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SPORTECH PUBLISHES 2015 RESULTS

Thursday, March 3, 2016 : SPORTECH PUBLISHES 2015 RESULTS
 
Final results chime with corporate predictions.
 
Sportech plc has released its 2015 numbers, revealing that in selling its New Jersey online gambling interests after just three months it realised a threefold return on its original investment.
 
Group highlights flagged by management include:
 
* Overall results in line with expectations with EBITDA of GBP 23.1 million - down on 2014's GBP 24 million;
 
* Group revenue down 4 percent at GBP 100.2 million;
 
* Statutory loss lower at GBP 9.7 million (2014: GBP 20 million);
 
* On a constant currency basis, revenue declined by 6 percent and EBITDA declined by 5 percent;
 
* Net debt reduced by 10 percent to GBP57.7 million;
 
* A pipeline of new international customers attracted by the company's investments in technology;
 
* Expansion into providing lottery products for professional sports teams;
 
* Football Pools division nearing completion of modernisation programme;
 
* Expansion of venues strategy into California
 
* Disposal of online interests in New Jersey for a pre-tax gain of GBP 8.1 million;
 
* GBP 97 million VAT refund appeal to be held in Court of Appeal on 7/8 April this year.
 
Ian Penrose, CEO, said:
 
"Overall, the Board is pleased with the strategic position that each of its divisions has secured, but recognises that each division will also require further investment, ahead of anticipated revenue and profit benefits, to better enable them to deliver their full potential.
 
"We have invested substantial time into developing our activities and licensing position in the US. During the year, we sold our iGaming interest in New Jersey, realising a threefold return on our investment after only three months of operation.
 
"We continue to evaluate opportunities to deliver the full potential of our divisions whilst ensuring we maintain prudent financial ratios. In this regard, over the past twelve months we have considered approaches for the Group as well as for The Football Pools.
 
"Despite this, we have remained focused on our operations and we will continue to investigate any proposals that recognise the value of the inherent potential of these businesses."

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Gambling News :

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.

Secret Symbol Slot - RTG will soon release 'Secret Symbol', a 5 Reel Video Slot on 3/15/2017.

Microgaming is set to release three exciting new games in March - Pollen Party will literally have players buzzing with excitement as the ground-breaking, 720 way variable reel online slot is brought to life in a unique honeycomb reel layout.

NBA Odds: Resurgent Clippers Face Warriors in Oakland - After a much-needed lineup shuffle, the Los Angeles Clippers (29-27 SU, 35-21 ATS) carry a four-game SU and ATS winning streak into Thursday’s game against the best team in the NBA, the Golden State Warriors (47-9 SU, 27-27-2 ATS). Tip-off is at 10:30 PM ET on TNT.

NBA Odds: New-Look Pelicans Host Rockets on Thursday - The New Orleans Pelicans just hosted the All-Star Game and saw their very own Anthony Davis win the MVP. But the celebration was brief because the next day, the Pelicans made a huge trade,

PokerStars.CZ has launched in the Czech Republic - PokerStars.CZ has launched in the Czech Republic, becoming the first licensed online casino and poker operator under the Czech Republic’s new gaming regulation. This follows on from the approval by the Czech State Supervision of Gambling and Lotteries Department.

Luckia Games in Partnership with NYX Gaming Group - NYX will provide Luckia with its open gaming system, NYX OGS, and open platform system, NYX OPS, to support the growth of its established Spanish operation.

Sunbets to Sponsor Sutton United - Online betting operator Sun Bets has inked a one-off sponsorship deal with English association football club Sutton United for its upcoming televised clash against Arsenal FC in the FA Cup fifth round tie.

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