LONDON (Alliance News) - Pool betting company Sportech PLC on Tuesday said it has made a positive start to 2016 and is trading in line with management expectations, having made some "significant" operational improvements and achieved a number of new customer wins.
By division, Sportech Racing and Digital has had an "encouraging" period to date, Sportech said, with new business being brought in by investments in technology while the office in Singapore has started to deliver results in a region which previously had few customers.
Sportech Venues has had a "solid" start to the year, with internet wagering on MyWinners.com up by 17% year-on-year and significant improvements in food, beverage and wagering revenues at the flagship venue in Bradley, Connecticut. The wagering business in the Netherlands also experienced growth for the first time in a number of years, Sportech said.
Meanwhile, the Football Pools division is performing in line with management expectations, with the "modernisation project" on schedule to be completed within the next six weeks. The project aims to shift the division away from a paper-based business to a technology-driven sports gaming business.
Sportech will release its first-half results to the end of June on August 24.
Shares in Sportech were trading up 0.4% at 73.80 pence on Tuesday morning.
By Karolina Kaminska; karolinakaminska@alliancenews.com @KarolinaAllNews
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