Dickinson Wright, Canada’s leading full-service business law firm specializing in cross-border counsel, is pleased to announce that it acted as legal counsel to Sportech plc (London Stock Exchange), a leading international sports gaming and entertainment company, in the divestiture of its 50 percent interest in Sportech-NYX Gaming, LLC to its joint venture partner, NYX Social Gaming LLC, a wholly owned subsidiary of NYX Gaming Group Limited (Toronto Stock Exchange), an online gaming content and technology provider.
Following completion of the transaction, Sportech will hold approximately 6 percent of the share capital of NYX Gaming Group Limited. The transaction will enable Sportech to accelerate near term development plans while retaining a material interest in online gaming assets through its equity stake in NYX.
The Dickinson Wright team was led by Michael Lipton and Andrae Marrocco and included Carol Chorich and Kevin Weber. Dickinson Wright provided advice on corporate and securities matters and advised on negotiating and documenting the divestiture transaction. Dickinson Wright is a leading advisor to national and international gaming companies providing advice on a full service basis including with respect to regulatory matters, commercial arrangements, and mergers and acquisitions.