Tag Archives: Sportech Plc

Sportech Plc has announced that Giles Vardey has decided to end his tenure as Non-Executive Chairman of the London AIM-listed wagering and racing systems supplier.  Last week, Vardey notified Sportech’s board of directors that he would not seek re-election as chairman of the company, a position that he had served since July 2019. Former Sportech Chief Executive Richard McGuire (2019-to-2021) …

Sportech Plc has revealed its intentions to launch a tender offer, which has proposed an ‘up to £35.5 million payout’ to existing company shareholders. The tender offer has been sanctioned by Sportech’s senior leadership, with the wagering systems provider aiming to recapture 47% of its issued share capital – reported to be 88.8 million ordinary shares. Sportech has offered its …

Sportech Plc has delivered better than anticipated 2020 financial performance, offsetting the COVID-19 headwinds severely impacting global horseracing events and fixtures.  Publishing its full-year 2020 results, the LSE-listed wagering and racing systems provider saw its group revenues fall to £20 million, down 41% on corresponding FY2019 results of £34 million. “COVID-19 severely impacted the business resulting in a 28% decline …

The board of Sportech Plc has stated confidence that the LSE firm will deliver its full-year 2020 EBITDA results in line with corporate expectations. Issuing a pre-close 2020 trading statement, Sportech noted that despite enduring COVID-19 headwinds the company maintained its operational efficiencies across its core business verticals. Meeting unprecedented headwinds, Sportech focused 2020 trading on capital preservation and strengthening …

The Board of Sportech Plc has confirmed that talks with US investment firm Standard General have been terminated. This announcement follows Standard General’s revelation this morning that it did not intend to make an offer for the firm. Wagering and racing systems provider Sportech Plc revealed at the start of December that it had entered into a conditional agreement to …

A focus on international expansion and how we, as the betting and gaming industry, will get through COVID-19 are the key themes throughout Issue 8 of SBC Magazine. Now available to view HERE, it starts by tracking the journey of Giovanni Garrisi from a mathematician beating the pools to starting a 50/50 JV with Stanley Leisure, seizing an opportunity to …

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 …