Tag Archives: sportech

Tough week sees Sportech call off corporate sale

A grim week for London-listed betting and racing systems provider Sportech Plc has seen its share price halved, as corporate governance halts its planned enterprise sale. On Wednesday, Sportech published a corporate update, confirming that it had uncovered a ‘series of accounting irregularities for 2017 trading’. The unexpected event, sees Sportech governance anticipate 2017 corporate earnings to ‘fall below expectations’ …

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David Williams joins up with British Racing Bet

Racing - Copyright: gabe123 / 123RF Stock Photo

British Racing Bet has a new Director of Communications, with it announced that David Williams is to join the firm. The entity has been founded by a vast majority of British racecourses, with the aim of delivering pool betting on British racing, it is also detailed the venture is to operate at in excess of 50 racecourses, upon its launch …

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Finance Guru Giles Vardey joins Sportech governance advisory

Further to yesterday’s announcement of a shareholder £53 million capital redistribution, London-listed betting systems supplier Sportech Plc has confirmed the appointment of Giles Vardey as independent Non-Executive Director. A 35-year finance executive, Vardey will advise Sportech governance on stakeholder management as the company undertakes a full-scale sale if its business in 2018. In a distinguished career, Vardey has served as …

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Sportech confident of 2017 targets as company begins to hear suitors

Presenting its Q3 2017 trading update (period ending 30 September), London-listed betting systems provider, Sportech Plc has detailed a strong continued momentum for its operations and services, as the company prepares to review initial bids for its outright sale. Driven by the growth of its ‘Racing & Digital’ division and international venue assets, Sportech would record a Q3 2017 group …

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Strategic governance review sees Sportech put up for sale

Issuing a governance statement, London-listed betting systems provider Sportech Plc has today announced that it is seeking a corporate sale of its entire enterprise. Its decision follows a comprehensive strategy review undertaken by Sportech governance with a view to maximising shareholder value. Launching its bidding process, Sportech informs that it has appointed London investment firm Canaccord Genuity as lead financial …

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Sportech looks forward following ‘transformational’ H1 2017

The governance of London-listed industry betting and racing systems provider Sportech Plc has described the first half of 2017 as a ’transformational period’ for its business. The company which continues to expand internationally, securing new betting systems contracts in Asia, Denmark and the USA (Connecticut) would report H1 2017 period corporate revenues of £36.4 million up 5% corresponding 2016’s £34.7 …

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DHV Denmark selects Sportech Racing & Digital as lead pari-mutuel systems lead

Danish racing track operator Dansk Hestevæddeløb APS (DHV) has selected Sportech Plc’s Racing & Digital division to be its lead supplier of pari-mutuel betting technologies, systems and services. At present, DHV operates nine racing tracks in Denmark, which betting services and systems have been primarily operated by state-owned gambling firm Danske Spil. Sportech Racing & Digital has acted as lead …

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Sportech – £83 million sale of The Football Pools to be completed this June

Updating investors, London-listed betting systems provider Sportech Plc has informed that it is on course to complete its sale of The Football Pools to London private equity firm OpCapita for £83 million. Sportech governance states that its will conclude the sale by the Football Pools by 8 June, with OpCapita special vehicle ‘FP Acquisitions Limited’ having been approved a betting …

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Sportech confirms departure of Roger Withers as Chairman

Updating the market this morning, London-listed racing technology and systems provider Sportech plc has confirmed that Roger Withers is set to retire as Chairman of the company and board on 24 May. A leisure and gambling expert who has held directorship positions at Playtech Plc and Arena Racing, Withers has led Sportech governance since 2011. Withers commented on his departure …

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Sportech executes £20 million share buyback scheme

The governance of London-listed racing technology and systems provider Sportech Plc has confirmed that it has accepted a £20.9 million buyback of shares issued under a ‘tender offer’. Issuing a corporate update to investors, Sportech governance detailed that it will seek to purchase approximately 20.6 million shares under the offer at a price of 101.5 pence each. Sportech detailed that …

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