Sportech Share Discussion Threads

[noujay] 13/3/2018 20:04

Article on it too. This will go way south on this news - not meaning to state the blindingly obvious

[kooba] 13/3/2018 19:36

Tweeted by sky business reporter Mark KleinmanExclusive: London-listed pool betting group Sportech to shock investors (and prospective bidders) with profit warning tomorrow prompted by what I'm told are "accounting issues".

[nod] 08/3/2018 01:50

Sportech Racing and Digital to Provide New Web and Mobile Betting Platforms to Parx Racing®

New contract for digital channels accompanies extension of pari-mutuel tote services agreement also signed between the parties



Andrew Gaughan, President of Sportech Racing and Digital, commented, "We are happy to have once more been selected as pari-mutuel technology provider for Parx Racing®. Sportech has deployed over 25 websites and over 25 mobile apps for customers in the Americas, the Caribbean, Europe and Asia and we are very pleased to be able to add our valued customer Parx Racing® to that list. We are committed to delivering to their players an overall enhanced digital user experience that helps extend the excitement of the racetrack to the digital channels."

[nod] 06/3/2018 18:32

We know there are interested parties.We don't know the price.Price is usually the first sticking point.Regulatory approval is the second sticking point.The institutions are indicating the price is 80p

[nod] 06/3/2018 18:27

Continuation of Formal Sale Process under the Takeover Code("Formal Sale Process")30 January 2018 On 19 October 2017, Sportech initiated a Formal Sale Process, following preliminary approaches to acquire the Company. Following an initial round of discussions, the Company continues its engagement with selected interested parties regarding the sale of the group. These discussions are continuing with a timetable for seeking valid offers extended through the first quarter of 2018.

[runthejoules] 06/3/2018 16:16

Anyone think this is actually going to get sold or what?

[trentendboy] 21/2/2018 16:37

LOL - nice post VZ

[van zandt] 21/2/2018 14:09

o1dsmokie,

I don't understand you these days you have never been with so many who look and feel like yourself, we are all friends now and soon we will be all gone and then you will miss us!
as ever regards,
VZ

[o1dsmokie] 21/2/2018 11:13

God what a bore this thing is

[nod] 12/2/2018 12:50

Your broker will. Cheaper than a doctor's visit.Give them a call asap.

[nod] 08/2/2018 05:29

Very interesting .. SPO has pulled out of the Danbury project after a year of prep and planning.

SPO puts withdrawal down to the sale of the company.
Tom Devine is extremely unhappy and says he will not work with SPO again.

Hopefully, this indicates a sale is now imminent and the buyer does not want the off-track sports bars.

DANBURY — The controversial proposal to open the city’s first off-track betting parlor ground to a sudden halt this week, but not because of opposition from residents or the City Council.

Off-track betting vendor Sportech Venues surprised city leaders Tuesday afternoon when it withdrew its proposal to open a parlor at Two Steps Downtown Grille.

The move caught city council members off guard since they spent the weekend wrangling over language for a final decision following a 15-5 vote in support of the project early last week. The facility was set to receive its final approval Tuesday night.

Not long after last week’s vote, though, the board of directors of Sportech Venues’ London-based parent company, Sportech PLC, abruptly put all of its ongoing projects on hold pending the parent company’s sale, Sportech Venue President Ted Taylor wrote to city leaders in a letter.

“We respect the city of Danbury and its officials and residents, however, regrettably, being a publicly quoted company mandates certain international regulatory issues and requirements,” Taylor wrote. “That said, we assure you that we remain both excited and enthused about hopefully working with Danbury in the near future to deliver jobs and create mutual benefits.”

Sportech, Connecticut’s sole off-track betting operator, has worked over the past year with Two Steps owner Tom Devine to change city rules to allow the parlor upstairs at the downtown restaurant.

full story:

[o1dsmokie] 05/2/2018 10:04

wtf are those weird trades one at a penny and one at 7p?

[trentendboy] 31/1/2018 20:51

Interesting that the deadline has been extended. Good for share price as I guess the city had priced in no deal.Hence the rise today% would have to be some premium and I can see a quid easy

[nod] 31/1/2018 12:12

Hi TEB, Fingers crossed you are right.
My gut feeling says no interested buyer is going much over the current market valuation.
I have a feeling that the political situation is quite complex in the USA States in which SPO operates - let alone those States it doesn't operate but would like to expand.

In the Democratic States of Connecticut, New Jersey and California they have been favourable to online gambling. But the Federal legislation is always trying to hold these States back to favour their very rich Casino-owner friends.

With Trump protectionism "America First" it will only get harder for any aliens.

[trentendboy] 31/1/2018 08:46

Be surprised to see no uplift over 80p

[nod] 31/1/2018 00:38

SPO states there is currently more than one party in the frame. I suspect the initial offer values the company at around 80p - as the price has stuck firmly around this level.

[nod] 30/1/2018 19:08

The Football Pools operation was up for sale for more than four years before it eventually sold for the right price. There were at least two agreed bids that broke down due to financing.The remaining business of Sportech Racing is much more complex because any buyer requires US regulatory approval. There is no point agreeing a great offer from a bid that will be rejected by regulators.

[nod] 30/1/2018 19:00

They gave shareholders some information on 19 October and explained they have to comply with the Takeover Code. At that time there were four interest parties. "several parties have contacted the Company to enquire regarding the Company's plans, four of which have made preliminary approaches to acquire the Company. Although, the Company has acknowledged these enquiries it has not engaged in detailed discussions with those parties to date.It is currently expected that any party interested in participating in the formal sale process will, at the appropriate time, enter into a non-disclosure agreement and standstill arrangement with Sportech on terms satisfactory to the Board of Sportech and on the same terms, in all material respects, as other interested parties. The Company then intends to provide such interested parties with certain information on the business, following which interested parties shall be invited to submit their proposals to Canaccord Genuity."

[dtaliadoros] 30/1/2018 15:46

If they've had an approach...why keep the identity a secret.....surely if the company is for sale....it would make more sense to make it open and transparent. Might encourage further bids!

[lucyp00p] 30/1/2018 15:22

So is this a sealed auction or a takeover / buyout? I may have missed something since Gordon Gecko bought Tristar but since when do you need permission to buy a company? This looks like board speak for nobody wants to buy this company

[o1dsmokie] 30/1/2018 10:09

Christ its like trying to knit fog!

[nod] 30/1/2018 10:02

End of March is new deadline."On 19 October 2017, Sportech initiated a Formal Sale Process, following preliminary approaches to acquire the Company.Following an initial round of discussions, the Company continues its engagement with selected interested parties regarding the sale of the group. These discussions are continuing with a timetable for seeking valid offers extended through the first quarter of 2018.Current discussions may be altered or terminated at any time and, accordingly, there can be no certainty that an offer will be made, nor as to what the terms of any offer may be.

[noujay] 30/1/2018 09:46

Thrilling!