Stars Group To Sell Securities Of NYX Gaming To Scientific Games

(RTTNews) - Stars Group Inc. (TSG, TSGI.TO) said that the company and one of its wholly-owned subsidiaries, Stars Interactive Holdings (IOM) Limited, entered into a securities purchase agreement with Scientific Games Corp. (SGMS) on November 23, 2017. Stars Group is a provider of technology-based gaming and interactive entertainment products.

Under the agreement, Stars Interactive IOM has agreed to sell to Scientific Games on November 24, 2017 all of its securities of NYX Gaming Group Limited, including securities exchangeable into securities of NYX.

The securities to be sold under the disposition include 5.62 million ordinary shares of NYX, 40,000 preferred shares of NYX Digital Gaming (Canada) ULC, and 1.36 million ordinary share purchase warrants.

As a result of the disposition, Stars Group will no longer directly or indirectly beneficially own, control or direct any securities of NYX.

The ordinary shares will be sold at a price of C$2.40 per ordinary share, while the preferred shares will also be sold at a price of C$2.40 per ordinary share-equivalent per preferred share, and the warrants will be sold for no consideration. This will represent aggregate consideration payable in cash of C$35.50 million.

In addition, Scientific Games has agreed to pay Stars Interactive IOM a purchase price adjustment in certain circumstances where Scientific Games acquires NYX for consideration in excess of C$2.40 per ordinary share or sells its securities of NYX for consideration in excess of C$2.40 per ordinary share.