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Sportech has posted its interim management statement

Tuesday May 13,2014 :  SPORTECH ISSUES I.M.S.
 
Betting company is on track to meet expectations.
 
Sportech plc, a publicly listed UK online and land betting group, has posted its interim management statement for the period from 1 January 2014 to date.
 
Highlights of the statement include:
 
* Overall trading remains in line with expectations despite the severe winter weather in the North East of the United States impacting the Venues business. In the first four months of the year, there were 237 race cancellations compared to 74 in 2013 and 27 in 2012 with a consequential impact on business performance.
 
* Bank debt has been refinanced on improved terms and extended to August 2018. The new GBP 80 million multi-currency, revolving credit facility has been agreed with the Royal Bank of Scotland plc, Barclays Bank plc and Bank of Scotland plc.
 
* Continued advances in key strategic initiatives in the United States, including:
 
The launch of a new $4 million flagship sports bar, restaurant and betting venue in Bradley, Connecticut.
Approvals won for a sports bar, restaurant and betting venue in downtown San Diego, California.
"MyWinners" mobile betting application launched in Connecticut and available in the Apple App Store on iTunes.
 
* Football Pools modernisation continued with over 7,000 new players acquired since the beginning of 2014.
 
* Trading in Sportech's technology betting business, Sportech Racing and Digital, remains in line with expectations, helped by a robust performance from a Dominican Republic customer. During the period Sportech successfully completed the operational delivery of prior year system sales to Danske Spil and Penn National Gaming, and negotiations with new clients are continuing.
 
Management reports that the appeal case relating to a GBP 95 million VAT repayment claim on Sportech's "Spot the Ball" game was heard by the Upper Tribunal on 29 April, 30 April and 2 May 2014.  
 
The claim, which includes simple interest, was successfully determined in the group's favour by the First-tier Tax Tribunal in March 2013. The group has been advised to expect a decision from the Upper Tribunal by late summer this year and remains confident of a successful outcome.



Gambling News :

Live Dealer Now At Slotocash - Live Dealer can be found in the left navigation menu under 'Live Dealer' when you, the player is logged in to instant play.

Advantages of online slots over slot machines - The rise of online casinos means that players no longer have to leave their own house to play casino games.

Betradar Launches US Sports Betting Solutions - With only a few weeks to go until the betting and gambling world descends on ICE in London, Betradar have today announced that they will be launching a comprehensive range of tools and services to any company that will be looking to provide sports betting in a post-PASPA United States.

Abdelaouhab Zizi Wins MPNPT Morocco Main Event - Abdelaouhab Zizi has defeated fellow Casablanca resident Fadhil Farag heads up to win the 2018 MPN Poker Tour Morocco Main Event and MAD 375,000 (c. €33,220) after a two-way deal.

Final 12 For MPNPT Morocco - Sunday on the MPN Poker Tour Morocco will see several trophies awarded at the Mazagan Beach Resort, with the largest going to the Main Event champion along with a prize of MAD 400,000 (c.€35,400).

MPNPT Morocco Updates - Leading the 104 combined survivors from both flights is still Said El-Yousfi with 272,000 chips; visit the MPN Poker Tour blog for an end-of-day recap and full chip counts.

MPN Poker Tour Morocco Day 1A - The MPN Poker Tour has returned to Morocco this week (January 11-14), featuring the MAD 1.5 million guaranteed Main Event, accompanying side events, and the activities and parties for which this tour has now become known on two continents.

2018 MPN Poker Classic - The MPN announces the return of The Classic tournament series this January. The series is back following its successful €350,000 guaranteed debut in 2017. This time €500,000 is guaranteed, along with a once in a lifetime trip to Monaco for the Classic Champion.

PDC and Sportradar Renew Deal - Following this month’s hugely successful World Championship, the Professional Darts Corporation (PDC) and long-standing partners Sportradar have renewed their multi-faceted cooperation that will see the leader in sports data and content continuing in their role as official data

Poker Yaar Joins MPN - Available through download, instant play and mobile, Pokeryaar.com is live with Omaha, Hold’em and Five-Card poker variants, alongside MPN’s Fish Party, the industry’s only progressive jackpot SNGs.

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