Tag Archives: sportech

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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Ian Penrose backs ‘sports disruptor’ DataPOWA as non-exec Chairman

Industry figurehead Ian Penrose the former Chief Executive of London-listed Sportech Plc has backed new AI technology platform DataPOWA, a company seeking to revolutionise sports marketing. Penrose has become the technology firm’s Non-Executive Chairman, advising the enterprise as it develops its ‘POWA index’, a technology which will deliver global sports its first ‘data-driven real-time sports sponsorship value engine’. A twenty-year …

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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 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 …

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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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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 …

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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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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 …

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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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