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, and has secured approval for a second outlet in San Diego, expected to open by the end of October. However, while the Interim Management Statement shows that the group refinanced and extended its bank debt on improved lender terms for another four years, severe weather across the East Coast of the United States had a negative impact on business and hampered growth. The 2014 AGM is currently taking place in London.

“The severe snow storms and extreme cold across the East Coast of the US resulted in the closure of our retail venues on several days this year. In the first four months of the year, there were 237 race cancellations compared to 74 in 2013 and 27 in 2012 with a consequential impact on business performance. Operating margins have also come under pressure with increased content costs being charged by certain racetracks. One of the highlights of the US racing calendar, the Kentucky Derby, was run on 3 May and betting turnover across the business was $4.0m, in line with our record total established in 2013,” states the report.

Sportech’s operational highlights include the launch of MyWinners.com, a mobile wager service, and Connecticut’s only legal online gambling platform, while Classic Pools recruitment continues to excel, with 7000 new players, compared to 3500 last year. The corporation, which also provides betting technology for football, horseracing and greyhound tracks, and has operational offices in Liverpool, Bristol, Atlanta, New Jersey, Netherlands, Germany and Ireland, said it anticipates that the Connecticut Attorney General will target unregulated online operators in the near future. Having been subject to a £95m VAT repayment claim challenge, the company added that it expects a decision before the end of summer, and remains optimistic that the Upper Tribunal will find in their favour.