Sportech Share Discussion Threads

[glawsiain] 05/2/2021 11:34

Influential Twitter investor glasshalffull has bought in today. Also Aston girl is a holder.

"
I’ve taken a maiden position in #SPO
Update indicates EBITDA in line & net cash ahead at £10.2m (fc. £8.8m cash) #SPO estimate disposals will net £36.1m in FY21 H1 ... this would equate to 24p/share vs. 28p/share price. So lottery & sports betting in Connecticut are in for free👇ㇿ5; [...] "

[dogmanager] 05/2/2021 08:51

Are shareholders being shortchanged?

[van zandt] 27/12/2020 11:07

Hi all & season’s greetings for 2021.

For some time I have not been here, nothing much moved I see.
Except I received missive dated 07 December 2020 14th. Immediately as instructed went to signallshares.com their site was pure .... ,phoned no one would answered the phone, managed after many permutations to leave an e/mail on their site “you will receive a reply with five days” to be reasonable they did not say which year within the 5days would apply.

While on there site, I did find a spelling error “Cast your proxy vote online” I discovered they had added an r in the word poxy, which is far too charitable for the service of Linkgroup, Capita, & signalshares provided. I’m still waiting for someone to get back to me, not that it matters now that I have lost my voting say.
The RSN said over 1/2m votes were withheld, my portion was through no fault of mine.

Good luck all here for the future.
As ever VZ

[trentendboy] 12/12/2020 20:07

Guess we just get a cash payout once this all goes throughLess than 40 would be annoying given my entry price but there have been some nice dividends along the way

[finkie] 07/12/2020 17:56

Just had email re extension to 17/12 at possible 32.5p offer board at the level are minded to share info with possible suitor. Just had quick look so dyor etc

[nod] 02/12/2020 07:57

Betmakers' view:

[nod] 02/12/2020 07:48

Betmaker BET has gone to the Australian market to raise funds for the agreed offer and working capital.

From the BET Capital Raising document (linked at end of this post):

The Sportech divisions will be acquired on a cash-free, debt free basis and includes Sportech’s:
• Tote business (USA, Latin America, UK and Europe) - which provides B2B hardware, software, support, race day controls and parimutuel pool interfacing and co-mingling to
racetracks, casinos and other venues;
• Americas Digital business - which provides white label B2B digital betting solutions to Advanced Deposit Wagering / Online Racing Bookmaker operators; and
• Tote software engine known as ‘Quantum’.

together the “Tote and Digital Business”.

The consideration payable by BetMakers for the Acquisition is $56.2m (being £30.9m) (Purchase Price).
2 The Acquisition is subject to approval by Sportech’s shareholders.
A meeting of Sportech’s shareholders is expected to occur on or around the week commencing 21 December 2020 (Meeting). Sportech’s Board has agreed to recommend that shareholders approve the Acquisition.

[jabers1] 02/12/2020 07:10

Seems like everything is being sold and it will be goodbye SPORTECH

[nod] 02/12/2020 04:28

TEB, tote is our "core business" (in SPO's words) but there is a small rake on tote and SPO is the technology provider to multiple tote operators, such as UK Tote.

It seems the whole global Tote operation is being sold - both horses and dogs.
I will need to look closely at the annual report to work out what's left in terms of revenue.
Are we in this the process of selling parts of the company piece by piece? in the absence of a buyer for the whole business.

[trentendboy] 01/12/2020 19:32

Not a great amount given the handleWhat are they playing at and wtf will be left at the end of these disposalsHmmmmm

[nod] 01/12/2020 08:55

Proposed disposal of the Global Tote businessFurther to its announcement yesterday, Sportech, an international betting technology business, is pleased to announce that it has entered into a conditional agreement to sell its Global Tote business to Betmakers Technology Group Ltd ("BetMakers") (the "Disposal"), for a total cash consideration of GBP30.9 million (the "Consideration"), subject to an adjustment to reflect the level of working capital in and the valuation of the US defined benefit pension liability attributable to the Global Tote business at completion of the Disposal ("Completion").The Global Tote business provides pari-mutuel technology solutions and services to gaming businesses around the world, predominantly to the global horseracing betting industry. Its systems processed approximately US$12.2 billion in betting handle in the financial year ended 31 December 2019 for clients across 37 countries.

[the white house] 30/11/2020 12:50

RNS : advanced talks for sale of Global Tote business

[nod] 22/11/2020 03:27

SPO can be more flexible when they don't own the building - plus it brings in some useful cash.
The sale may be a precursor to closure, if business does not pick up over the next six months. CT is managing Covid better than many States but racing is impacted everywhere in the USA.

New Zealand, Australia, Hong Kong and other racing is on. I hope they are having a flutter in CT.

[jabers1] 16/11/2020 07:06

Sportech PLC Sale of New Haven property

16/11/2020 7:00am
UK Regulatory (RNS & others)

TIDMSPO

RNS Number : 3507F

Sportech PLC

16 November 2020


For immediate release 16 November 2020

Sportech PLC

("Sportech", the "Group" or the "Company")

Sale of New Haven property

Sportech (LSE: SPO), an international betting technology business, is pleased to announce it has agreed the conditional sale (the "Sale") of its Sports Haven property in New Haven, Connecticut, USA (the "Property") to Criterion Group LLC (the "Buyer").

The Sale proceeds of US$6.75 million (GBP5.1 million) will be paid in cash on completion. Completion is subject to the Buyer concluding acceptable due diligence on the Property, which is anticipated to conclude towards the end of March 2021.

The consideration represents a premium to the 30 June 2020 balance sheet gross asset value of the Property of US$1.65 million (GBP1.2 million).

The proceeds from the Sale will create further investment capital for the Group's Connecticut business and further strengthen the Group's financial position. At completion, the Group will enter a six-month lease for use of the Property for a rent of US$0.30 million. In the year ending 31 December 2019, the Property contributed US$-0.5 million (GBP-0.4 million) to the Group's loss before tax.

The Sale constitutes a Class 2 transaction under the Financial Conduct Authority's Listing Rules.

Publication on website

A copy of this announcement is also available on the Group's website at www.sportechplc.com.

- Ends -

For further information, please contact:


Sportech PLC Tel: +44 (0) 117
Giles Vardey, Chairman 902 9000
Richard McGuire, Chief Executive Officer
Tom Hearne, Chief Financial Officer

Peel Hunt Tel: [phone]
8900
George Sellar / Andrew Clark


Buchanan Tel: [phone]
5000
Henry Harrison-Topham / Jamie Hooper [e-mail]

[nod] 09/11/2020 08:59

Welcome home Norman the Doorman. It's been nearly 15 years since you opened this conversation - January 2006. Sportech is a very different company today, aye?

I've been involved since Rodime in around 1998. After many years in court, Rodime eventually agreed a patent settlement with Seagate in 1999. That was an overnight 10-bagger for me. I had to buy lunch for my office colleagues.
With the Seagate payment, Sportech was born with the acquisition of Littlewoods Pools.

[finkie] 09/11/2020 06:24

Richard Griffiths has been here years often at much higher prices certainly since 2016. I wouldn’t read too much into the recent rns. Certainly market timing and this share don’t put him in buffets league that’s for sure.

[nod] 09/11/2020 01:50

Most analysts seem to be bullish on the stock market now the election is over (for everyone except Trump).

[nod] 06/11/2020 22:32

It explains Richard Griffiths recent buying up to 8%He often seems to get wind of bids.

[norman the doorman] 06/11/2020 13:16

looking for 45p for starters

[trentendboy] 06/11/2020 12:58

Well, it has just doubled in a month - not sure what sort of action you are looking for exactly