Tag Archives: sportech

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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Sportech partners with Illinois racecourse

Sportech Racing and Digital, a subsidiary of UK-listed gaming operator Sportech, has agreed a deal to supply Illinois’ Hawthorne Race Course with a range of online and land-based betting products. According to a report on industry news portal Gaming Intelligence, Sportech will provide Hawthorne with a totalisator and related services over a ten-year period, as well as a full suite …

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Sportech secures £9m Totepool contract

Sportech‘s Racing & Digital division has been selected by Betfred to provide a comprehensive suite of new betting technology products to its Totepool business. The ten year contract is expected to be worth over £9m in total revenues. Totepool currently holds the exclusive licence to operate all Tote betting on British horseracing. Under the agreement, Sportech will replace Betfred’s entire …

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Football Pools doubles new player recruitment

Tote betting service provider Sportech has refinanced its bank debt and doubled new player recruitment within Football Pools, the firm today revealed. The UK based sports gaming company processes over $13 billion (£7.7bn) in bets annually, and has a presence in 30 countries throughout mainland Europe and North America. It recently opened a sports bar and betting venue in Connecticut, …

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Igaming searching for a contender

SBC’s Ted Menmuir looks at the state of the igaming supply chain and notices one name running through it like a stick of rock. In April Ladbrokes announced that it was on course to fulfil its migration to Playtech’s igaming services. The all-encompassing deal struck with the igaming software provider will see Ladbrokes drop its Microgaming inventory, as the sector …

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Lorne Weil steps down from Sportech board

Sportech PLC has announced that Lorne Weil has resigned from the operators board with immediate effect.  The announcement comes as the operator is set to undertake a corporate re-alignment of senior management responsibilities. Sportech confirmed that Weil, will remain in contact with the company in an advisory position, as the operator undertakes its re-alignment and looks for his replacement. Weil, …

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Sportech and Rank Group to fight for VAT returns

Sports betting operators Sportech and Rank Group may be rewarded with UK tax returns concerning corporate claims for refunds on overpaid UK VAT. Both operators have applied for UK High Court hearings regarding tax rebates on overpayments made by the operator to the UK government. Further positive news for the operators saw the UK High Court ruled that refunds for …

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US business boosts Sportech

Sportech chief executive Ian Penrose said that the company remains ‘well positioned for future growth’ in the US market and that the company has entered 2014 with confidence. Penrose made the statement during Sportech’s preliminary results for the year in which revenue grew slightly to £110.3m, as did EBITDA to £26.0m, although adjusted profit before tax was slightly down to …

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Sportech Announce Strategic Progress in 2013

Sportech – tote pool and sports betting operator announced in an interim management statement, that the company had undergone ‘substantial strategic progress’ during the third quarter of 2013, allowing the company to place itself for future growth opportunities.. Sportechs racing operations posted a betting revenue of $160 million (€118.5 million) for the period ending September 31. The company had witnessed …

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