Tag Archives: Andrew Gaughan

Richard McGuire – ‘Transforming Sportech’ confident on US prospects and progress  

Speaking at Sportech Plc’s annual general meeting (AGM), company Executive Chairman Richard McGuire has updated investors on the firm’s ongoing corporate transformation strategy seeking to deliver ‘longer-term profitability’. McGuire currently leads Sportech, following the departure of former Chief Executive Andrew Gaughan last November, as the LSE listed racing systems supplier detailed that it would miss 2018 corporate expectations due to …

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Sportech closes year of US realignment recording £2.4 million loss

London-listed racing and wagering systems supplier Sportech Plc has published its full-year 2018 results, detailing a year of corporate adjustments as the company continues to pursue its US growth prospects. Updating the market, Sportech records a 4% decline in corporate revenues to £64 million (FY2017: £66 million) having detailed last November that expected sales contracts did not materialise. Despite its …

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Sportech appoints ‘transformation pro’ Chris Rigg as governance advisor

LSE-listed racing and wagering systems provider Sportech Plc has confirmed the appointment of Christian ‘Chris’ Rigg as an Independent Non-Executive Director, advising corporate governance from 1 January 2019. A + 20-year corporate finance executive, Rigg is a former Barclays Bank executive, who has served as Chief Executive of Northern Recruitment Group and UK pharmaceuticals supplier Quantum. Sportech governance notes the …

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Andrew Gaughan confirms Sportech leadership departure

London listed wagering and racing systems supplier Sportech Plc has this morning disclosed that Group Chief Executive Andrew Gaughan has informed governance of his intention to depart the company. Updating the market, Sportech confirms that Gaughan will officially leave the company on 28 February 2019. Gaughan the former Managing Director of Sportech US racing operations, was appointed Group CEO on …

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Sportech revises 2018 earnings following ‘US strategic shrink’

Having undertaken a group restructure to focus its future operations on US long-term growth opportunities, London-listed wagering and racing systems supplier Sportech Plc has moved to adjust its full-year 2018 forecasts. Updating the market, Sportech governance anticipates that group full-year 2018 EBITDA will be between 5-10% lower than its previous market expectation of £8.5 million. Sportech governance details that corporate …

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Flat Sportech has full focus on US prospects

London-listed racing and wagering systems supplier Sportech Plc continues its group North American strategic alignment as the company reports a flat interim performance for H1 2018 trading (period ending 30 June). Year-to-date, Sportech records group revenues of £31.6 million, matching its corresponding H1 2017 performance, with period profits of £23million (H1 2017: £22.8 million). However, undertaking a number of corporate …

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Sportech strengthens US betting muscle with Sportradar

London-listed racing/betting systems provider Sportech Plc will bolster its US trading provisions, utilising Sportradar sports betting solutions and risk management services. Updating the market, Sportech governance confirms that it will utilise Sportradar’s comprehensive sports betting technology systems, to service its US enterprise post-PASPA’s federal repeal. The commercial agreement will see Sportech significantly expand its sports betting inventory, risk management resources …

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Sportech pushes forward on its ‘America First’ growth strategy

The governance of London-listed betting and racing systems provider, Sportech Plc, has detailed that it will prioritise expanding its US commercial pipeline and stateside projects as the firm’s principal objectives for 2018 trading. Updating investors at Sportech’s Annual General Meeting (AGM), Group Chief Executive Andrew Gaughan detailed 2018 corporate priorities. Having an established presence within 37 US states, Sportech governance …

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Sportech appoints Thomas Hearne as CFO furthering US ambitions

London-listed racing and betting systems provider Sportech Plc has ended its +6 month search for a new corporate financial leader, confirming the appointment of Thomas Hearne as new Group Chief Financial Officer (CFO). Hearne is expected to take official Sportech CFO duties on 14 May, and will be further appointed to the firm’s Board of Directors. Sportech governance had begun …

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Sportech expands US focus as governance aims to reverse 2017 declines

London-listed betting and racing systems provider Sportech Plc has detailed its corporate recovery plan, following a tough 2017 in which the company restructured its operations having undertaken strategic review and cost reduction programme.   Publishing its full-year 2017 results, Sportech governance declares corporate losses of £23 million, as company trading was impacted by a number of high-cost write-downs. In its …

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