9 Jun 2017 07:30
Sportech reports further progress in licensing and
opportunities in Connecticut
9 June 2017 - Sportech PLC ("Sportech") is pleased to announce that it was granted approval to increase the number of wagering venues permitted by the State of Connecticut, from its current licence of 18 venues to 24 venues.
On June 7, by a 22-14 vote, the State Senate voted in favour of House Bill 6948, which will become law within 15 days after the bill is presented to the Governor for signing. The Governor does have a right of veto.
Under an exclusive licence, Sportech currently operates 15 venues in Connecticut, and will open its 16th venue over the next few days in Stamford; a 20,000-square foot sports bar, restaurant and betting venue.
The House Bill also requires that the Department of Consumer Protection (the Regulator of gaming in Connecticut), establishes a regulatory framework for sports betting in anticipation of a potential change in federal law to permit it.
Furthermore, the House of Representatives has passed a bill to allow the Mashantucket Pequot and Mohegan tribes to develop a casino in East Windsor.
Ian Penrose, Chief Executive said "These positive developments will allow us to further strengthen our business interests in Connecticut. We remain committed to acting as a responsible gaming operator in the State."
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For further information, please contact:
Sportech PLC 020 7268 2400
Ian Penrose, Chief Executive
Mickey Kalifa, Chief Financial Officer
Brunswick Group LLP 020 7404 5959
Mike Smith
Stuart Donnelly
sportech@brunswickgroup.com
Investec Bank PLC 020 7597 5970
Patrick Robb
Peel Hunt LLP 020 7418 8900
Dan Webster