Tag Archives: Sportech Plc

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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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’ …

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Sportech reaches multi-layered ten year Camarero agreement

Copyright: somchaij / 123RF Stock Photo

Sportech Racing and Digital has announced that it has entered into a fresh multifaceted agreement with the Puerto Rican Camarero Racetrack. The division of Sportech PLC, has undertaken a new ten year contract with its long term customer, related to totalisator services and web and mobile pari-mutuel betting platforms. Through the Sportech Quantum System, pari-mutuel betting software and local operational …

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Sportech to upgrade Parx Racing Pennsylvania mobile & web services

Pennsylvania based racetrack operators Keystone Turf Club and Bensalem Racing Association have appointed Sportech Racing & Digital to upgrade the web and mobile betting solutions for its Parx Racing venue. The agreement sees the Sportech Plc division, extend its totalisator services at Parx Racing, through its agreement with Bensalem and its syndicated off-track betting locations. Deal stakeholders inform, that Parx …

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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 …

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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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Solid start to 2017 sees Sportech expand corporate footprint in Asia & USA

The governance of London-listed racing technology and betting systems provider Sportech Plc has declared a solid start to 2017 (Q1: January – March) in-line with corporate expectations. Updating investors ahead of its annual AGM, Sportech discontinues accounting the performance of its Football Pools division having agreed to sell the asset to London private equity firm OpCapita for £83 million last …

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Sportech reports operational progress ahead of Court decision

Sportech PLC has revealed that its football pools business is performing to expectations, despite the uncertainty caused by the recent failed takeover bid by Burlywood Capital. In a trading update, Sportech said that The Football Pools continues to trade in line with management expectations, and is demonstrating the move to stability that we have been striving for in 2016. It …

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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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Technology upgrade sees Sportech positive on 2016 performance

Updating the market ahead of its annual general meeting (AGM), betting technology provider Sportech Plc has stated that 2016 trading is in-line with management expectations as the company has undertaken a number of operational improvements which have gained new customer wins. Sportech governance was pleased to detail that the UK Court of Appeal had ruled unanimously in favour of its …

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