Tag Archives: Richard McGuire

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 …

Read More »

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 …

Read More »

Sportech completes acquisition of LOT.TO

London Stock Exchange (LSE) listed Sportech PLC has completed its outright acquisition of iLottery systems and games provider  LOT.TO. The acquisition is set to provide Sportech with a new digital gaming vertical for iLottery, as well as enhancing its internal capacities incorporating LOT.TO’s product proven technology development teams. It intends to cement the racing and wagering systems provider’s global gaming …

Read More »

Sportech broadens gaming capacities with LOT.TO strategic investment

LSE-listed wagering and racing systems provider Sportech Plc has entered a ‘strategic alliance‘ with London-based iLottery systems provider LOT.TO – seeking to ‘broaden its suite of gaming opportunities’. Sportech has moved to acquire LOT.TO’s enterprise outright on a share-for-share basis. The transaction sees LOT.TO continue to operate as a stand-alone outfit, with Sportech confirming that ‘the acquisition would be non-material …

Read More »

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 …

Read More »

Sportech confirms departure of Richard Cooper as Chair of Audit Committee

London-listed racing and wagering systems provider Sportech Plc has confirmed the resignation of Richard Cooper as a Non-Executive Director, effective from 31 October. Cooper, the former Group Director of Finance for FTSE gambling group GVC Holdings (2008-2016), had served Sportech Plc as a governance advisor since 2017. As a corporate advisor, Cooper further held the position of Sportech’s Chairman of …

Read More »

Tough week sees Sportech call off corporate sale

A grim week for London-listed betting and racing systems provider Sportech Plc has seen its share price halved, as corporate governance halts its planned enterprise sale. On Wednesday, Sportech published a corporate update, confirming that it had uncovered a ‘series of accounting irregularities for 2017 trading’. The unexpected event, sees Sportech governance anticipate 2017 corporate earnings to ‘fall below expectations’ …

Read More »

Finance Guru Giles Vardey joins Sportech governance advisory

Further to yesterday’s announcement of a shareholder £53 million capital redistribution, London-listed betting systems supplier Sportech Plc has confirmed the appointment of Giles Vardey as independent Non-Executive Director. A 35-year finance executive, Vardey will advise Sportech governance on stakeholder management as the company undertakes a full-scale sale if its business in 2018. In a distinguished career, Vardey has served as …

Read More »

Sportech approves £53 million capital redistribution for shareholders

Updating the market, London-listed betting systems provider Sportech Plc has confirmed that it has completed its ‘capital reduction plan’ attached to the sale of it’s the Football Pools division, completed in June 2017 for £83 million. In accordance with previous transaction objectives, Sportech governance has declared a 29p-per-share distribution for its shareholders, which will see the company complete a cash …

Read More »

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 …

Read More »