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Mixed earnings results for Sportech

Wednesday March 4,2015 : SPORTECH DELIVER MEDIOCRE RESULTS

Beats internal expectations says CEO

Sports betting and pools operator Sportech, presenting its preliminary results for the twelve months ending December 31, 2014, said its focus on highly regulated markets had resulted in a strong performance from its Sportech Racing and Digital division and a satisfactory performance from its Football Pools product, however, its Sportech Venues business environment remained challenging.

Key performance indicators include:

Sportech Racing and Digital delivered an EBITDA of GBP 8.1 million (2013: GBP 7.3 million) driven by improved margins
Sportech Venues : an EBITDA of GBP 3.2 million (2013: GBP 4.5 million).
Football Pools: an EBITDA of GBP 16.6 million (2013: GBP 17.4 million)

Ian Penrose, Chief Executive of Sportech PLC, commenting on the results, said:  "Investment in our core technology and people has delivered a strong performance in our US-based betting technology business and The Football Pools has had a good year. Our Venues division had a challenging year, but continues to lay foundations for long term growth.”

Looking ahead, Penrose said regulatory approvals for new venues and the launch of Connecticut’s only legal betting website set a positive outlook along with the group’s entrance into iGaming and sports markets in the US with Resorts Casino Hotel.

Sportech entered the in-stadia sports raffle market for professional sports teams in the NFL, NHL, NBA and MLB with the acquisition of Bump Worldwide Inc. in June 2014, a Toronto-based provider of electronic charitable raffles conducted during professional sporting events known as '50/50 raffles.
 
“These are exciting times for the global gaming industry. Regulatory and tax changes are presenting opportunities for those focused on highly regulated markets. Sportech continues to make progress in line with our strategy of developing a leading international position, with a particular focus on the US,” Penrose concluded.



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US$30M DUBAI WORLD CUP - Racecourse Media Group and Meydan to showcase world’s richest raceday to more than 150 territories The Dubai World Cup is the first horse race to be broadcast live on airlines and cruise lines

NHL Odds: Forsberg Faces Elliott in Nashville - The last time the Nashville Predators played against the Calgary Flames, Calgary had a 4-1 lead five minutes into the second period. Nashville responded with four back-to-back goals, including a hat trick from centreman Filip Forsberg. Both teams went into overtime with five goals, and Calgary defenseman Mark Giordano (12 goals, 22 assists) scored the winning goal.

Sit & Go 2.0 launched online exclusively at Americas Cardroom - Get ready to cheer like a champion before the first flop is even dealt. The much-anticipated Sit & Go 2.0 is now launched online exclusively at Americas Cardroom and Sit & Go players are reaping the benefits of the next evolution of poker.

NBA Odds: Hawks, Wiz in Southeast Showdown - The Washington Wizards (42-27 SU, 36-32-1 ATS) can pretty much secure the Southeast Division title with a win Wednesday night over the Atlanta Hawks (37-32 SU, 31-38 ATS). Tip-off is at 8 PM ET on ESPN; the Wizards lead Atlanta by five games with less than a month remaining before the playoffs.

Mega Moolah progressive jackpot Hit Again - Microgaming’s Mega Moolah progressive jackpot slot has been hit yet again at just over €6.6 million!

NBA Odds: Clippers Try to Slow Down Bucks in LA - Milwaukee Bucks small forward Giannis Antetokounmpo and Los Angeles Clippers power forward Blake Griffin are two of the most talented and versatile forwards in the NBA. The two lead their teams into battle on Wednesday in Los Angeles.

NCAAB Odds: SMU Hosts Tulsa With AAC Title on the Line - There aren’t too many college basketball teams more profitable than the SMU Mustangs (25-4 SU, 18-5-1 ATS). They host the Tulsa Golden Hurricane (14-14 SU, 15-12 ATS) this Thursday night, tipping off at 8 PM ET on CBSSN.

NHL Odds: Canadiens Welcome Islanders Tonight - The Montreal Canadiens (32-20-8) welcome the New York Islanders (28-21-10) on Thursday (7:30 PM ET on SNE). After getting their first victory under new head coach Claude Julien, the Canadiens will look to build on that momentum against a red-hot Islanders team.

NHL Odds: Reeling Flyers Seek Relief in Pittsburgh - #nhl The Philadelphia Flyers have been a bit off since the holidays. They’ve won just eight games since the Christmas break, and now they’ve got a tough one coming up this Saturday night against the Pittsburgh Penguins.

Dollars to Donuts Slot Launch - Firstly, it's a classically styled, easy playing 3-reel with five pay lines featuring a traditional icon set of bars and sevens.

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