31 May 2018 12:45
For immediate release | 31 May 2018 |
Sportech PLC
('Sportech' or the 'Group')
US Sports Betting Platform Agreement
Sportech, the international betting technology business, today announces that the Group has signed a commercial sports betting agreement (the 'Agreement') with Sportradar AG ('Sportradar'), a global leader in the provision of data and digital content to the betting industry, enabling the Group to offer a fixed odds sports betting book in the emerging US sports betting marketplace.
Under the terms of the Agreement, Sportech will be able to offer Sportradar's trading and risk management services, as well as its comprehensive range of tools and services in the anticipated roll-out of legal sports betting in the US.
This new Agreement, which follows the US Supreme Court's recent decision to allow US states to adopt legislation to permit and regulate sports betting, will allow Sportech to offer Sportradar's proven sports betting related product portfolio to the Group's network of over 90 licensed operator business clients and other eligible operators in states where sports betting activity is legislated. This includes pre-match and in-play betting services, content, trading tools, and risk management services. Sportech will also deploy Sportradar's turnkey sports betting platform across its retail business in Connecticut when legislation permits.
Commenting on the Agreement, Andrew Gaughan, CEO of Sportech, said: "We are pleased to expand Sportech's product line to include Sportradar's globally recognised sports betting capability. We are now well placed to deliver a world class sports betting experience to our business clients across the US as well as to our retail customers in Connecticut through our online and mobile channels, when legislation permits. Sportradar is a leader in sports event data, monitoring, and integrity and is an official partner for the NBA, NFL, NHL, NASCAR amongst others and we are pleased to have forged this strategic agreement."
Neale Deeley, VP Gaming Sales for Sportradar, said: "We are excited to partner with Sportech, who share our vision of how the US sports betting market will unfold and who are well positioned to capitalise on that market with their existing gaming licenses and strong customer base. Sportradar's turnkey solutions and market leading bookmaker services will accelerate their sportsbook offering and provide them with a strong advantage as other states pass sports betting legislation."
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Publication on website
A copy of this announcement is also available on the Group's website at www.sportechplc.com.
The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement this inside information is now considered to be in the public domain.
Contacts:
Sportech PLC | Tel: +44 (0) 20 7268 2400 |
Andrew Gaughan, Chief Executive Officer |
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Tom Hearne, Chief Financial Officer
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Peel Hunt LLP | Tel: +44 (0) 20 7418 8900 |
(Corporate Broker to Sportech) Dan Webster / George Sellar |
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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 www.sportechplc.com
Sportech PLC, listed on the London Stock Exchange, provides and operates technology solutions for some of the world's best-known gaming companies, sports teams, horse and greyhound racetracks, as well as owning and operating its own gaming venues in Connecticut, USA under exclusive licences.
The Group is the international betting technology business focusing on highly regulated markets worldwide. It has more than 27,000 betting terminals deployed to over 400 clients, across 37 countries including those in the USA, where it operates under 35 licences, across 37 States and processes approximately US$12 billion of bets annually.
The Group has invested over US$60 million in developing its technology services to clients and the successful expansion of its leading US gaming Venues in the last five years, resulting in its proprietary Quantum™ product being the most widely deployed pari-mutuel betting system globally.
About Sportradar www.sportradar.com
Sportradar is a global leader in understanding and leveraging the power of sports data and digital content for its clients around the world. They provide cutting-edge solutions and services to media companies, bookmakers, sports federations and state authorities and is truly international organisation, employing over 2,000 people in more than 30 locations around the world.
- Sportradar is the leading provider of live data services to the betting industry, offering products to suit every business: from data collection through to fully managed trading services.
- With Sportradar's Live Channel, backed by its extensive portfolio of audio-visual rights, it offers round-the-clock coverage of live sports content streamed to betting websites and betting shops around the world.
- Sportradar's focus on technology and innovation has made it a premium partner for the media industry, offering sports content solutions for online and mobile customers, from live scores and statistics, to match visualisations and apps.
- Uniquely in its industry, Sportradar also leverages its data to provide betting monitoring services to sports federations and law enforcement agencies to help in the fight against match-fixing. In the field of sports integrity, Sportradar is now firmly established as the world's leading supplier.