Sportech claims ‘good progress’ on strategic objectives in 2015

Sportech recently became one of the first European gaming companies to secure fully licensed status in New Jersey, before launching its online gaming activities in the US state in partnership with Resorts Casino Hotel and NYX Gaming.

Elsewhere, the operator has reported that its Football Pools division is currently in line with expectations with this level of stability expected to continue this year and into 2016.

Sportech also revealed it recently received an approach for its Football Pools business, but the offer was turned down as it did not match the company’s own valuation of the division.

Meanwhile, the Sportech Racing and Digital arm is also on track to deliver and complete the sale of tote betting systems for horse racing in the UK to Betfred.

Despite the division having also renewed contracts with a various customers in the period, it did see a 3% drop in wagering within the US thoroughbred racing industry during the four months through to the end of April.

Sportech Racing and Digital was also hit by the loss of two significant customers in the period, including Colorado Downs in Virginia that in April ceased all racing operations.

In addition, Sportech noted that its Venues business was hit by the severe winter freeze in the US, with some race days having been cancelled due to the adverse weather conditions.

Closures and the rebuilding of several key venues in the US had led to a year-on-year decline of 9% in overall betting volume.

In a statement, Sportech said: “Sportech's strategy is to build a leading position in the rapidly developing US and global betting industry.

“The group's extensive activities in international pool and tote betting services for horseracing and football provide a regulatory and legal footprint to support future growth across a wider range of gaming and entertainment opportunities, including iGaming, sports, fantasy sports, and slots.

“Good progress has been made on our strategic objectives and we continue to expect trading to be in line with expectations for the full year.”