Sportech Share Discussion Threads

[nod] 01/3/2020 06:32

WFSB - Face The StateInterview with Ted Taylor, President of Sportech Venues, who is the man in the middle of the CT sports betting debate. https://www.youtube.com/watch?v=RdRzwPFAv_4

[nod] 01/3/2020 05:30

This one slipped under the radar.https://www.sbcnews.co.uk/europe/2020/02/12/irish-greyhound-board-orders-sportech-tote-upgrade/ 12 February 2020Irish Greyhound Board (IGB) upgrades all its tracks to the Sportech Quantum system, in a multi-year deal. IGB said: "Sportech have been an excellent technology partner to IGB for many years and we look forward to a continued productive relationship."Further developments will see Sportech's Racing and Digital team develop tailored products and features for Irish greyhound racing to optimise its operations and customer engagements."

[nod] 22/2/2020 21:22

Be careful with nicelilyishere link - it was spammed across ADVFN boards, so obviously not related to SPO.

[nod] 22/2/2020 21:06

Nice pics of the next-gen technology on display at the show. http://www.sportechplc.com/news/

[nod] 22/2/2020 20:51

Re onionMike's comment. The new CEO, Richard McGuire, was appointed 7 months ago (July 2019). He was original a NED and then became Executive Chairman while SPO was up for sale. SPO consolidated all accounting functions to Connecticut. There is no "inner team" in Britain. SPO is still listed in Britain and some of the part-time independent directors are in Britain. They are non-Executive directors. In my experience, NEDs are never seen by management even when everyone is in one building.July 2019 new CEO:"To support the US business strategy, he relocated earlier this year to Connecticut, where the Group's US headquarters are situated. He also invests significant time in the Group's UK, European and Asian interests."

[nod] 21/2/2020 11:40

Sportech Showcases New Tech at Asian Racing Conferencehttps://www.prnewswire.co.uk/news-releases/sportech-showcases-new-tech-at-asian-racing-conference-820675166.html

[nod] 20/2/2020 22:08

A tiny bit of trading activity today. The encouraging takeaways from the new sports betting Bill tabled in Connecticut is that the legislature has simplified it and Sportech is a proposed operator alongside the Tribes. The State could have given in at this stage and allowed the Tribes exclusivity to sports betting. The State doesn't want a monopoly on sports betting. The Tribes already have the State casinos, which will give them a significant slice of sports betting revenues.While there is an impasse everybody loses, as Connecticut wagers are going to neighbouring states. Not just sports bets either.

[van zandt] 20/2/2020 17:58

Hi all,
The paint must have dried when I nodded off.
No need for high energy drinks to keep up with sporting Sportech.

onionMike, To sign up just for one post would seem a display of dedication above and beyond.
A hint maybe of a material source could give you some cred's.
as ever regards
VZ

[trentendboy] 20/2/2020 06:43

Nice article - can believe it

[onionmike] 20/2/2020 06:28

The Group will be announcing its FY 2019 Final Results on Thursday, 19 March 2020.
Richard McGuire, Chief Executive Officer of Sportech, said: "Sportech now has a management team in place to transform the business to drive growth and efficiencies. We have extricated the Group from a number of historically expensive strategies, delivered an efficient and lower operational cost base, and we are now much more confident in the Group's ability to deliver significant value to our clients and shareholders."

The Board's continued emphasis on challenging every aspect of the business to deliver a more appropriate operational cost base has helped offset the high fixed costs of the Venues business, which the Group is addressing with a variety of initiatives. Meanwhile, the Group's other business units, including Racing and Digital, Bump 50:50 and Lottery, are anticipated to demonstrate net contribution growth in FY 2019.
I have friends who previously worked for this company and they do not understand why the shareholders are not asking for answers on the current performance.

Rumours from within the industry state that the management in the states and elsewhere around the globe rarely see or hear from the CEO or his inner team and that his new team are not respected.
There is a feeling that they are only focussed on selling key assets and have no strategy to grow and could even try and take the company private.

Lombard and Harwood Capital who have over 40% will start asking questions soon.

[nod] 20/2/2020 02:52

A cut-down Bill was presented a few hours ago in Connecticut.
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Published February 19. 2020 4:15PM | Updated February 19. 2020 8:59PM
By Brian Hallenbeck Day staff writer
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A General Assembly committee has introduced a bill that would allow the Mashantucket Pequot and Mohegan tribes, the state’s off-track betting operator and the Connecticut Lottery Corp. to conduct sports wagering.
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Extracts referring to Sportech: ...
The bill would allow the state’s OTB operator, Sportech Venues; MMCT Venture, the Mashantucket-Mohegan partnership formed to pursue an authorized East Windsor casino; and the lottery to submit applications for a sports wagering operator license that would need to be renewed every five years. Applicants would pay $100,000 to apply for and to renew a license. Those awarded a license would pay a $750,000 licensing fee. The lottery would be exempt from the fees.
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Sportech Venues would be allowed to conduct sports wagering online and in person at any of its authorized locations and at one entertainment zone facility approved by the commissioner. Sportech currently operates 15 locations around the state.
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Full article

[finkie] 11/2/2020 13:35

Hills news have any bearing here, didnt expect the price to move but shows movement in these american markets.......

[nod] 04/2/2020 23:03

Finkie, a lot has changed since those days, except the share price haha. In fairness, shareholders have had large cash payouts from the sales of Pools and from the big VAT win. Our British cash cow has been sold, and we are now a US-based business. We are not into online poker any more but are into online bingo, a niche which has been growing. Our main business is tote track-side for horse-racing and greyhound tracks, plus via our off-site Venues: sports bars in Connecticut.A sports betting licence will be along shortly.

[finkie] 03/2/2020 10:07

pylon22 Oct '04 - 21:11 - 2 of 7
0 0 0
Here's a link to a site listing what it condiders to be the top ten "online poker sites":

hxxp://www.cheap.org/online-poker.php
pylon22 Oct '04 - 21:15 - 3 of 7
0 0 0
Here's another:

hxxp://www.poker-uk.com/online_casino_links/online_casino_links5.php
maestro.22 Oct '04 - 21:20 - 4 of 7
0 0 0
might see a bid monday...
maestro.11 Feb '05 - 10:00 - 5 of 7
0 0 0
might still happen ;-)
TT2OO511 Jun '05 - 02:56 - 6 of 7
0 0 0
Sportech//hmmm. somewhat interesting.
bobby.ifa11 Jun '05 - 10:29 - 7 of 7
0 0 0
There could be some mileage in this. SPO have poor direction at the moment with the absence of a CEO could be subject to abid or under preesure from institutional holders to rstore some value in the old share price The level of debt may put a suitor off.

16 years ago!!!!!!!!!! zzzzzzzzzz

[trentendboy] 02/2/2020 11:23

I agree but Tote is a nice add on to existing operationsGVC obvious buyers but might not want the physicalStill seems too low for the share price but trading in a very narrow range

[nod] 02/2/2020 08:55

I suspect Lombard Odier has a buyer lined up should Connecticut legislation be sorted and include Sportech. It's quite a big bet and they have been adding to their holding over the past year, which suggests they are confident.

SPO's Tote business underpins the share price, but US betting companies are no longer interested in tote - they have bigger fish to fry.

[trentendboy] 02/2/2020 07:56

That is a large position to take ... stakE building for something.

[nod] 01/2/2020 19:59

Lombard Odier now hold over 25% This is worth around 15 million gbp at today's price.

[trentendboy] 01/1/2020 16:32

All sounds so positive when you read that. Odd to see such a lack of share price action as the US opensHmmm, tempting to cycle some funds here but GAN and GVC still got more upward visibility

[nod] 01/1/2020 00:58

A happy and prosperous 2020 for long-suffering SPO shareholders. We need a break in Connecticut. Hopefully the deadlock will end in H1. The tribes and the State are losing a lot of betting revenue to neighbouring states. A reminder of who we are. "The Group focuses on highly regulated markets worldwide. It has more than 27,000 betting terminals deployed to over 400 clients in 37 countries. Its global systems process nearly US$12 billion in betting handle annually. In the US, it operates under 35 licences across 37 states. The Group has invested over US$60 million in the last five years in the successful expansion of its US gaming Venues and in developing its technology services, resulting in its proprietary Quantum(TM) System being the most widely deployed pari-mutuel betting system globally."

[jabers] 03/12/2019 08:22

Will be interesting to see what this companies burn rate of cash is and also if this new team has increased revenues.

I hope they aren’t just burning cash, no business survives by selling assets or reducing costs unless they also increase revenues!!

[nod] 02/12/2019 22:03

19 States have passed legislation with 13 now up and running. Sadly for us, Connecticut is not one of them. Gambling revenue in CT is declining as CT residents spend on sports betting over the border."At the moment, 13 states have legal, regulated sports betting industries, according to Legal Sports Report. Those include Nevada, Delaware, New Jersey, Mississippi, West Virginia, Pennsylvania, Rhode Island, Arkansas, New York, Iowa and Indiana. Tribes in New Mexico and Oregon are offering sports betting. Another six states have passed legalizing legislation and are waiting for the games to begin. Those are Illinois, Maine, Montana, New Hampshire, North Carolina and Tennessee."https://www.holmesreport.com/latest/article/the-emergence-of-sports-betting

[trentendboy] 02/12/2019 21:30

I think a management change is due They have an excellent US start but risk blowing itNeed a US partner for online