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, …
Read More »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 …
Read More »
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, …
Read More »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 …
Read More »
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 …
Read More »
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 …
Read More »
SBC News Voice of the Sports Betting Industry