Sportech Share Discussion Threads

[trentendboy] 29/6/2014 08:14

That is a lot of bolt ons for that much money.

Has to be special divi.

Shareholders should demand it

[nod] 28/6/2014 03:24

SPO has been buying bolt on companies in North America and I have a feeling that is where any windfall will go.

[trentendboy] 27/6/2014 20:33

If this money is kept for which there must be a good chance what then the share price?

Must be 1.20 I would guess.

Should be one hellava special dividend that is for sure

[scrapman] 27/6/2014 13:17

something definitely going on imho , 4mil yesterday and still buying today

[eezymunny] 27/6/2014 10:39

BEST is a little interesting Jeff H

I read somewhere that if SPO/BEST ultimately win their cases that in future they'd need a lottery license to keep doing spot-the-ball and similar. I guess BEST don't have that so may have to do summat different for their car game online in future. No idea how that would affect them. True also of SPO but a much smaller part of their biz.

Haven't researched this much so do check for yourself!

[nod] 27/6/2014 10:14

A nice feeling to have the money in the bank. The Act is rightly handling cases where the appellant may try to draw out their appeals as long as possible. In this case this is the UK government spending tax payers money to appeal a ruling. I hope someone in Government is taking a good look at the merits of these cases as it could well be private lawyers milking the Government when the likelihood of success is very low.

[jeff h] 26/6/2014 13:41

BEST have a similar outstanding VAT claim also for a Spot the Ball type issue.

Assuming they get to keep their £2.2m rebate to add to the £2.2m cash they already held at April 2014 the company will have say £4.4m cash with just over 9 million ordinary shares in issue = 50p a share in cash.

I'd say 40p or more would be returned to shareholders so happy to have bought some more BEST today at 62.95p.

Hoping then to have paid a net say 23p valuing the company at approx £2.1m whilst it is forecast to make £0.5m this year and £0.6m next.

[miss ann thrope] 26/6/2014 11:47

We should spend it on an acquisition then if the barstewards do demand it back we appeal, which will take as long as those tw@ts took holding OUR money, lets say 10 years will do?

[finkie] 26/6/2014 11:03

I agree its a strange update to be honest, it might all have to be paid back if HMRC win but I guess with SPO winning round 1 it was always a long shot for HMRC, they do seem to do this a lot and lose from memory......case law was against them anyway from memory.

I guess someone feels its a done deal though.

[miss ann thrope] 26/6/2014 10:11

unal's Tax Chamber in March 2013, Sportech can confirm that Her Majesty's Revenue & Customs ("HMRC") has now paid Sportech £93 million, with the remaining £3 million to be paid to Sportech in the event of a successful final determination. This is pursuant to Section 85 of the Val
---

We HAVE the money

[trentendboy] 26/6/2014 09:59

This is still big news - must show that the the government is not confident of getting it back.

Should see this move to £1 in quick order.

If the money is confirmed debts are wiped out and a war chest is in place for more US moves

[eezymunny] 26/6/2014 09:51

Not really news at all. I assume that there is a timing rule that states HMRC must hand over the dosh, but as it says they must hand it back if HMRC win the appeal. I remain strongly of the view that SPO will win the case (but who knows?).

So we await 2 things...

. the result of the appeal
. news as to whether SPO will try to claim compound interest rather than just simple interest (as paid today). Then the SPO share price really would IMO go through the roof.

My original thinking here



I've read the VAT case in detail since I posted that and more confident now that they will win - but all down to the UTT judges at the end of the day and not my opinion!

[scrapman] 26/6/2014 09:40

ah , I see half a million through since 9-20 am ,

[scrapman] 26/6/2014 09:37

seems a strange update ? we already knew the circumstances and that we were awaiting news , why put that out now

[johnwise] 26/6/2014 09:32

Good news indeed

Sportech PLC Update on VAT Claim

[scrapman] 25/6/2014 15:54

some very steady trades of 25 and 50k since just after 2.15 ,

[nod] 23/6/2014 10:54

Excellent news to see SPO winning a big US Casino. Hopefully a lot more to follow. SPO are notching up successes in the USA. Those US licenses and contracts will be attractive to a few overseas companies keen to get into the lucrative US market.A long development time of 7 months before Resorts goes live in January 2015.

[trentendboy] 20/6/2014 11:38

The talk of Amaya (world's largest gaming group) leads one to build in a little "takeover" expectation into the SPO share price.

Interesting times

[trentendboy] 20/6/2014 11:36

London-listed betting and gaming operator Sportech is to enter the New Jersey online gaming market through a partnership with the company that had originally looked set to launch with PokerStars operator Rational Group, the Resorts Casino Hotel.

The partnership has been sealed between the land-based venue and SNG Interactive, Sportech's joint venture with NYX Gaming Group, and will see the company supply Resorts Casino with a new online gaming platform.

Sportech and NYX will each invest up to $2m in the venture, with the platform expected to launch by January 2015. Once live it will offer a full range of online casino games provided by SNG, including roulette, blackjack and slots, as well as turnkey operational support including customer support and other services. There is no mention of online poker in the agreement.

The deal is the first initiative to be launched as part of Sportech's drive to create an online gaming business division alongside its retail, telephone and online betting operations in the US. To aid this drive the joint venture with NYX Gaming Group was sealed in December last year, and earlier this month former Slingo chief executive Rich Roberts joined the operator as president of digital.

The games will be launched through NYX's Open Platform System, and will include a selection from the supplier's NextGen Gaming subsidiary as well as other leading suppliers integrated with the solution.

The operator's chief executive Ian Penrose said he was delighted to have reached an agreement with such a well-known venue in Atlantic City.

"The establishment of online gaming activities in New Jersey represents an important next step in the development of our US business and we are well positioned for future growth across the US as regulation permits," he explained. "We have worked closely with Resorts and NYX for a number of months now, and look forward to the planned launch."

NYX CEO Matt Davey said he was very proud to work with partners of the calibre of Resorts and Sportech, describing the casino as holding an iconic position in the industry.

"The combination of NYX's flexible gaming solutions and extensive library of high quality game content will be key contributors to the unique positioning and success of Resorts iGaming venture," Davey explained.

In July last year Resorts entered into a partnership with Rational Group which was expected to see the PokerStars and Full Tilt owner launch online poker and casino games with the venue. However the deal was put in jeopardy by New Jersey regulator the Division of Gaming Enforcement (DGE) suspending the operator's licence application for two years over concerns relating to the company's post-UIGEA activities and the involvement of certain executives.

However Amaya Gaming Group chief executive David Baazov last week spoke of his plans to revive the partnership following his company's $4.9bn acquisition of Rational last week. As the announcement specifically states that SNG will supply the venus with online casino games and does not mention poker, it remains to be seen whether Rational will still be involved.

Resorts is the oldest casino in Atlantic City, having opened in 1978, and was the first casino to open in the US outside of Nevada. It has been owned by DGMB Casino LLC since 2010, which saved the venue from being shut down after it had failed to pay its mortgage for over a year.

DGMB is owned by New York-based property developer Morris Bailey, which also holds a stake in the Connecticut-based casino operator Mohegan Sun, an existing customer of Sportech through its casino-based racebook and race course betting activities.

[trentendboy] 20/6/2014 08:21

Another US deal - the US footprint is growing.

SPO itself may well find itself a takeover target once the VAT stuff has been settled one way or the other.

[johnwise] 13/6/2014 06:55

Henderson Global Investors have see the growth potential, they have taken their holding to 20 per cent of the company recently
Henderson Global Investors are an international investment company, with a strong reputation going back to 1934. They currently manage £79.2bn and employ more than 1,000 members of staff worldwide..


Intuitional investors holding Sportech shares..

Henderson Global Investors Limited: Holding 41,609,112 Valued £34,119,472

Newby Manor Ltd: Holding 35,593,010 Value £29,186,268

AXA S.A.: Holding 11,150,306 Value £9,143,251

Aberforth Partners LLP: Holding 11,100,885 Valued £9,102,726

Norges Bank : Holding 6,500,444 Value £5,330,364


13 June 2014 Sportech PLC Appointment of Executive Director


.

[trentendboy] 12/6/2014 21:39

Nice move on no news. One might even suspect a leak on news of the settlement.

Tempting to but the momentum

[miss ann thrope] 12/6/2014 17:38

Lot if people doing the pools in the World Cup, looking good