Sportech – tote pool and sports betting operator announced in an interim management statement, that the company had undergone ‘substantial strategic progress’ during the third quarter of 2013, allowing the company to place itself for future growth opportunities..
Sportechs racing operations posted a betting revenue of $160 million (€118.5 million) for the period ending September 31. The company had witnessed a 10% rise in betting turnover, Sportech attributed this positive increase to new traffic/customers created by the Breeders’ Cup horseracing
Sportech has also began to see a positive impact with new partnerships iin 2013. Strategic partnerships have been mad with online racing betting service Data Tote, to improve racing operations and live odds. Furthermore the operator has also struck its first partnership in the popular US fantasy sports market with fantasy sports specialist Picklive US.
Further good news for Sportech saw the company announce that its football pool operation was on target to meet its 2013 expectations,following an agreement with France-Pari and approval from French regulator Arjel for French citizens to access its Football Pool.
Sportech management also announced that the operator had undertaken moves to sell losing business ventures, from their operations. Last month saw the sale of UK casino and bingo operator Vernons to iinteractive gaming company NetPlay TV. Sportech stated that the Vernons gaming brand would continue to be loss making under it management, and that it felt that it could no longer compete in the digital UK bingo and casino sector.
The interim report concluded with the following statement “The Group continues to perform operationally in line with expectations and has made substantial strategic progress during the period,The Group is well positioned to capitalise on future growth opportunities across its key markets.”