12th Nov 2013 09:05
LONDON (Alliance News) - Sportech PLC Tuesday said that it is trading in line with its expectations for the full year, as investment in its US business is set to drive growth, and after it sold-off its loss making e-gaming business.
The online gambling and sport-entertainment company sold its loss-making e-gaming division, Vernons.com, last month for GBP3 million to NetPlay TV PLC.
In September, Sportech bought Data Tote Ltd., an on-track and online greyhound and horse race betting services provider in Europe, for an initial consideration of GBP3.1 million. It said the acquisition will significantly strengthen its European horse-race betting operations.
Sportech said its flagship betting and sports bar in the US state of Connecticut will open next month.
The group also in September entered a joint venture with Picklive Ltd. to launch a new gaming product targeted at the growing US fantasy sports market. It said the website is scheduled to go live in mid 2014.
Sportech said its Sportech Racing business remains in line with expectations, as it continues to invest in new online and mobile products to help drive customer revenues and cost efficiencies.
Sportech said revenue at its football pools division is in line to meet full-year expectations, helped by the distribution agreement with the French betting operator France-Pari which commence during the period.
Shares in Sportech were up 0.3% Tuesday morning, at 87.75 pence per share.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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