In what many are seeing as a surprise on the market and in the industry late this month is the entirety of Sportech PLC being placed as “For Sale” by its board.
To give you a background about who they are, in case you fancy owning them, Sportech are one of the world’s leading suppliers of sports betting technology as well as leaders in the specific field of “pool betting”.
The company processes over $11 billion (£8.5 billion) in bets annually, with a presence in over 30 countries and licensed to operate in over half of the US States. Sportech is headquartered in London and listed on the London Stock Exchange.
Sportech operates technology solutions for some of the world’s best-known gaming companies, sports teams and racetracks. Sportech is also very proud of its history which includes owning, operating and modernising the world’s oldest football gaming brand, the iconic Football Pools brand in the U.K, which at its peak had over 10 million players every week and raised £1.1 billion for good causes.
Those numbers, figures and facts tell you just how much such a company has grown since its own inception and just what it could bring to any buyer – a worldwide betting acceptance channel and technological dependence.
Richard McGuire is the Non-Exec Chariman of Sportech PLC, and he’s been speaking to the media regarding the decision to put the company up for sale and just what they are expecting and have received so far;
We announced last month a comprehensive strategic review to assess options to enhance shareholder value. Further to this investigation, we have today launched this formal sales process.
Whilst we note there is no certainty that an offer, or suitable offer, will be forthcoming, our confidence in our businesses, in our growth opportunities and in our dedicated professional colleagues means that a potential sale is only one of the strategic options open to the Company.
Sales are about numbers and Sportech have 10 things about them you probably don’t know, so let’s look at those;
- Over $11bn horse racing bets placed globally
- Sportech technology is behind 17% of all pool bets placed globally
- Provides technology systems to the Macau Jockey Club
- Largest US operations of any UK company
- Licensed in 28 US states – the US is 66% of revenues
- Exclusive license to receive horse racing bets in the US and Holland
- 34 countries worldwide are recipients of Sportech’s solutions and services
- Operates 16 betting and entertainment venues on US soil
- Their BUMP 50:50 provides in stadia charitable gaming technology to major North American sports teams
- Owned the iconic Football Pools brand which, when peaked, had over 10m weekly players and raised £1.1bn for good causes
Either way you look at it, Sportech has room for growth and will continue to be leaders of the industry in so many ways – this is a great prospective purchase for any established company or group to make.