13 Nov 2018 07:00
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION
This announcement contains inside information
For immediate release | 13 November 2018 |
SPORTECH PLC
('Sportech' or the 'Group')
Directorate Changes
Sportech PLC (LSE: SPO), the international betting technology business, announces that Andrew Gaughan, the Group's CEO, has informed the Board of his intention to step down as a Director. He will leave the Group on 28 February 2019, after an orderly handover period, to pursue other interests.
Richard McGuire, Non-Executive Chairman, will become Interim Executive Chairman with immediate effect. Richard has been with the Group since 2016 and is well known amongst Sportech staff and its stakeholders. Richard will relocate to the Group's US base in Connecticut, a key state in the newly liberalised US sports betting market.
The Group will commence a process for the identification and appointment of a new CEO. It is also progressing the appointment of an independent Non-Executive Director. Further updates will be made in due course.
Richard McGuire, said: "The Board thanks Andrew for his significant contribution to the Group, and for leading Sportech as CEO over the past year. I will be working closely with Andrew in the coming months, and as of the end of February we wish him well for the future."
Andrew Gaughan commented: "I have enjoyed my time at Sportech over the past eight years, and I leave the Group in a position of strength with an established core global betting technology business and well placed to take advantage of the opportunities that the US sports betting market presents. I wish Sportech every success in the future."
The Group confirms that trading in the current year remains in line with the trading update announced on 7 November 2018.
Publication on website
A copy of this announcement is also available on the Group's website at www.sportechplc.com.
- Ends -
Contacts:
Sportech PLC | Tel: +44 (0) 20 7268 2400 |
Richard McGuire, Executive Chairman | |
Giles Vardey, Non-Executive Director | |
Peel Hunt | Tel: +44 (0) 20 7418 8900 |
(Corporate Broker to Sportech) Dan Webster / George Sellar | |
Buchanan | Tel: +44 (0) 20 7466 5000 |
(Financial PR adviser to Sportech) Henry Harrison-Topham / Mark Court / Jamie Hooper | sportech@buchanan.uk.com |
Notes to Editors
About Sportech
Sportech PLC, the international betting technology business, provides and operates betting technology solutions for some of the world's best-known gaming companies, sports teams, and horse and greyhound racetracks, as well as owning and operating its own gaming venues in Connecticut under exclusive licences.
The Group focuses on highly regulated markets worldwide. It has more than 27,000 betting terminals deployed to over 400 clients in 37 countries. Its global systems process nearly US$12 billion in betting handle annually. In the US, it operates under 35 licences across 37 states. The Group has invested over US$60 million in the last five years in the successful expansion of its US gaming Venues and in developing its technology services, resulting in its proprietary Quantum™ System being the most widely deployed pari-mutuel betting system globally.