SBC News Voice of the Sports Betting Industry
Canadian gambling investment firm Contagious Gaming has confirmed that it will not make a bid to acquire UK betting pools technology provider Sportech Plc.
Contagious Gaming issued a corporate statement alerting markets and the media of its decision to withdraw its interest in the Liverpool based operator. Sportech also issued an announcement declaring that it had not received a proposal which was capable of recommendation to its investors.
The Toronto TSX listed firm had declared its interest for Sportech assets in mid-August. Sportech governance informed Contagious Gaming that it would only consider a premium offer on its 62.63p closing share price to be put forward for assessment by its board.
Since Contagious Gaming declared its first interest in August, Sportech governance has granted the firm two PUSU (put up or shut up) deadline extensions sanctioned by the UK Panel of Takeovers & Mergers. During this time Contagious has successfully acquired betting technology firm Digitote.
Having failed to see a formal acquisition bid by Contagious Gaming, Sportech governance informed the public that it had recently received more than one preliminary offer for its Football Pools division.
The company said it will review the offers in due course.
