16 Nov 2018 07:00
For immediate release | 16 November 2018 |
SPORTECH PLC
('Sportech' or the 'Group')
Strategic Alliance
Sportech PLC (LSE: SPO), the international betting technology business, announces a strategic alliance with iLottery provider Lot.to Systems Limited ("LOT.TO") and has entered exclusive negotiations with a view to acquiring 100 per cent. of LOT.TO on a share-for-share basis. The acquisition would be non-material in the context of the Group. The alliance will provide mutual clients with a broader suite of gaming opportunities and an acquisition would further solidify Sportech's global gaming services position.
"The global gambling market is estimated to reach an annual turnover of US$ 635bn by 2020, with the lottery sector accounting for about 30% of that," said Richard McGuire, Executive Chairman of Sportech. "Our strategic alliance with LOT.TO will enhance our existing successful core lottery product and will help us to capitalise on the worldwide growth of lottery and lottery-style games and reach an ever-expanding digital audience."
UK based and regulated, LOT.TO is a digital specialist and B2B partner of some of the most innovative online gambling businesses in the world. Its products include inventive lottery and betting games and state of the art player management systems delivered on its cloud-based 'iLottery' platform.
"For worldwide appeal, no other gambling product comes close to lotteries," said Andrew Lindley, Co-founder of LOT.TO. "Our future with Sportech is hugely exciting because our clients can benefit from the combination of Sportech's proven robust processing technology and hardware and our innovative iLottery platform in a single offering as well as the obvious synergies in sports betting platforms. Together, we can offer clients a truly world-class omni-channel solution that's incredibly powerful."
The Group will update the market when appropriate.
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 | |
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.