RNS Number : 6924L
Sportech PLC
23 April 2018

For immediate release

23 April 2018


Sportech PLC

('Sportech', the 'Company' or the 'Group')


Proposed sale of Sportech Racing BV


The Board of Sportech announces that it has agreed terms with RBP Luxembourg ('RBP') regarding the proposed sale of Sportech Racing BV for a total cash consideration of up to €3.25 million on a debt free/cash free basis (the 'Proposed Disposal').


Sportech Racing BV is the Company's Netherlands business, which obtained a new five-year licence in June 2017 for the exclusive rights to carry out tote betting on horseracing in the Netherlands.  This licence is operated in nine betting shops, 38 other outlets with point-of-sale terminals and online through the Company's website www.runnerz.nl.


The Proposed Disposal is subject to, amongst other things, local regulatory consent and the transfer of various agreements and licences (on market terms) from certain Sportech group entities to Sportech Racing BV.  €2.8 million of the consideration will be payable at closing and up to a further €450,000 will be payable in January 2019, subject to certain agreed performance conditions being met.  The transaction is expected to close in H2 2018.


Andrew Gaughan, CEO of Sportech, said: "The Proposed Disposal represents an attractive opportunity to realise value following the successful licence extension and restructuring of the business by management as we increase focus on US growth opportunities.  Sportech will continue to provide RBP, under a long term contract, its ongoing tote services and also has a strong working relationship with them focused on developing and selling their French racing pools into our vast footprint of global customers."


There can be no certainty that the Proposed Disposal will complete and a further announcement will be made in due course.


On Tuesday, 24 April 2018 Sportech will release its preliminary results for 2017.  There will be an analyst presentation at 09.30 a.m. at Buchanan Communications, 107 Cheapside, London EC2V 6DN and an audio cast which will be available on the Investor Relations section of the Company's website later that day.


Publication on website

A copy of this announcement is also available on the Company's website at www.sportechplc.com.




Sportech PLC

Tel: +44 (0) 20 7268 2400

Andrew Gaughan, Chief Executive Officer

Peel Hunt

Tel: +44 (0) 20 7418 8900

(Corporate Broker to Sportech)

Dan Webster / George Sellar


Tel: +44 (0) 20 7466 5000

(Financial PR adviser to Sportech)

Henry Harrison-Topham / Mark Court / Jamie Hooper




Notes to Editors:


About Sportech

Sportech PLC, listed on the London Stock Exchange, provides and operates technology solutions for some of the world's best-known gaming companies, sports teams, horse and greyhound racetracks, as well as owning and operating its own gaming venues in Connecticut, USA and the Netherlands under exclusive licences.


The Group is a leading player in the global pari-mutuel betting technology sector focusing on highly regulated markets worldwide.  It has more than 27,000 betting terminals deployed to over 400 clients across 37 countries including those in the USA, where it operates under 35 licences across 37 States and processes approximately US$12 billion of bets annually.  The Group has invested over US$60 million in developing its technology services to clients and the successful expansion of its leading US gaming Venues in the last five years, resulting in its proprietary Quantum™ product being the most widely deployed pari-mutuel betting system globally.



This information is provided by RNS
The company news service from the London Stock Exchange