Tag Archives: Connecticut

US ruling allows Martinez Sampedro family full disclosure on Codere investors

Connecticut’s District Court has granted the Martinez Sampedro family a major concession in its ongoing legal dispute against Grupo Codere SA’s US debt-holders, upholding the family’s ‘discovery demand’ against Silver Point, Contrarian and Abrahams Capital hedge funds. Securing its Connecticut demand, the Martinez Sampedro family – enterprise founders of Codere – will be able to access all information related to …

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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 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 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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Sportech confident of 2017 targets as company begins to hear suitors

Presenting its Q3 2017 trading update (period ending 30 September), London-listed betting systems provider, Sportech Plc has detailed a strong continued momentum for its operations and services, as the company prepares to review initial bids for its outright sale. Driven by the growth of its ‘Racing & Digital’ division and international venue assets, Sportech would record a Q3 2017 group …

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Rich Roberts resigns from Sportech PLC Board

Sportech has announced that Rich Roberts, President of Digital and US Corporate Affairs, has stepped down from the PLC Board. He had been a Member of the Board of Directors since December 2013. Roberts’ resignation comes after a reorganisation of responsibilities for Sportech in North America, following the company’s withdrawal from business obligations with Draft Day Daily Fantasy Sports. However, …

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US now Sportech’s most important market

Football Pools operator Sportech now derives over half its income from its horseracing interests in the US. In its interim results, Sportech revealed that it generates 64% of its revenues from US-based business interests. Revenue rose for the first six months of the year rose 1.7% to £52.6m on a constant currency basis, although EBITDA was slightly down to £12.0m. …

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