Sportech PLC Strategic Alliance
November 16 2018 - 2:00AM
RNS Non-Regulatory
TIDMSPO
Sportech PLC
16 November 2018
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) sportech@buchanan.uk.com
Henry Harrison-Topham / Mark Court
/ Jamie Hooper
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(TM) System being the most widely deployed
pari-mutuel betting system globally.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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