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Sportech PLC released an upbeat trading update Friday

Friday, May 11, 2012 : SPORTECH TRADING UPDATE
 
e-Gaming a star performer
 
Pool and tote gaming company Sportech PLC released an upbeat trading update Friday.
 
Key indicators include:
 
-     Net bank debt in the four months to 30 April 2012 has decreased by GBP 4.2 million to GBP 55.0 million, following the GBP 13.0 million reduction in 2011.
 
-     Solid advances with predominantly North American-based gaming business Sportech Racing.
 
-     Retail betting venues and telephone betting business shows good progress reporting betting handle (turnover) up 4.5 percent on last year, which the company boasts is double the industry average.
 
-     Total betting turnover at the Kentucky Derby yielded $ 4 million - an all time high for the Connecticut operation and 11 percent up on the previous year.
 
-     The Tote Services arm of the company reports good progress made in Interactive Products and Services, with several contracts in the pipeline.
 
-     Football Pools division is performing in line with expectation and expansion continues with a retail distribution deal with Stan James.
 
-     eGaming business reports a gross win revenue up 30 percent year on year attributed in part to the migration of Littlewoods Casino and Poker business to the Playtech platform along with the launch of Vernons Casino and Poker towards the end of 2011.
 
-     The firm's bingo product will transfer to the Playtech platform later this year.
 
-     Date set for the Group's VAT claim to be heard at the First Tier Tax Tribunal in October 2012
 
Roger Withers, non-executive chairman of Sportech PLC, comments:  "Trading for the current financial year has started well and we are pleased to report that the Group is performing in line with the Board's expectations with operational progress being made in all areas of our business.
 
"The Group continues to prepare for the forthcoming anticipated regulatory change in the key international jurisdictions in which the Group trades and accordingly, we believe Sportech will be ideally positioned to benefit from the opportunities that these changes will deliver.  We look forward to the future with confidence."
 
In related news, Sportech announced the resignation with immediate effect of its executive director responsible for business development, Brooks Pierce, who is leaving to pursue other business interests.
 
The company's North American business announced the promotion of Dave Haslett to Managing Director of Sportech Racing (Worldwide), Ted Taylor to Managing Director of Sportech Venues and Andrew Gaughan to Managing Director of Sportech Interactive Products and Services.  Gaughan will additionally take on the role of Business Development Director, North America.
 
Sportech has tasked executive search business Odgers Berndtson to find suitable candidates that will further strengthen the Sportech executive board in light of "the many opportunities available in North America".



Gambling News :

NHL Odds: Lightning go for Season Sweep Over Red Wings - The Tampa Bay Lightning (37-29-9) have been doing everything possible to make a fourth straight appearance in the Stanley Cup Playoffs. Without star centre Steven Stamkos, Nikita Kucherov (38 goals, 40 assists) and Victor Hedman (15 goals, 47 assists) have stepped up and will look to continue their strong play against the Wings. Game time is 7:30 PM ET on FS-D.

MPN Charity Poker Tournament at ICE 2017 - During what was a busy three-days for Microgaming at ICE Totally Gaming 2017, the MPN team enjoyed a charity poker tournament with Microgaming operators on Tuesday 7 February.

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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.

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