5 Dec 2013 07:00
5 December 2013
Sportech enters into a joint venture with NYX
for online products and services in the US
Sportech PLC ("Sportech") is delighted to announce that it has signed a joint venture with NYX Gaming Group Limited ("NYX") to provide online products and services in the US for social and pay-to-play gaming.
As US online gaming regulation evolves, the joint venture will be able to offer a full suite of gaming products including bingo, casino, poker, slots and other games to potential licensees using the NYX platform. These include Sportech's racetrack and casino partners across the US.
Sportech and NYX will each hold a 50% interest in the joint venture company, and will equally share both the set-up costs, expected to be less than £250,000, and the profits. Sportech's interests on the Board will be served by Ian Hogg, Chief Operating Officer of Sportech's international consumer facing businesses, and Mark Gregory, Managing Director of Sportech's US digital business.
Ian Penrose, Chief Executive of Sportech PLC, said:
"This joint venture with NYX will extend our US product range into a full suite of online games as and when regulations permit. It complements our established US position as a trusted supplier of terminal and online betting systems for horseracing to racetracks and casinos.
It is important to us that NYX has an operational base in Las Vegas, enabling them to work closely with our Sportech Racing and Digital business, to maximise the US opportunities. We share common objectives, bring complementary skills and look forward to working together to build a successful i-Gaming business."
- ends -
For further information, please contact:
Sportech PLC 020 7268 2400
Ian Penrose, Chief Executive
Cliff Baty, Chief Finance Officer
Brunswick Group LLP 020 7404 5959
Mike Smith, Tom Williams sportech@brunswickgroup.com
Investec Bank plc 020 7597 5169
Patrick Robb, Corporate Broking
Editor's Notes
About Sportech PLC
Sportech PLC is a sports gaming and entertainment company and one of the world's leading pool betting organizations, focusing on highly regulated markets worldwide. Sportech provides betting technology for football (soccer), horseracing and greyhounds, processing over $13 billion in bets annually with a presence in 30 countries. Sportech is headquartered in London, England with operational offices in Liverpool, England, Atlanta, Connecticut, California, New Jersey, Netherlands, Germany and Ireland. For more information about Sportech PLC, please visit www.sportechplc.com.
About NYX Gaming Group Limited
NYX Gaming Group Limited is an award winning supplier of systems and content to the regulated international gaming industry. Founded in 1999, the Company employs over 120 staff with offices in Las Vegas, Stockholm and Sydney. With a focus on the Casino, Lottery and Bingo industries, NYX boasts a state of the art gaming platform and a portfolio of over 300 market leading games. An early pioneer in the independent delivery of gaming content, the Company now supplies technology and content to over 100 gaming operators in land based and online gaming markets around the world. For further information about NYX Gaming Group Limited, please visit www.nyxgaminggroup.com.