Outstanding progress at Sportech
Pool and sportsbetting operator Sportech has claimed in an interim management statement that ‘substantial strategic progress’ was made during the third quarter of 2013 to allow the company to position itself for future growth opportunities.
The firm’s Sportech Racing operation posted betting turnover of $160 million (€118.5 million) for the latest quarter through to the end of September, a 10% rise that Sportech attributed to the increase in traffic created by the Breeders’ Cup horseracing event in November.
To drive this sportsbetting growth further, during the third quarter Sportech purchased on-track and online racing betting service Data Tote and struck a partnership with fantasy sports specialist Picklive US.
In addition, Sportech said its football pools operation is “in line” to meet expectations following the agreement of a distribution deal with France-Pari and approval from French regulator Arjel for French citizens to access its Football Pool.
Elsewhere, Sportech moved to stem losses in eGaming by selling its Vernons.com business to the gaming division of interactive gaming company NetPlay TV. The firm reiterated in its management statement that Vernons.com was loss-making and could no longer compete in the UK market ahead of the implementation of UK Point of Consumption tax.
“The Group continues to perform operationally in line with expectations and has made substantial strategic progress during the period,” Sportech said in a statement. “The Group is well positioned to capitalise on future growth opportunities across its key markets.”