Sportech Share Discussion Threads

[brummy_git] 22/12/2021 11:12

Christopher Mills talks positively about Sportech (27:15) here.

www.linkedin.com/feed/update/urn:li:activity:6879354290515841026/

www.youtube.com/watch?v=cG7_82WZdmc&t=2135s

[nod] 15/11/2021 23:10

Griffiths has traded - he has been in and out. He's currently in, big time.I thought it was an advantage to understand companies really well over many years.

[finkie] 15/11/2021 13:14

RICHARD GRIFFITHS HAS TO BE A MORON BEING IN THESE FOR SO MUCH FOR SO LONG, THE SINGLY MOST DEPRESSING SHARE IN THE WHOLE MARKET......!!! haha!!!!

[nod] 13/11/2021 21:56

Richard Griffiths held around 10% some 171 days ago (in previous post)

[nod] 13/11/2021 21:53

Richard Griffiths now holds 28%

[nod] 12/11/2021 04:59

Sports Betting now live at six Sportech venues.

[nod] 07/11/2021 09:50

SPO is now live with sports betting at three of its Connecticut venues. The other seven venues will go live this month. Sports betting has been the holy grail for many years, and now it is here. I wondered what the fireworks were about.

[finkie] 05/11/2021 14:04

maybe Nod yes there does seem to be sector wide consolidation, hopefully 888 soon I also hold ENT and RNK the former is well known having had two approaches recently but i think someone may also come for RNK as it has some digital and a fairly solid physical casino structure too.

[nod] 30/10/2021 08:36

Me neither. Our CT venues and sports betting operations may be of interest to a larger USA company as an add-on.

[finkie] 20/10/2021 10:59

Anything occuring here? i didnt participate in the recent tender offer etc.....they need to be taken over sharpish now in my view!

[nod] 22/8/2021 03:17

I don't know VZ, it's very hard to forecast. SPO has sold its core business and put all its eggs in the CT basket.

[van zandt] 17/8/2021 21:59

Hi all,
As I understand the tender to offer 47% plus of one’s holding can be offered for sale back to Sportech or one’s whole holding may be bought by Sportech depending on shares offered or what they need to make-up their percentage of buy back.

My question/s is worth accepting the offer of 40P per share or may the PPS be considerably more after share buyback is completed in light of the recent deal in CT.

As ever
VZ

[nod] 14/8/2021 06:49

The service provider deal with Connecticut Lottery Corp (CLC) was always the most likely outcome of the lengthy negotiations and given that SPO is a UK-listed company (check my posts years ago). SPO acquired its current USA licences from USA company Scientific Games in 2010 - it was not easy, it took a very long time to be approved by US regulators. Once approved this gave us a foothold in the USA. Playtech had to withdraw as a partner for the deal to be approved.

SPO were unlikely to get a new licence for Sports Betting in CT when competing against the indigenous Tribes who demanded a monopoly in sports betting. We could however reasonably expect to extend our technology service agreement with state-owned CLC.

I don't have the benefits of the opportunity calculations from our company ... I would guess the recent Tote sales are to free-up cash to expand our Sports Betting in CT, including our Venues in CT (which we have continued to invest in recently).

Next step may be a NASDAQ listing.

[jabers1] 13/8/2021 07:25

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Sportech PLC Connecticut Sports Betting Update

13/08/2021 7:00am
UK Regulatory (RNS & others)

Sportech (LSE:SPO)
Intraday Stock Chart

Friday 13 August 2021
Click Here for more Sportech Charts.
TIDMSPO

RNS Number : 5214I

Sportech PLC

13 August 2021

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF EU REGULATION 596/2014 AS IT FORMS PART OF UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL)- ACT 2018

FOR IMMEDIATE RELEASE

13 August 2021

SPORTECH PLC

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

Connecticut Sports Betting Update

In May 2018, the US Supreme Court struck down the Professional and Amateur Sports Protection Act ("PASPA"), providing each US State with the option to introduce Sports Betting legislation. Since that time Sportech have been engaged in pursuing various opportunities and specifically a Sports Betting licence in Connecticut, where Sportech Venues Inc. have an exclusive pari-mutuel (tote) betting licence. In May 2021, the Connecticut General Assembly passed legislation to authorise sports betting in Connecticut. Governor Ned Lamont signed the Bill on 27 May 2021.

As previously announced, unfortunately Sportech was not awarded a sports betting licence. The Group considered two options: to legally challenge the decision or construct a mutually beneficial relationship with one of the three parties awarded a sports betting licence.

Sportech are today delighted to announce an exclusive 10-year commercial arrangement with the Connecticut Lottery Corporation ("CLC") which, subject to required regulatory consents, provides Sportech Venues Inc., in conjunction with CLC's sports book provider Rush Street Interactive (RSI), an ability to deliver Sports Betting across its retail estate and promotes CLC's online and mobile channel.

Rob Simmelkjaer, Chairman of CLC, said: "We are very excited to partner with Sportech to bring retail sports betting to all corners of the state of Connecticut. Their existing locations and licensed staff will allow us to get to market quickly with RSI's retail offering, and we look forward to working with them as we ramp up retail Sports Betting around the state."

Richard McGuire, Sportech CEO, added: "Our customers have been demanding Sports Betting for many years and we are delighted to be part of the CLC team, bringing our proven locations, expertise and licensed betting professionals to support CLC in delivering an exciting Sports Betting product across the retail network and promoting their online and mobile channel."

Sportech is scheduled to announce its interim results for the six months ended 30 June 2021 on Thursday, 9 September 2021 and the Group will provide a further update at that time.

[mcmather] 06/8/2021 14:25

finkie, it’s just the bit about their believing the company to be undervalued. If they simply spend £35m to purchase and reduce the shares in issue, how would that change matters from the company being undervalued? The closing price yesterday was 31.2p so 40p is ‘only’ a 28% improvement on that; ie that kind of disparity doesn’t ordinarily prompt such action as today’s RNS. Just scratching me head a bit. Was going to ponder further but I’m going for a pint instead.

[babbler] 06/8/2021 14:17

Not right now. NoBut once people get the money and price falls a bit for rest of shares it should do well likw #BRH did

[finkie] 06/8/2021 13:37

Mcmather I think the 34p price says this isnt quite the case only had a quick look but the offer is for 47% of the shares i think.....the market isnt saying fine youre now worth 40p share as otherwise we would be trading at 39.5p

[mcmather] 06/8/2021 12:12

Might be a daft question.

SPO appear to be valuing themselves at circa £75.5m; 188.752m shares in issue x £0.40. After this goes through, are they inferring that their M'cap / value will be around £40m (£75.5m minus the £35.5m cost to purchase the 88.75m shares)?

Or are they inferring that the value thereafter will still be around £75.5m (The Company believes its prevailing market share price does not reflect the intrinsic value of the business); ie each of the remaining 100m shares in issue then being worth £0.75, or 100% plus premium from here?

[typo56] 06/8/2021 10:05

"The Company believes its prevailing market share price does not reflect the intrinsic value of the business and that this is due, in part, to market factors including the Company's micro-cap size"

So their solution is to go from micro-cap size to barely half micro-cap size!

[cj91] 06/8/2021 08:55

davidosh - of course not everyone can sell all their shares. The company plans to buy back 47% of the entire issued shared capital which by any means is a huge buy back - certainly one I've never seen in the market previously. Instead of share buybacks or a special div, the intention of this capital reduction and offer of repurchase is precisely to narrow the value disparity.

FV of the business is worth a lot more, the Hardman research is worth reading in conjunction with progress this year. So IMO this should be close to 50p, which is a lot higher than the 20% people are talking about from current levels.

[davidosh] 06/8/2021 08:51

You are not guaranteed to sell ALL your holding at 40p though. So you are still dependent on what value the rump of your stake eventually can be sold for. This is certainly NOT a guaranteed 20% return in two months

[nod] 06/8/2021 08:49

I have no idea what the value of SPO would be after this tender offer and its various sales of business units. Is anyone able to calculate this?

[jabers1] 06/8/2021 08:46

This is a gift to make 20% return in 2 months.. everyone is sleeping

[cj91] 06/8/2021 08:31

That is my take as well. Can't believe mm's are mucking about at the low 30's. I'd be surprised if this finished below 40-42p today.