Sportech Share Discussion Threads

[nod] 05/6/2018 10:48

Sportech shows off its products and services in Connecticut to the President (of the Hawthorne Race Course just outside of Chicago, Illinois), whose race course already uses Sportech for horse race betting and is now looking at Sportech's sports betting and venues in readiness for legalisation in Illinois.

I feel Sportech is well-placed to provide extended sports betting services as it is legalised. No need for another set of terminals in each location.

[nod] 04/6/2018 10:15

Deutsche Bank have come come out of nowhere to own 5.53%These big guys are paying a lot more than they would have a few weeks ago ... we are on the radar at last.

[van zandt] 02/6/2018 13:50

hi all,
I agree it does seem an extraordinary purchase and I hope it is a vote of confidence , it just seems so odd as 'nod' has said why now when he could have bought at less than 1/2 the price he paid.
as ever regards,
VZ

[trentendboy] 02/6/2018 08:36

That is a big vote of confidence at that price.I suspect it will appear cheap once the deals start piling in - key is first mover advantage and existing US licences and track ownershipMat surprisingly end up being the big winner from the US opening

[nod] 01/6/2018 21:31

Sand Grove Funds also adding26,875,427 total shares 14.39%

[nod] 01/6/2018 20:56

That's a considerable vote of confidence by Richard Cooper. His first purchase and at a high price. He could have bought a lot lower a few weeks ago. He must know something has dramatically improved."on 1 June 2018, Richard Cooper, a Non-Executive Director of Sportech, purchased 125,000 Ordinary Shares ('Ordinary Shares') at 83.5 pence each in the Company.Following the above purchase, Richard Cooper now holds 125,000 Ordinary Shares representing 0.07% of the issued share capital of the Company."

[nod] 31/5/2018 13:26

Sportradar is very big in the USA with three of the four major sports.https://www.bloombergquint.com/business/2016/08/12/nba-said-close-to-250-million-data-deal-with-sportradar

[mirabeau] 31/5/2018 11:54

RNS - agreement

[nod] 31/5/2018 09:37

There's no indication they are talking to anyone about a takeover. If they apply the same strategy as with Football Pools they don't waste further time taking. They get on with the business until someone comes up with their price, whatever that is.

[trentendboy] 31/5/2018 08:08

It is sinking in that SPO will be one of the big winners from the US news.SP has done well but plenty more imoTO most likely - I wonder who they are talking to at the moment

[nod] 30/5/2018 22:44

In its April Presentation, page 22, Sportech supplied a great analysis of the State by State preparedness for sports betting legislation. The seven levels range from ready to non-started (no appetite). Half of the States are in the no-activity status. I think we can rule most of those out for the next year or two and there is likely to be significant resistance in most of those.Sportech has gambling licences and horse racing betting in 37 States with the strongest being Connecticut, New Jersey and Pennsylvania. These three States are in the Imminent or Drafted status. Near the top. We know Sportech is proposed in the Connecticut draft billhttp://www.sportechplc.com/investors/results/

[nod] 27/5/2018 23:40

At the AGM last week Sportech explained its "America First" strategy. It also highlighted the recent success of the Kentucky Derby, which is good.

"Highlighting the vast potential of the US betting market, Gaughan points to May’s Kentucky Derby which was a great success for Sportech systems.

“Sportech technology effectively processing approximately 93 million transactions through 280 North American locations on behalf of end-user customers. We recorded record turnover, with total handle up 4 percent on last year with internet wagering leading the growth, while food and beverage sales delivered solid gains on the previous year. We are now looking forward to heightened interest in the Belmont Stakes on 9 June 2018 due to the potential for a triple crown winner.”

[nod] 27/5/2018 19:31

VZ, I prefer to present news and facts rather than give personal opinions or financial advice to others.
Now and then a company is significantly undervalued and neglected by the market, as was the case with Games Workshop a couple of years ago, and I might then speculate where the price will be in a year hence.
Most times, the market values about right.
While the potential is good if everything goes well, things don't always go well.

[van zandt] 27/5/2018 15:52

nod thanks for all the info.

you have not expressed an opinion as to short or medium term for SPO. IMHO it is not looking too bad.
as ever regards
VZ

[nod] 27/5/2018 06:40

Wakey, wakey!

The Sunday Times is out with an article on Sportech

You need to give them your email for the full article, but it includes the paras below.
I now think that it's not William Hill but Scientific Games Digital (the company SPO bought Racing from). Just a guess. SG Digital recently hired a top guy from Playtech (Steve Schrier) to head up a global firm from London.

Paras from ST
"Under the Sportech deal, which sources close to the company say is expected “imminently”, it will join forces with a technology firm that offers sports betting odds, allowing Sportech to expand its services to its existing customers.

Sports betting in the US is a huge opportunity for British companies. In the state of Connecticut, for example, the illegal gambling market is estimated to be worth $600m a year. Sportech owns and operates a network of off-track betting facilities in the state, along with a licensed online betting service — all of which stand to gain from the legalisation."

[nod] 27/5/2018 01:52

Sportech's biggest US presence is in Connecticut and officials say SPO is one of four operators in the proposed sports betting legislation. Connecticut and New Jersey look to get off the blocks early and there should not be resistance within those States. SPO takes over US$900 million in wagers in New Jersey and has around 2,300 terminals in operation.SPO operations in New York State are a similar size: US$900 million in wagers and 1,553 terminals. Rumour is NY may be next year for legislation.The other early bird is Pennsylvania where SPO operates 12 racetracks and has 1,360 terminals, around US$565 million in wagers through customer Penn National. Pennsylvania already passed legislation in preparedness for the ruling at Federal level. https://www.legalsportsreport.com/19993/penn-national-sports-betting-2018/

[nod] 24/5/2018 23:23

Brownie, the company SPO owned from 2000 to 2006 was BET Direct.
It was sold to 32red for 12.5 million in 2006. A profit of GBP 10 million for Sportech.

In 2005, BET Direct had approximately 440,000 registered customers, of whom 82,000 were active in the sportsbook and 11,000 in the casino and poker rooms.

BET Direct was developed as part of Sportech's ITV initiative to enable sports betting via TV. This was abandoned in 2006.

In 2000 Sportech also launched Bet247 an online-only sports betting brand.

There are many online articles about the 32red acquisition of BET Direct

[nod] 24/5/2018 12:14

Brownie, that's not correct. Sportech is the World leader in tote sports betting aka Pari-mutuel sports betting aka pools. Fixed odds sports betting does require different systems and importantly is much higher Risk and less predictable for the operator. The bookies sometimes get it badly wrong. Whereas tote is very safe for the operator, being a percentage of take. Sportech announced a few months ago that it has a partner for sports betting in the US and would announce this in H1-2018.Sportech announced today that Bump is growing well in the US.

[brownie69] 24/5/2018 09:15

Worth highlighting that SPO have no recent experience of sports betting. They have in the distant past owned a small UK sports betting business but it failed and was either closed down or sold for peanuts at the end.

Thus for sports they can be regarded as a start up relying on third party software providers. No IP other than regulation connections.

I'd expect them to be blown away from the big boys from the US and Europe.

I think we will see the big boys from both sides partnering up. My buy into the US sports betting play is William Hill. They own re IP in the form of tech and pricing feeds etc as a result of a couple of smart Nevada acquisitions a few years back. GVC another with US licensed operations and huge sports betting experience.

Best hope here for holders is that SPO gets bought.

[nod] 24/5/2018 08:10

Good AGM statement, includes:"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. 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."

[nod] 23/5/2018 21:49

VZ, the NY Times article wrote: "Proposed legislation would allow the two tribes, the Connecticut Lottery Corporation, and Sportech, which operates off-track betting parlors in the state, to offer sports betting."So, Sportech is one of four businesses proposed to be legalised in Connecticut for sports betting. That's a good step and certainly adds value to the company.My concern is that Sportech may not be in the proposals for the other States. It's likely that each State will put forward the local gambling operators and there is major lobbying to be included. While Sportech has licences in 37 States, it is not a big player outside Connecticut.When the tumbleweed settles, a big US player may take out Sportech for its established State gambling licences, which then gives the buyer a better chance of getting a sports betting licence in these States.

[nod] 23/5/2018 19:51

Sand Grove acquired another 2.5% the other day to take their holding to 13.6% - so, they are a believer.This holding was built up during the offer period so is likely related to someone who wants to buy Sportech. Registered in Cayman to conceal identity.

[van zandt] 23/5/2018 10:27

Hi all,

I really can't see £1.10-20. it would even on the short term very,very low.

when we consider how much trouble other companies are in not just because of the recent UK Gov. proposal on lowering betting limits [which I agree with].

so what limit can we divine for the existing and multiple prospective licences in the USA alone.
as ever regards
VZ