Online Gambling Tech Supplier NYX's Balancing Act

Published Wednesday, November 25, 2015 - Online-Casinos.com
Online Gambling Tech Supplier NYX's Balancing Act

There is a delicate balance for businesses in the online gambling industry to maintain a certain level of growth while not breaking the bank. Mergers and acquisitions are usually for the best when expanding  an entity. The long term and short term advantages of an acquisition are also seriously considered when looking for future growth. Online gambling operators are always looking to step up a notch or two when it comes to technology because new tech is making the industry easier to run and safer for the operator and customer.

The buying and selling of companies and divisions is what makes the online gambling industry interesting for investors watching the moves. An example is Amaya Gaming  which sold off Chartwell and Cryptologic software operations to the NYX Gaming Group for $150m recently. The supplier of  online gambling technology  NYX Gaming Group more than doubled its revenue in the third quarter of 2015 but its net loss rose significantly because in part to acquisition expenses and the slow progress of its Ongame online poker network. NYX Gaming Group hoped to turn around the suffering Ongame network but has not done quite enough to stop the red ink. NYX’s other recent acquisitions include Amaya’s, Belgrade-based technology firm eGaming Consulting and a buyout of its former joint venture partner in SNG Interactive.

 NYX Gaming Group has offices in Las Vegas, Stockholm and Sydney, supported by a London commercial office and has signed up a number of new clients in recent months. Content from NYX is expected to appear on Paddy Power’s online gambling web sites in 2016. The company will provide a variety of online and mobile casino content for the casino and bingo sites of UK-listed operator 888 Holdings.  

 NYX Gaming Group CEO Matt Davey boasted,  “another record breaking quarter” in which NYX took “an important step in our multi-year plan to gain scale and relevance as a diversified high growth content and technology supplier.”

 

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