Tag Archives: sportech

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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Playtech to recruit Ian Penrose as governance advisor building ‘US Vision’

The Sunday Times has this weekend reported that Playtech Plc is set to recruit former Sportech Plc Chief Executive Ian Penrose as a non-Executive Director advising the FTSE250 technology group on its US market expansion strategy. Penrose is considered one of the leading industry figureheads on US sports betting, having led racing systems provider Sportech Plc’s North American corporate transformation …

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Sportradar and AmTote agree sports betting data deal

US bet-processing firm AmTote has landed a deal with sports data provider Sportradar, giving its customers the ability to offer fixed-odds sports betting. The deal between the two firms has emerged on the back of the repeal of PASPA, and will see Sportradar provide the Maryland-headquartered firm with sports betting data and “managed trading services”. Sportradar’s solution will allow The …

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Sportech strengthens US betting muscle with Sportradar

London-listed racing/betting systems provider Sportech Plc will bolster its US trading provisions, utilising Sportradar sports betting solutions and risk management services. Updating the market, Sportech governance confirms that it will utilise Sportradar’s comprehensive sports betting technology systems, to service its US enterprise post-PASPA’s federal repeal. The commercial agreement will see Sportech significantly expand its sports betting inventory, risk management resources …

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Sportech pushes forward on its ‘America First’ growth strategy

The governance of London-listed betting and racing systems provider, Sportech Plc, has detailed that it will prioritise expanding its US commercial pipeline and stateside projects as the firm’s principal objectives for 2018 trading. Updating investors at Sportech’s Annual General Meeting (AGM), Group Chief Executive Andrew Gaughan detailed 2018 corporate priorities. Having an established presence within 37 US states, Sportech governance …

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Sportech appoints Thomas Hearne as CFO furthering US ambitions

London-listed racing and betting systems provider Sportech Plc has ended its +6 month search for a new corporate financial leader, confirming the appointment of Thomas Hearne as new Group Chief Financial Officer (CFO). Hearne is expected to take official Sportech CFO duties on 14 May, and will be further appointed to the firm’s Board of Directors. Sportech governance had begun …

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Sportech expands US focus as governance aims to reverse 2017 declines

London-listed betting and racing systems provider Sportech Plc has detailed its corporate recovery plan, following a tough 2017 in which the company restructured its operations having undertaken strategic review and cost reduction programme.   Publishing its full-year 2017 results, Sportech governance declares corporate losses of £23 million, as company trading was impacted by a number of high-cost write-downs. In its …

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Sportech offloads Dutch asset Racing BV for €3.25 million

The governance of London listed betting and racing systems provider Sportech Plc has confirmed that it has agreed on terms to sell its Netherlands subsidiary Sportech Racing BV to private investor RBP Luxembourg (‘RBP’). Sportech will carry-out the sale of Racing BV for a total cash consideration of €3.25 million on a ‘debt-free basis’. Last June 2017, Racing BV obtained a …

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