Wednesday July 24,2013 : SPORTECH IN TECH DEAL WITH PENN NATIONAL GAMING
Strategic coup for UK-headquartered company
Pool and Tote gaming provider Sportech PLC's U.S. division, Sportech Racing LLC, has clinched a six-year deal with Penn National Gaming Incorporated (PNGI).
Under the terms of the deal, Sportech Racing will provide numerous PNGI-owned and/or operated properties across nine States covering 11 racetracks, five off-track wagering venues and an internet telephone account wagering service with betting technology and associated services.
PNGI is the largest owner and operator of racetrack and associated betting facilities in the United States, along with numerous casino and slot machine venues.
Sportech PLC's U.S. division says it handles around 50 percent of all horseracing bets and claims to have the largest operations in the United States of any UK gaming company.
The deal significantly strengthens Sportech's presence in the US market, strategically positioning the firm to take advantage of further deregulation across the country.
"We are delighted to have secured this long-term contract with Penn National Gaming, the largest racetrack and associated betting facility operator in the United States," said Ian Penrose, chief executive officer of Sportech. "This further strengthens our position in the United States, and builds upon the international momentum following sales to the UK Tote and a contract with Danske Spil, the State owned Danish gaming operator, earlier this year."
Andrew Gaughan, Managing Director of Sportech Racing, added: "We are very pleased to have been selected by Penn National Gaming to be the exclusive provider of pari-mutuel wagering services across their properties and for their growing family of racing operations. Sportech PLC's ongoing investment in our Racing and Interactive technologies and services will allow us to serve the current and future needs of Penn National Gaming, and to deliver industry-leading solutions that will allow them to remain on the leading edge of horse racing and wagering entertainment."
Christopher McErlean, Vice President, Racing at Penn National Gaming, said: "We sought to enter into a partnership with a company that would bring significant advantages to Penn National Gaming in the form of improvements to the customer betting experience, increased compatibility between our properties, and delivery of improved operational efficiencies. After a thorough competitive bidding process, we determined that Sportech Racing was that partner."
The deal provides for a one-year extension to the contract.