Less Ads, More Data, More Tools Register for FREE

Pin to quick picksSPO.L Regulatory News (SPO)

  • There is currently no data for SPO

AGM & Interim Management Statement

13 May 2010 07:00

RNS Number : 8227L
Sportech PLC
13 May 2010
 



 

Sportech PLC ("Sportech" or "the Group")

AGM and Interim Management Statement

 

At today's Annual General Meeting of Sportech PLC, the UK's leading football gaming business, Piers Pottinger, Non Executive Chairman, will make the following statement:

 

"Trading for the current financial year has started well and we are pleased to report that the Group continues to trade in line with the Board's expectations. Since the start of the financial year we have strengthened our balance sheet by successfully revising our banking facilities until 2013, completed a £29.2 million Capital Raising by way of a Firm Placing, a Placing and Open Offer, and announced the acquisition of Scientific Games Racing, the international pari-mutuel technology provider and venue management business division of Scientific Games Corporation, for up to $83 million.

 

This is a strategically significant acquisition that will enable the creation of multi-sport pool-based betting platforms and an integrated suite of e-gaming products, where regulatory markets allow, across SGR's existing main markets of Europe, North America and South America. As a result of the acquisition, Sportech will offer gaming and betting products and services in both football and horseracing - two of the world's most popular betting sports. The acquisition remains subject to certain international regulatory approvals, which the Group expects to have received by the end of June 2010. Following receipt of those approvals the Directors intend to elaborate on their plans for the business and publish a strategic update detailing the exciting and significant potential of the enlarged business.

 

In January, Sportech announced its entry into a joint venture with Playwin, a leading Indian lottery and gaming brand to launch a multi-platform sports gaming business in the Indian market. Our joint venture sports prediction and fantasy games offering, SportsHero.com, has launched this month and initial visitor and subscriber numbers, both online and mobile, are encouraging.

 

In advance of next month's football World Cup 2010 in South Africa, a range of new games have been launched reflecting our growing combined online and offline business approach to products, pools and marketing. Various versions of these new games will then be taken forward into the new football season 2010/11. We have also recently launched a new digital version of the classic favourite game "Spot the Ball", which, by combining the existing game played on paper by 34,000 customers with a new digital offering for the new season, will offer the highest online jackpots available on a weekly basis to attract a new generation of players to this classic game.

 

Having achieved our commercial turnaround strategy in 2010, we are now utilising our enhanced technological capabilities to offer an improved portfolio of products to consumers through a broader range of distribution channels than ever before. Sportech is realising its ambition of becoming a profit focused, leading international pari-mutuel gaming company. The Board looks forward to the future with confidence."

 

-ends-

 

For further details contact:

 

Ian Penrose, Chief Executive

Sportech PLC Tel: +44 (0)20 7268 2400

 

David Rydell / Emma Kent / Rosanne Perry

Pelham Bell Pottinger Tel: +44 (0) 20 7861 3232

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
MSCBRGDULGBBGGD
Date   Source Headline
19th Aug 20159:32 amRNSForm 8 (DD) - Contagious Gaming Inc.- AMENDMENT
19th Aug 20158:06 amRNSForm 8 (DD) - Contagious Gaming Inc.
18th Aug 20152:55 pmRNSForm 8.3 - Sportech plc
18th Aug 20152:24 pmRNSForm 8 (DD) - Contagious Gaming Inc.
18th Aug 201511:59 amRNSForm 8.5 (EPT/RI) - Sportech PLC
18th Aug 201511:29 amRNSForm 8.3 - Sportech PLC
17th Aug 20156:11 pmRNSForm 8.3 - Richard Griffiths - Sportech PLC
17th Aug 20152:58 pmRNSForm 8.3 - [Sportech plc]
17th Aug 20152:30 pmRNSForm 8.3 - Sportech Plc
17th Aug 20152:17 pmRNSForm 8.3 - [Sportech plc]
17th Aug 20151:59 pmRNSForm 8.3 - Sportech Plc - Replacement
17th Aug 20151:35 pmRNSForm 8 (DD) - Contagious Gaming Inc
17th Aug 201512:55 pmRNSForm 8.3 - Sportech plc
17th Aug 201512:16 pmBUSForm 8.3 - Sportech Plc
17th Aug 201512:07 pmRNSForm 8.3 - Sportech Plc
17th Aug 201511:59 amRNSForm 8.5 (EPT/RI) - Sportech PLC
17th Aug 201511:55 amBUSForm 8.3 - Sportech Plc
17th Aug 20159:52 amRNSForm 8.3 - Sportech PLC
14th Aug 20152:17 pmRNSStatement re. Press Speculation
23rd Jul 20157:00 amRNSNotice of Interim Results
26th Jun 201510:57 amRNSHolding(s) in Company
24th Jun 20151:45 pmRNSSportech complete first phase of Betfred delivery
16th Jun 20151:00 pmRNSPDMR Share Dealings
28th May 201512:00 pmRNSSportech Sells Stake in Sportech-NYX Gaming
12th May 201511:38 amRNSResult of Annual General Meeting
12th May 20157:00 amRNSAGM Trading Update
22nd Apr 20157:00 amRNSSportech negotiate CT contractual improvements
21st Apr 20157:00 amRNSSportech Subsidiary Awarded New Jersey Licence
10th Apr 20151:00 pmRNSAnnual Report and Accounts 2014 and Notice of AGM
2nd Apr 20158:20 amRNSHolding(s) in Company
26th Mar 20152:12 pmRNSHolding(s) in Company
20th Mar 20153:44 pmRNSHolding(s) in Company
19th Mar 201510:28 amRNSTotal Voting Rights
13th Mar 201511:58 amRNSBlocklisting Application
10th Mar 20159:00 amRNSLTIP Option Awards
4th Mar 20157:00 amRNSPreliminary Results
27th Feb 20157:00 amRNSSNG Interactive creates new online gaming platform
26th Feb 20153:38 pmRNSHolding(s) in Company
10th Feb 20158:32 amRNSHolding(s) in Company
4th Feb 20157:00 amRNSUpdate - VAT repayment claim
3rd Feb 20154:07 pmRNSHolding(s) in Company
29th Jan 20157:00 amRNSNotice of Results
13th Jan 20158:43 amRNSSportech Granted Right to Appeal
19th Dec 20142:37 pmRNSBlocklisting Application
10th Dec 201411:35 amRNSHolding(s) in Company
3rd Dec 20143:51 pmRNSHolding(s) in Company
28th Nov 201410:35 amRNSHolding(s) in Company
11th Nov 20147:00 amRNSTrading Update
7th Nov 201411:55 amRNSHolding(s) in Company
6th Nov 20141:09 pmRNSUpdate - VAT repayment claim

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.