(Alliance News) - Sportech PLC on Thursday said shareholders have approved the sale of its Global Tote business.
At the start of the month, the UK-based gambling technology firm unveiled the deal to sell its Global Tote business for GBP30.9 million to Australian odds comparison platform BetMakers Technology Group Ltd.
Global Tote provides technology solutions and services to gaming businesses, particularly in the horse racing industry.
Sportech said the sale was passed overwhelmingly at a general meeting held on Thursday and a non-refundable initial payment of GBP6.2 million, representing 20% of the total consideration due, is now payable by Betmakers. The rest is due upon completion of the disposal.
Shares in Sportech closed up 1.0% at 26.70 pence in London on Thursday.
By Lucy Heming; lucyheming@alliancenews.com
Copyright 2020 Alliance News Limited. All Rights Reserved.
