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Sportech More players, plans for a major acquisition
11/28/09 - The British gambling group Sportech released a management statement as the week ended, reporting a positive six months of business and predicting that it will show a full-year improvement on its 2008 numbers.
Despite the depressed economic conditions, the company managed to make good progress in overseas markets and claims it is currently negotiating an unidentified major acquisition that has considerable long-term potential.
The integration of the Vernons pools business was almost complete, the statement informed, with that company's traditional direct-to-home customer market, now accounting for more than 70 percent of the weekly Classic Pools customer base. Gross win for the year on its core Classic Pools products is at similar levels to last year while customer attrition levels in the collector channel are running at their lowest levels since 1994.
Management notes that the firm has registered its best ever performance in terms of new online customer acquisitions, with current active numbers since the start of the football season more than 40 percent ahead of the same period in 2008, thanks largely to its FootballPools.com platform, which it believes is an important element of its turnaround strategy.
“While general economic conditions remain challenging for Sportech and the gambling sector as a whole, improvements continue to be made in all of the key long-term areas of operations and business development,” Management reported.
“The group has continued to enhance its range of products, secured additional distribution and significantly enhanced its technological capabilities
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