Tuesday November 12,2013 : SPORTECH UPBEAT ON FUTURE PROSPECTS
U.S. business drives growth
Pools and tote betting service provider Sportech plc reports good progress against its strategic objectives in its latest interim management statement for the period August 22 to November 11, 2013.
Highlights of the period include the company's investment in its U.S. business with Connecticut's flagship sports bar and betting venue due to open in December, the acquisition of Data Tote strengthening its European Tote operations, a JV with Picklive for the launch of a new fantasy sports product for the U.S. market and the disposal of its loss-making eGaming divison Vernon's for GBP 3 million.
Sportech Racing's upgraded internet wagering platform is expected to go live in December followed by a full marketing campaign in January 2014. The platform is the only legal online betting platform in Connecticut.
The Football Pools division is performing in line with expectations as the company looks forward to the fruits of a distribution agreement with France-Pari enabling French residents to bet on Sportech's Football Pools.