Wednesday May 23, 2012 : SPORTECH TRADING UPDATE
Internet gaming gross win revenue up 30 percent Y-O-Y
Roger Withers, chairman of Pool and tote betting firm Sportech, announced steady progress in a trading update delivered at a shareholders meeting this week.
Reporting a strong start to the company's fiscal year in e-gaming, with gross win revenue up over 30 percent year-on-year, Sportech's North American business Sportech Racing has delivered a 4.5 percent increase in turnover to date compared to the same time last year.
Net bank debt in the four months to April 30 was cut by GBP 4.2 million to GBP 55 million, following a GBP 13 million reduction last year.
“The group remains highly cash generative and continues to focus on debt reduction while investing in selective business opportunities,” commented Withers.