Canadian online casino operator The Stars Group Incorporated (Nasdaq: TSG; TSX: TSGI) has announced that last week saw it earn approximately $27.74 million by offloading the entirety of its 13.7% shareholding in NYX Gaming Group Limited to global gaming machines innovator Scientific Games Corporation.
Toronto-based The Stars Group Incorporated is responsible for virtual brands such as PokerStars and FullTilt and declared that the Friday deal for 7,021,352 NYX Gaming Group Limited shares means that it now ‘no longer directly or indirectly beneficially owns, controls or directs any securities’ in the online casino games innovator.
Nasdaq-listed Scientific Games Corporation revealed in September that it had agreed a deal that would see it spend upwards of $631 million in order to buy NYX Gaming Group Limited outright although this transaction remains subject to approvals at an upcoming December shareholders meeting.
After previously possessing no shares in NYX Gaming Group Limited, last week also saw Scientific Games Corporation shell out just over $21.21 million in order to acquire an initial 10.7% stake in the Toronto-listed innovator, which means that its total holding now stands at in excess of 24%.
“In the future, Scientific Games [Corporation] may acquire additional ordinary shares pursuant to the acquisition, the takeover offer, market or private purchases or any other means,” read a November 21 statement from Las Vegas-based Scientific Games Corporation. “However, Scientific Games [Corporation] may from time to time also dispose of securities of NYX [Gaming Group Limited].”