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Sportech Q1-2016 Trading Update

Tuesday May 17,2016 : SPORTECH RELEASES TRADING UPDATE
 
Positive Q1 results posted.
 
Pool betting specialists Sportech plc has issued a trading update for the period from 1 January 2016 to 16 May 2016, reporting:
 
* Positive start to 2016 for the group, with trading in line with management expectations, having made significant operational improvements and achieved a number of new customer wins:
 
* Success in VAT litigation against Her Majesty's Revenue and Customs
 
* Sportech Racing and Digital opened new offices in Singapore and secured new business. The company has also secured a new contract to deliver a full suite of wagering systems for the Macau Jockey Club, in addition to the recently announced new system sales in Malaysia and Vietnam, whilst a large terminal order has been shipped to Tabcorp in Australia;
 
* Technology and wagering installed for two new North American customers, Lone Star Park and Remington Park, and Sportech technology now available across racetracks in the UK to process all Tote wagering;
 
* Bump 50:50 continued to progress, growing its market share in the evolving area of providing technology for in-stadia electronic lotteries. Bump has added 7 new customers to its roster including the Jacksonville Jaguars (NFL), Dallas Stars (NHL) and San Diego Padres (MLB). Bump 50:50 remains on target to deliver profits in 2016 for the first time;
 
* Sportech Venues achieved progress in several areas. Of particular note, Internet wagering on MyWinners.com is up 17 percent compared to the same period last year, and the company has seen significant improvements in food, beverage and wagering revenues at our flagship venue in Bradley, Connecticut.
 
* The company will soon commence the construction in Stamford, which will be the first sports bar, restaurant and wagering facility in that major city, close to the New York border.
 
* The company's first venue in California opened in San Diego in January and is currently experiencing an upturn in food, beverage and wagering revenues after a slow but steady start in establishing the new concept.
 
* The wagering business in the Netherlands has experienced growth for the first time in a number of years, with handle up 10 percent on the same period last year.

* Football Pools performed to expectations, with a modernisation initiative on-track and due for completion shortly. The company launched The Football Pools app in March;
 
* Board changes are afoot, with non-executive director Peter Williams departing.

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Gambling News :

Pokerstars Now Lead Sponsor of Global Poker League - Alex Dreyfuss Global Poker League has received a significant boost from the announcement by Dreyfuss Mediarex Sports and Entertainment company Friday that online pokers biggest operator, Pokerstars, has signed on as lead and exclusive GPL sponsor.

Betconstruch invests in Ucrafts - BetConstruct may have also been attracted by the obvious interest in Ucrafts business - the start-up has already gained 5,000 subscribers in just a few months of commercial activity.

Plus500 Founders Selling Off Shares - Alon Gonen and Gal Haber respectively sold 7.2 million shares, retaining a 10.4 percent interest in the company; and 2.6 million shares, retaining a smaller stake of just 3.6 percent.

Rush Golf Live Launches - Virtual sports provider Inspired Gaming has announced the launch of its latest product - Rush Golf Live - with Betfred the first operator to carry the game.

British Basketball League in Deal With Perform - The British Basketball League has agreed a six-year deal with Perform, a digital sports content and media group, for the distribution and sale of all global media-related rights.

Ashley Sandyford Sykes Sharing Slot Expertise - Sandyford-Sykes has experience in the development of over a hundred popular online slot titles and led the Quickfire development team at Microgaming.

2016 WPT National Marrakech High Roller Results - Spanish poker pro Nabil Cordoso boosted his career earnings by a useful $66,873 this week when he was awarded the first prize in the PMU.fr WPT National Marrakech High Roller event in Marrakech.

GreenTube and Chopsticks In Partnership - Novomatic Interactive subsidiary Greentube has announced that it has signed a partnership deal with the Gibraltar-based mobile app developer Chopsticks In The Apps Ltd through which it will organize distribution of Chopsticks games through its online, mobile, social and land-based channels.

DraftKings Investigating Collusion Complaint - The stigma of cheating has surfaced again in the daily fantasy sports sector following allegations that two players colluded in a million dollar contest at DraftKings.

Singapore Gambling Exemptions Granted - The issue of certain state-linked commercial organisations being granted exemptions from Singapores tough anti-online gambling laws has been on the table for the past few months and has been the subject of opposition complaints; protest petitions and general argument.

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