Sportech Share Discussion Threads

[oohrogerpalmer] 18/3/2019 07:33

40p, considering were almost there now then peel hunt can be satisfied that they have achieved another target!!!!!

[nod] 18/3/2019 04:02

14 March 2019, 08:30 Source - SMW (Shares Mag)
Peel Hunt today reaffirms its hold investment rating on Sportech PLC (LON:SPO) and cut its price target to 40p (from 53p).

[nod] 14/3/2019 23:47

Sportech: Pure Play On The Sports Betting Revolution
Mar. 13, 2019 11:00 AM ET
Seeking Alpha

* Sportech has the pole position for one of 3-4 licenses issued, at quite favorable terms (i.e. tax rate and license fees).

* Sportech's stock has corrected 50% in the last year on uncertainty around the legalization. Now their positioning is prime and largely ignored.

* Sportech could easily triple within a year and then become a consistent market outperformer as they are recognized as a core holding in the sports betting vertical.

Seven pages...


Conclusion Quite Simple = Sportech Dramatically Undervalued

[nod] 14/3/2019 23:42

Pointed questions for Sportech, tribes
The Connecticut Lottery, NBA, potential vendors and operators, tribal representatives, several gambling addiction groups, convenience store owners, and two men who are recovered gambling addicts all weighed in.

The most contentious part of the hearing was when representatives from Sportech, a Connecticut-based operator that is currently the exclusive licensee for Connecticut off-track betting, and George Henningsen, Chair, Tribal Gaming Commission, Foxwoods Resort Casino testified.

Representative Craig Fishbein (R-District 89) peppered Rich Pingel, Sportech’s chief legal officer, with questions ...

[nod] 13/3/2019 00:43

Five key takeaways from Tuesday’s public safety committee hearings on sports betting
Alex Putterman
HARTFORD COURANT |
MAR 12, 2019

[towards the end of the article] ...
Ted Taylor, president of Sportech (which operates Connecticut’s 16 off-track betting locations), pointed to the start of the 2019 NFL season as a possible target.

Taylor said once sports betting was legalized, Sportech would need at least three months to establish the infrastructure for sports betting before it could begin taking wagers.

[the season starts on September 5, 2019]

[nod] 12/3/2019 18:34

Plus a web site lobbying for Sportech to be a State partner for sports betting, as it has been with racing for 25 years.https://sportsbettingforct.com/

[marketing101] 12/3/2019 17:34

Just been on the Sportech website and came across their "news" area, some interesting company stories/achievements, kept well up to date too ... hxxp://www.sportechplc.com/category/news/

[nod] 11/3/2019 10:32

Sportech has focused on Connecticut where it is hoping to benefit from its existing sports venues. Public discussions resume on Tuesday. The sticking point is the two Tribes claiming exclusivity on sports betting and is holding up the passing of a bill."The legislature's Public Safety and Security Committee, which two weeks ago took some 10 hours of testimony on casino-expansion and sports-betting bills, will be all ears once again Tuesday at a session scheduled to start at 11 a.m. in Room 2A of the Legislative Office Building."https://www.theday.com/local-news/20190310/panel-schedules-more-debate-on-sports-betting-other-gaming-legislation

[oohrogerpalmer] 11/3/2019 08:22

Hopefully a bit of a run up to results, be interesting to see how the States is shaping up.

[nod] 01/3/2019 03:18

Sports Betting Front and Center in Connecticut

Extract referencing Sportech:

It is still believed in the State Capitol that a similar arrangement would be passed by lawmakers, allowing for tribes, off-track betting operators, and possibly the Connecticut Lottery to be part of a sports wagering program.

It’s been part of the restaurant sports bar culture for 40 years.

“We do the hospitality end of it, we do the betting end of it and it works fine,” said longtime baseball manager Bobby Valentine, who is a partner with Sportech Ventures, and offers his name to a pair of restaurants in Stamford and Windsor Locks. “Since 1993, Sportech’s been operating OTB without an incident. They’ve paid their taxes and they’ve employed their people and it’s a no brainer kind of to have the brick and mortar part of sports betting go to the Sportech Ventures.”

A brief NBC video makes mention of the three bills submitted.

[nod] 26/2/2019 00:13

Sportech PLC (LSE: SPO), the international betting technology business, will announce its preliminary results for the year ended 31 December 2018 on Thursday, 21 March 2019.An analyst briefing will be given by the executive management team at 09.30hrs on Thursday, 21 March 2019 at the offices of Buchanan, 107 Cheapside, London, EC2V 6DN.

[nod] 17/2/2019 21:13

The new Governor of Connecticut is focused on getting sports betting legislation passed. The tribal casinos have stalled the process allowing neighbouring states, including Rhode Island, to overtake them, in particular with mobile betting.

"The first step toward authorizing Connecticut sports betting is the governor renegotiating compacts with the tribes that include it.

During his campaign, Gov. Ned Lamont indicated that authorizing sports betting would be a priority, and revenue could be used to cut property taxes."

[nod] 15/2/2019 19:34

Lombard Odier increased its holding in December to 17.45%

[nod] 15/2/2019 19:30

Harwood Capital continues to increase its holding. Now over 14% .... was 12.3% in October.

[nod] 14/2/2019 08:24

Online gambling and entertainment firm Sportech claims it will be ready for business as and when the state of Connecticut regulates to legalize sports wagering. The firm said it has been working to communicate its position on the introduction of a common-sense framework for legal, regulated sports betting in Connecticut to combat current illegal activity and provide consumer protections while also delivering tax dollars to the state.

It added that its venues across the state are spreading the word about the opportunity for sports betting as state lawmakers take up consideration of laws to regulate sports wagering during the current legislative session.

With a campaign that launched in early February, the firm is aiming to ensure that patrons at its Winners, MyWinners.com, and Bobby V’s Restaurant & Sports Bar venues understand that the legalization and regulation of sports betting is under consideration in Connecticut and that Sportech will be ready to take action as and when it occurs.

Said the company: “States surrounding Connecticut are legalizing and regulating sports betting, now. Sportech’s 400+ Connecticut-based employees have been delivering legal, regulated betting in the State for decades and they are ready to offer consumers a safe, legal, and regulated sports betting experience. Connecticut must act to keep gaming revenue and jobs in the state and can rely on Sportech to apply its decades of Connecticut betting experience, facilities, and licensing to make it happen.”

According to company, the estimated size of annual ‘black market’ sports betting currently conducted in Connecticut stands at $12.3m.

[van zandt] 08/2/2019 16:30

Nod,
I agree with you it would have indeed been 'ethical' but as you know well when have our employees the directors ever, ever had the interest of the small shareholder in mind? A set-up? I couldn't possibly say so. As they know full well that Companies House is only a receiving and recording service with few and little powers of investigation and starved the funds to do so?!
as ever
VZ

[nod] 04/2/2019 11:04

VZ, thanks for the comments. It does seem a little dangerous for the initial RNS not to declare that there is a connection - a related party transaction. There are thresholds for related party transaction notifications to become compulsory and a 5% holding may fall under the threshold (I thought the threshold was around 5%). Regardless of the compulsory rule, it would have been ethical and up-front to include this fact in the initial RNS. He has to disclose now it under share ownership rules. Maybe they didn't think it through.Re Companies House only official Directors are named, so we can assume he was not an official Director.

[van zandt] 03/2/2019 18:32

Nod,
You can maybe forgive a man who is a director of 18 companies of forgetting which companies he may have a share holding in. On November 16th 2018 I wrote:

“How very interesting to enter into such negotiations by Sportech and who exactly in company terms are we dealing with? In dealing with LOT.TO SYSTEMS LIMITED are we then dealing only with LOT.TO SYSTEMS LIMITED, or INTERNATIONAL TURF CLUB LIMITED, ASIAN RACING MEDIA LIMITED, PLAYLOT.TO LIMITED and then of course there is Timeweave Gaming Limited; Timeweave Limited and maybe some of the above companies have been able to get their own Bank Account?

Like Sportech some of the above companies have seen their fair share of resignations in recent years. Who will Mr. A. J. Lindley be joining next?
Then again maybe we could all be on the television seen running around after something or other.”

My view remains the same that it is not at all clear who we are dealing with within the labyrinths of different persons involved and worldwide interconnections of the same persons. As for LOT.TO SYSTEMS LIMITED they do not list nor does Richard McGuire, list himself nor do they say he is one of the four persons at Companies House with a major say or shareholding in LOT.TO SYSTEMS LIMITED. Take your time and follow through on the interconnection of all those persons.
Yet it is now declared he owns 5% of that company and will ‘receive 100,000 Consideration Shares upon Admission.’ But we are not told what the shares are, in cash, with voting rights’ without voting rights?
As for saying the “acquisition is non-material in the context of the Group.” What a wonderful creativity in language, 2million new shares to be admitted but no effect, the director deals and trades with himself and just ‘forgets’; to mention it. So hopefully what I was getting at last November is now a little clearer. It may be worth a referral to the powers that be.
As ever best regards
VZ

[nod] 02/2/2019 12:15

VZ, what's your thought on the initial non-disclosure that our Chairman was a shareholder in the company to be acquired? This was only disclosed AFTER completion, which I don't feel is the appropriate protocol for a listed company.Although only 5% ownership was declared, there is likely to be a personal connection with the other owners given that it's a very small private business.

[nod] 01/2/2019 21:15

The LOT.TO acquisition is complete. Our Chairman is a minor shareholder of LOT.TO with 5% so obviously knows it well.Payment is via a placing of 2 million SPO shares, so a cost of around 700,000 GBP. "The consideration will be satisfied by way of issuance of two million new Sportech ordinary shares of 20p each to the vendors (the 'Consideration Shares'). Applications have been made to the UK Listing Authority ('UKLA') and London Stock Exchange plc for the Consideration Shares to be admitted to the Official List of the UKLA and to trading on London Stock Exchange plc's main market for listed securities ('Admission') and Admission is expected to occur on 7 February 2019. The vendors are subject to a three-year lock-up arrangement in respect of their Consideration Shares (subject to certain customary exceptions), effective from today's date. Richard McGuire, Executive Chairman of Sportech, is one of the vendors (holding five per cent. of the issued share capital of LOT.TO) and will receive 100,000 Consideration Shares upon Admission.

[nod] 18/1/2019 09:30

(WTNH) - Connecticut residents bet about $150 million a year on horse and dog racing and jai alai games displayed on big screens at Off Track Betting facilities around the state.
About 3.5% of those total wagers goes to the state and to the municipality were the OTB is located. The largest are in Windsor Locks, New Haven and Stamford.
...
There are 16 OTBs scattered around the state owned and operated by Great Britain-based Sportech. Their local base of operations is in New Haven.
...
They are also great meeting places for people following all other sports and it is widely known that people are already betting on other sporting events. 
"I could sit here now and, if I was bright enough, I could set up an online account with somebody in Costa Rica. Not allowed to do that but I could do it quite quickly and the state's making no money from that," said Ted Taylor of Sportech, Inc.
...
Sportech makes a strong argument that, because of the exisiting security and technology they've already invested in these tightly regulated facilities, they are the logical place for legal sports betting in Connecticut. Taylor added, "It brings something that's already happening illegally into that legal framework and quite quickly alalows the state to start driving tax revenues."
...
And Sportech is not pushing for exclusivity on sports betting.
Taylor said he believes that state's two Native American-operated casinos should be doing the same thing.
He said, "Because we believe that there's up to $600 million worth of illegal sports betting in the state right now, there is money that would be beneficial to the state."
....

[nod] 04/1/2019 02:25

Group has cash of GBP12.5 million at 30 June 2018, and no bank debt. In July the Group received GBP2.5 million on the closing of the Sportech Racing BV sale.

They are investing a few million in Sports Betting.
EBITDA growth forecast was revised down 5% on 7th November to a growth rate of between 14% - 20%
There should be progress on broader Sports Betting in Connecticut early this year. SPO already has horse-racing and off-site venues.

[avsome1968] 03/1/2019 21:02

thinking of taking a stake here what cash position please do they have to this day thank you

[nod] 03/1/2019 19:38

Positive to see both Harwood and Lombard Odier increasing their holdings in recent weeks. They now own over 30% of the company between them. As major shareholders they will be keeping a close eye on SPO. They must like what they see and believe it is undervalued.

[van zandt] 29/11/2018 15:18

nod , I presume it is ‘immaterial217; 1. because it would not have been wise to risk a further push down on the share price due previous RSN’s warning. 2. It was sloppy language construction. 3. The RSN had to be rushed due someone was about to speak before things were ready!
If you look at companies house UK and follow through the personnel and their involvement with the companies I cited in my previous post we can see where the strategic connection is/would be for the future of Sportech as a host or supplier for LOT.To platform . Not forgetting that companies house is only a recording service as it neither has the money or staff to verify what is submitted. Mr. A. J. Lindley being part of the link to the companies I mentioned and addresses.
Also as I believe it will be useful if and when Sportech move their address.
As ever,
VZ