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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.



Gambling News :

Betradar Launches US Sports Betting Solutions - With only a few weeks to go until the betting and gambling world descends on ICE in London, Betradar have today announced that they will be launching a comprehensive range of tools and services to any company that will be looking to provide sports betting in a post-PASPA United States.

Abdelaouhab Zizi Wins MPNPT Morocco Main Event - Abdelaouhab Zizi has defeated fellow Casablanca resident Fadhil Farag heads up to win the 2018 MPN Poker Tour Morocco Main Event and MAD 375,000 (c. €33,220) after a two-way deal.

Final 12 For MPNPT Morocco - Sunday on the MPN Poker Tour Morocco will see several trophies awarded at the Mazagan Beach Resort, with the largest going to the Main Event champion along with a prize of MAD 400,000 (c.€35,400).

MPNPT Morocco Updates - Leading the 104 combined survivors from both flights is still Said El-Yousfi with 272,000 chips; visit the MPN Poker Tour blog for an end-of-day recap and full chip counts.

MPN Poker Tour Morocco Day 1A - The MPN Poker Tour has returned to Morocco this week (January 11-14), featuring the MAD 1.5 million guaranteed Main Event, accompanying side events, and the activities and parties for which this tour has now become known on two continents.

2018 MPN Poker Classic - The MPN announces the return of The Classic tournament series this January. The series is back following its successful €350,000 guaranteed debut in 2017. This time €500,000 is guaranteed, along with a once in a lifetime trip to Monaco for the Classic Champion.

PDC and Sportradar Renew Deal - Following this month’s hugely successful World Championship, the Professional Darts Corporation (PDC) and long-standing partners Sportradar have renewed their multi-faceted cooperation that will see the leader in sports data and content continuing in their role as official data

Poker Yaar Joins MPN - Available through download, instant play and mobile, Pokeryaar.com is live with Omaha, Hold’em and Five-Card poker variants, alongside MPN’s Fish Party, the industry’s only progressive jackpot SNGs.

New MPN Poker Rooms Tower Torneos - Impressed with Microgaming, having already integrated with the Quickfire platform to gain access to some of the industry’s best gaming content, Tower Torneos has extended the relationship with poker.<

NY Rangers vs. Devils on 12/21 - When the Devils and Rangers hit the ice on Thursday (7 PM ET on MSG), so too will two of the league’s top netminders. After a slow start to the season, Henrik Lundqvist has returned to his form of old. Through 29 games, he’s posted a 2.59 goals against average, and a .920 save percentage.

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