Sportech aims for U.S. expansion

Sports Betting

Sportech said today its retail Venues division revenue growth for 2018 to date is up on 2017 but below management’s expectations following the investments made in 2016 and 2017.

In his annual general meeting statement, Sportech Chief Executive Officer Andrew Gaughan said the betting technology business’s Racing & Digital division is trading in line with expectations.

“Bump 50:50 continues to make encouraging progress, growing its market share in the provision of technology and support services for in-stadia electronic charity lotteries,” Gaughan said.

Gaughan also welcomed the US Supreme Court decision earlier this month to permit US states to licence sports betting.

“We believe that Connecticut, where Sportech owns and operates a network of off-track betting facilities and a licensed online and mobile betting services, will be an early adopter of a comprehensive and rigorous regulatory framework for sports betting.

We have been a proactive supporter of legislation to regulate sports betting to combat the spread of illegal activity and to protect consumers, the CEO said. “Sportech has a presence in 37 states, and we therefore believe that we are extremely well positioned to act quickly and decisively in those states that pass legislation permitting sports betting in the wake of this decision.”