Playtech could further increase their dominant position in the gaming world should they acquire OpenBet. OpenBet was acquired five years ago by the private equity firm Vitruvian Partners when it backed a management buy out of the firm. As of now both Nyx and William Hill have declined to comment.