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Sportech has announced plans to enter the US horseracing sector

British online gambling group following Betfair into the American horserace sector
The British gambling group Sportech plc has announced ambitious plans to enter the US horseracing sector, having just achieved the approval of Connecticut and Maine regulators to acquire Scientific Games Racing (SGR), a subsidiary of Scientific Games Corporation (SGC).  The reported purchase price agreed is $ 83 million.
Notifying the London stock exchange of the agreement, the gambling group said it had agreed with Scientific Games Corporation to complete the deal by October 22 this year, and that the only remaining obstacle to completion was the approval of the New Jersey Racing Commission, which is expected to give the agreement its blessing around end September.
Acquiring SGC will substantially boost Sportech's pari-mutuel capacity, opening up new audiences in North, South and Central America as well as other international markets.
The deal, which has been under negotiation since early this year, involves Scientific Games acquiring a 19.9 percent holding in Sportech. Also involved (as a 12.5 percent partner in Sportech) is online gambling software developer Playtech, which invested GBP 10 million in the company earlier this year.
Online wagering on horseracing in the USA is permitted through exemptions for the sport in anti-internet gambling laws.

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Gambling News :

Wanajump Launches - #Wanajump Spanish online and land gambling operator Grupo R. Franco appears to be emulating the William Hill group, announcing this week that it is to begin a start-up accelerator program for innovative entrepreneurs, which it has titled Wanajump.

Coral Launches player proposition betting product - Digital Sports Tech, a business-to-business software provider of sports betting solutions, has signed a deal with UK online and land sports betting operator Coral to provide an innovative player proposition betting product.

Oshi online casino now accepts fiat currencies - The Oshi online casino, which started just a year ago as a Bitcoin-denominated operation, has described its expanded activity in a statement this week, noting that in addition to Bitcoin it now accepts fiat currencies and has added new game providers to its roster of suppliers.

New Standards for UK Online Gambling - Online gambling service and technology providers, along with operators and testing agencies will be studying the new gambling software and technical standards proposal published by the UK Gambling Commission following a public consultation.

Pennsylvania Gambling Bill 1887 returned with additions - The interaction between the Pennsylvanian House and the state Senate has become increasingly like watching a game of ping pong as the two political establishments wrestle with online gambling legalization and court-ordered tax fixes in the dying days of the current political season.

UKs Advertising Standards Authority vs Ladbrokes - A Ladbrokes Casino email promo has fallen foul of the UKs Advertising Standards Authority who deemed significant terms and conditions concerning bonusing to be unclear or misleading.

Mybet Earnings Struggle - The statement this week reveals that Mybet continued to be hampered by negative trends from historic quarters, making its original performance estimate "unrealistic".

Tom Horn Awarded Malta Gaming License - Online gambling software provider Tom Horn Gaming has been awarded a Malta Gaming Authority license that permits the company to host and manage Malta-based gaming operators.

Calvin Ayre invests in new Antigua Business Center - Ayre joined with government officials this week in a ground-breaking ceremony for a five-story centre on Antigua which will be home for the venture. The "green" building will be solar powered and provide employee-friendly services like catering, a gym and child care.

Attack of the Zombies Slot - Online gambling games developer Genesis Gaming has unveiled its latest game, with a theme based on a horror story of the undead, exploiting the current trend....and just in time for Halloween.

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