William Hill PLC Agreement on NYX (6617Y)
07 December 2017 - 6:01PM
UK Regulatory
TIDMWMH
RNS Number : 6617Y
William Hill PLC
07 December 2017
William Hill and Scientific Games Reach Agreement on NYX
7 December 2017
William Hill PLC (LSE: WMH) today announced it has reached
agreement with Scientific Games Corporation (NASDAQ: SGMS) to
unconditionally support Scientific Games' proposed acquisition of
NYX (TSXV: NYX). Following the agreement all the parties have
withdrawn from all litigation in the US and UK.
In connection with the proposed acquisition Scientific Games has
agreed to acquire William Hill's ordinary shares and convertible
preference shares in NYX with William Hill receiving CAN$2.40 a
share for the 6.8 million ordinary shares it owns in NYX and circa
GBP87m for its convertible preference shares.
Commenting on the announcement William Hill CEO Philip Bowcock
said: "These agreements safeguard William Hill's technology roadmap
and relationship with NYX and end all legal action between the
parties. Additionally we are pleased to expand our commercial
relationship with Scientific Games in the US market which offers
considerable potential should the Supreme Court ruling on PASPA,
which is expected next year, provide states with the power to
regulate sports betting. We will unconditionally support Scientific
Games in their acquisition of NYX and we have no hesitation in
recommending other shareholders to do the same."
OAM: Agreement Statement regarding an agreement between
entities
William Hill LEI: 213800MDW41W5UZQIX82
Note to Editors:
Supreme Court and 1992 Professional and Amateur Sports
Protection Act ("PASPA")
The Supreme Court is set to rule next year on whether the 1992
Professional and Amateur Sports Protection Act ("PASPA")
impermissibly directed states to keep bans in place. The case was
called in by the Supreme Court and heard on December 4(th)
following attempts by New Jersey to regulate sports betting which
commenced in 2014.
If the Supreme Court were to declare PASPA unconstitutional in
their decision which is expected before June next year then
individual states would effectively have the power to regulate
sports betting in the future. A small number of states have
grandfathered rights because they had regulated sports betting to
varying degrees prior to PASPA. Nevada, where William Hill is the
market leader, remains the main sports betting market in the US
with only limited sports lotteries available in Delaware, Montana
and Oregon. The Supreme Court ruling is anticipated before June
2018.
For further information contact:
Media enquiries Ciaran O'Brien, William Hill +44 (0) 7976
180173
Andrew Porter / Oliver Hughes, Brunswick +44 (0) 20 7404 5959
Investor / analyst enquiries Lyndsay Wright +44 (0) 20 8918
3614
About William Hill PLC
William Hill, The Home of Betting, is one of the world's leading
betting and gaming companies, employing around 16,000 people.
Founded in 1934, it is the one of the UK's largest bookmakers with
around 2,350 licensed betting offices that provide betting
opportunities on a wide range of sporting and non-sporting events,
gaming on machines and numbers-based products including lotteries.
The Group's Online business (www.williamhill.com) is one of the
world's leading online betting and gaming businesses, providing
customers with the opportunity to access William Hill's products
online, through their smartphone or tablet, by telephone and by
text services. William Hill US was established in June 2012 and
provides land-based and mobile sports betting services in Nevada,
and is the exclusive risk manager for the State of Delaware's
sports lottery. William Hill Australia is one of the largest online
betting businesses in Australia after the Group acquired
Sportingbet and tomwaterhouse.com in 2013. It offers sports betting
products online, by telephone and via mobile devices. William Hill
PLC is listed on the London Stock Exchange. The Group generates
revenues of cGBP1.6bn a year.
This information is provided by RNS
The company news service from the London Stock Exchange
END
AGROKODPABDKKBK
(END) Dow Jones Newswires
December 07, 2017 02:01 ET (07:01 GMT)
William Hill (LSE:WMH)
Historical Stock Chart
From Apr 2024 to May 2024
William Hill (LSE:WMH)
Historical Stock Chart
From May 2023 to May 2024