Sportech PLC US Supreme Court Ruling (0341O)

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RNS Number : 0341O

Sportech PLC

14 May 2018

 
 For immediate release                                                  14 May 2018 
 

Sportech PLC

('Sportech' or the 'Group' or the 'Company')

US Supreme Court Ruling

Sportech, the international betting technology business, welcomes today's US Supreme Court decision which effectively permits each state to now adopt legislation to permit and regulate sports betting.

As highlighted in recent announcements and publications, Sportech is well positioned to act quickly and decisively in states that pass legislation permitting sports betting in the wake of this decision.

Sportech has over 600 employees across the US engaged in providing secure, regulated betting platforms to 90 licensed operator customers (racetrack, casino, off-track betting network, and online betting operator) in 37 states. The Company will be leveraging this broad presence to deliver sports betting services to those customers.

In Connecticut, where Sportech owns and operates a network of off-track betting facilities and a licensed online and mobile betting service, the Company has been a proactive supporter of legislation to regulate sports betting to combat the spread of illegal activity and to protect consumers. The Company believes that Connecticut will be an early adopter of a comprehensive and rigorous regulatory framework for sports betting, under the oversight of the Department of Consumer Protection, and Sportech is prepared to act quickly to provide eligible Connecticut residents with a platform for safe and legal sports betting through Sportech's venues and digital platforms.

Andrew Gaughan, CEO of Sportech, said: "It is a very positive decision and supports Sportech's initiatives, investment and focus on US growth opportunities. We have over 600 staff already deployed across the US providing gaming solutions to our business and retail clients and while there is plenty of work ahead of us, we believe we are well positioned."

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Publication on website

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

Contacts:

 
  Sportech PLC                              Tel: +44 (0) 20 
                                                  7268 2400 
 Andrew Gaughan, Chief Executive 
  Officer 
 Tom Hearne, Chief Financial 
  Officer 
 
 Peel Hunt                                  Tel: +44 (0) 20 
                                                  7418 8900 
 (Corporate Broker to Sportech) 
  Dan Webster / George Sellar 
 
  Buchanan                                  Tel: +44 (0) 20 
                                                  7466 5000 
 (Financial PR adviser to          [e-mail] 
  Sportech) 
  Henry Harrison-Topham / Mark 
  Court / Jamie Hooper 
 

Notes to Editors:

About Sportech

Sportech PLC, listed on the London Stock Exchange, provides and operates technology solutions for some of the world's best-known gaming companies, sports teams, horse and greyhound racetracks, as well as owning and operating its own gaming venues in Connecticut, USA under exclusive licences.

The Group is the international betting technology business focusing on highly regulated markets worldwide. It has more than 27,000 betting terminals deployed to over 400 clients, across 37 countries including those in the USA, where it operates under 35 licences, across 37 States and processes approximately US$12 billion of bets annually. The Group has invested over US$60 million in developing its technology services to clients and the successful expansion of its leading US gaming Venues in the last five years, resulting in its proprietary Quantum(TM) product being the most widely deployed pari-mutuel betting system globally.

This information is provided by RNS

The company news service from the London Stock Exchange

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May 14, 2018 12:52 ET (16:52 GMT)