4 Jun 2014 09:07
4 June 2014
Sportech PLC ("Sportech") gains approval for
Stamford's first Sports Bar, Restaurant and Betting Venue
Sportech, one of the world's leading operators and suppliers of pools and tote betting services, is pleased to announce that it has obtained regulatory approval to build and open a flagship sports bar, restaurant and betting venue in downtown Stamford, Connecticut. Stamford has a population of more than 120,000, is home to a thriving financial district and is situated close to the border with New York.
The development will be the second of its type in the state of Connecticut following the successful opening earlier this year of Sportech's $4 million 10,000 square foot sports bar in Bradley where up to 370 customers can bet, play, dine and drink in the multi-use facility.
The Stamford venue, which is a redevelopment of an existing building, is scheduled for completion in 2015 and will consist of a 20,000 square foot facility, split between two floors. The ground floor will comprise a sports bar and restaurant, with giant television screens, while the upper floor will have a separate bar area and spaces dedicated to the betting enthusiast. Like Bradley, Stamford will be operated in partnership with baseball legend Bobby Valentine, a resident of Stamford and restaurant entrepreneur.
The Stamford sports bar, approved on Monday evening by Connecticut's Board of Representatives, highlights Sportech's progress in repositioning the traditional Off Track Betting proposition in the US and its commitment to delivering the next generation of gaming opportunities for customers.
Ian Penrose, Chief Executive of Sportech PLC, said: "This decision is another significant step in the development of our business in Connecticut, following the successful opening of our innovative Bradley venue and launch of the State's only legal online betting site, Mywinners.com earlier this year. We are the only licensed operator of betting in Connecticut, and are confident Bradley and Stamford can fill a gap in the leisure market.
The new venue in Stamford demonstrates our commitment to customers and employees to develop an exclusive, innovative, thriving and multi-channel gaming and leisure business in the State. Following the opening of our Stamford venue, we expect our betting volumes in Connecticut alone to exceed $200 million per annum."
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For further information, please contact:
Sportech PLC 020 7268 2400
Ian Penrose, Chief Executive
Cliff Baty, Chief Financial Officer
Brunswick Group LLP 020 7404 5959
Mike Smith, Tom Williams sportech@brunswickgroup.com