8th Jul 2014 08:33
LONDON (Alliance News) - Online sports gaming and entertainment company Sportech PLC Tuesday said it has won a contract with UK bookmaker Betfred to provide new betting technology products to Betfred's Totepool business.
Sportech said the new 10 year contract is expected to be worth more than GBP9 million in revenue.
Betfred's Totepool business holds the exclusive licence to operate all tote betting on British horse-racing. Tote betting provides payouts from a betting pool.
Under the contract, Sportech will replace Betfred's entire existing tote systems with its Quantum system, and provide a new digital framework for betting on mobile devices, online and on self-service terminals. Sportech said it will also provide ongoing maintenance and support.
Sportech has invested heavily to improve the quality of its technology over the last two years. The latest agreement with Betfred follows a number of recent contract wins, including a contract with US racecourse and casino group Penn National Gaming and Danish state controlled gambling operator Danske Spill.
Last month, Sportech also entered into an agreement through its joint venture with NYX Gaming Group Ltd, to provide a new online gaming platform to the Atlantic City-based Resorts Casino Hotel.
Sportech shares were trading 0.3% higher at 92.00 pence Tuesday morning.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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