William Hill Backing NYX to Buy OpenBet

William Hill is greatly interested in preserving its place as the biggest bookmaker in the UK. When one makes their bread and butter off of an industry of chance, it is also increasingly likely that just such and industry will ultimately lead to opportunities as well as great risks. PlayTech is an industry involved in bookmaking that covers a number of key areas, the most valuable of these being online booking. The online booking phenomenon has made gambling incredibly easy, and allows one to be capable of truly destroying or making a booking company, and PlayTech holds the keys to the kingdom, providing the software that allows such companies to make transactions. This software is vital to the thriving online gambling industry and without it, bookies like William Hill are doomed to obscurity. Ease of use is king, but the market domination of PlayTech is becoming problematic.

OpenBet is the online gambling software in question. The software company is capable of providing the online bookies with a means to collect bets and raise their own revenue. The issue at hand is the asking price for buying out the company. $300 million is a remarkably large sum, no matter how you cut it. It is a number that is out of reach of most smaller companies, NYX Gaming is one of them. Their bid can’t come much closer than halfway, and without some substantial help, they will not be able to acquire OpenBet and improve their business standing within the online booking industry. This makes the contributions of the William Hill company all the more crucial. Without them, NYX is doomed to miss the mark, and in doing so lose a once in a lifetime opportunity that could very well cost the company millions of dollars and exponentially more in regards to longer term revenue. They need this transaction or their company is in serious trouble. The main problem would be the online giant PlayTech entering into the equation and purchasing OpenBet. This would further the domination of the company, and with this newfound power, OpenBet would most likely allow PlayTech to drive NYX completely out of business, at the very least crippling the company irreparably.

William Hill has its own interests to attend to. While the booking company relies upon the abilities of PlayTech in order to truly aid in the process as well as make sure things are moving as smoothly as possible. The reason they are backing NYX is to prevent PlayTech from completely taking over. Should this take place, PlayTech would undoubtedly raise the rates, forcing companies to pay much higher prices and take huge hits to their revenue, which would inevitably lead to paying cuts at the least and downsizing at the worst. William Hill would be completely dependent on PlayTech, and that is something they want to avoid at all costs. By backing NYX gaming, they are sowing the seeds for a very valuable business partnership as well as ensuring the market is not dominated by any one company.