Tag Archives: sportech

Sportech appoints Thomas Hearne as CFO furthering US ambitions

SBC News 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

SBC News 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

SBC News 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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Tough week sees Sportech call off corporate sale

SBC News 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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Finance Guru Giles Vardey joins Sportech governance advisory

SBC News 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

SBC News 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

SBC News 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

SBC News 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

SBC News 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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