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NYX Gaming Group (CVE:NYX) has received an investment of $10-million from a private investor for a 25 percent interest in its U.S. operating subsidiary.
NYX Gaming Group (CVE:NYX) has received an investment of $10-million from a private investor for a 25 percent interest in its U.S. operating subsidiary.
According to the press release:
“This capital investment will allow us greater flexibility in the execution of our growth strategy, without diluting our shareholders from our aggregate business,” said CEO of NYX Matt Davey.
The investment is not convertible into ordinary shares and is subject to certain conditions including agreement on amended and restated governing documents and obtaining certain regulatory approvals. This investment immediately strengthens the Company’s balance sheet and adds to the Company’s momentum in the North American market.
In addition, the Company would like to announce several changes to its board of directors which remain subject to customary regulatory approvals. Mr. Staffan Lindgren is stepping down from his director’s position effective January 01, 2016. NYX wishes to thank Mr. Lindgren for his excellent contribution to the Company during his time on the board. Mr. Lindgren will be replaced by Mr. Craig Billings.
Mr. Billings is an independent advisor and investor to the gaming industry who brings a range of highly relevant skills and experience to the NYX Board of Directors. Until November 2015, Mr. Billings was Chief Digital Officer of Aristocrat Technologies (ASX:ALL). He has had a long and successful history in the gaming industry, having held senior roles at IGT (NYSE:IGT) and the Investment Banking Division of Goldman Sachs. Mr. Billings holds a Bachelors degree from the University of Nevada Las Vegas and a Masters of Business Administration from Columbia Business School.