Unidentified private investor puts up Cdn$10 million for a 25 percent stake in US subsidiary
NYX Gaming received an early Christmas present this week when an unidentified private investor ponied up Cdn$10 million for a 25 percent stake in the company's wholly-owned US operating subsidiary.
Matt Davey, CEO of NYX, said that although there are certain conditions attached to the investment, it is not convertible into ordinary shares.
"This capital investment will allow us greater flexibility in the execution of our growth strategy, without diluting our shareholders from our aggregate business," he said.
Directorate changes at NYX take effect on January 1 next year, with Staffan Lindgren departing, to be replaced by a gaming industry investor and adviser, Craig Billings, who until recently was head of digital at Aristocrat Technologies.
The company has also appointed James Mercur, an experienced stock broker and adviser with an impressive record at leading financial companies as an independent director – also from January 1.
Online Casino News Courtesy of Infopowa