Award of Gaming License
Sportech PLC
20 September 2001
20 September 2001
Isle of Man awards first Online Gambling
Licence to Sportech Plc
* Isle of Man authorities select Littlewoods Leisure, owned by Sportech
plc, in its first ever award of online gambling licences
* Launch of Littlewoods branded online casino to follow in late October
2001 - 'Littlewoodscasino.com'
Sportech plc ('Sportech' or 'the Company'), owners of the Littlewoods Leisure
betting and gaming company, announces that it has been named by Isle of Man
authorities as one of the successful applicants for the island's first three
online gambling licences.
Today's announcement means that Sportech, which has plans to launch its
Littlewoods online casino later this autumn, will now operate the casino from
the Isle of Man. The online casino will complement Littlewoods's existing
online betting and gaming products, which include sports betting, online
lotteries (Littlewoods Prizebuster), and online games such as Premier10. The
Company also runs its famous Littlewoods football pools game over the
internet.
Sportech was one of only three companies, and the only UK company, to be
awarded a licence by the Isle of Man's Department of Home Affairs. The other
successful applicants have been named as MGM Mirage and Sun International. A
total of eleven companies from across the US, Europe and Africa, applied for
licences in the jurisdiction. The application process involved vigorous
financial and due diligence checks carried out by internal Isle of Man
agencies and external agencies including the police, Customs and Excise and
Data Protection.
Development of Sportech's online casino has already begun, and the Company has
signed up Canadian e-gaming software specialist, CryptoLogic, through an
agreement with its wholly owned subsidiary, WagerLogic, to provide specialist
Internet gaming software for its online casino offering.
Colin McGill, Managing Director, Sportech plc said:
'This is very good news for Sportech and another major step forward in our E
gaming strategy. The Littlewoods Leisure brand is synonymous with trust and
entertainment. This new online offering - Littlewoodscasino.com - will provide
our existing and new customers with further opportunities to enjoy the
Littlewoods gaming experience.
'The Isle of Man jurisdiction has an unrivalled global reputation for probity
and security, meaning that we can offer our customers the levels of assurance
they have come to expect from the Littlewoods name. The stringent checks
carried out by the Isle of Man authorities represent the strongest possible
endorsement of our Company's online offering.
'We are delighted also to be working with CryptoLogic to develop our exciting
new online casino. Our software provider of choice had to be of the same
calibre and after an extensive review of the marketplace, CryptoLogic emerged
as our first choice. They understand our strict requirements for a highly
customisable customer-oriented Internet casino that also complies with all
regulatory mandates and they have a proven track record for delivering the
highest standards for fun, safe Web entertainment.'
Jean Noelting, president and CEO of CryptoLogic said:
'Littlewoods' brand strength and enviable customer base, coupled with
CryptoLogic's superior gaming products, e-commerce services and recent
investment in world-class CRM technology will provide users with an e-gaming
experience of the highest quality.
'We are delighted that Sportech has been awarded one of the first online
gaming licences in the strictly-regulated jurisdiction of the Isle of Man.
CryptoLogic's significant compliance efforts in Australia will help Sportech
meet the Isle of Man's tough standards in a short timeframe, accelerating the
time to market for the online casino, in full compliance with legislative
requirements.'
Enquiries
Sportech 0151 525 3677
Peter Cuffe, E-Gaming Director
Bell Pottinger Financial 020 7353 9203
Rebecca Fox / Oliver Jones
CryptoLogic 001 416 545 1455
Nancy Chan-Palmateer
Notes to Editors
* Sportech plc is the holding company for Littlewoods Leisure, the UK
gaming company, acquired in September 2000. Sportech is developing the
Littlewoods gaming and leisure business, utilising new channels of
distribution to bring more games to more players, capitalising on the
strength of the Littlewoods brand, namely its association with the values
of trust and integrity.
* Littlewoods Leisure is one of UK's oldest established gaming companies,
providing football pools, sports betting and lotteries. Founded in 1923 as
Littlewoods Pools, the company has a regular playing customer base
covering 1.6 million households.
* The online casino will complement Sportech's existing internet betting
and gaming operation, betdirect.net and bet247.co.uk, which between them
have a registered customer base of over 40,000.
* For more information on Sportech, please visit our website at
www.sportech-plc.co.uk
* The online Gambling licence awarded today by the Isle of Man's
Department of Home Affairs runs initially for a period of five years and
is renewable beyond that date.
* Currently legislation prohibits the operation of online casinos from the
UK mainland. This legislation is under review as part of the government's
official Gambling Review.
* CryptoLogic Inc is a leading software supplier to the Internet gaming
and e-commerce industries. Its specialist technology enables secure, high
speed financial transactions over the Internet. WagerLogic, a wholly owned
subsidiary of CryptoLogic, is responsible for the licensing of its gaming
software and services to customers around the world.
* CryptoLogic is listed on the Toronto Stock Exchange (CRY) and on the
Nasdaq National Market (CRYP). For more information, visit
www.cryptologic.com and www.wagerlogic.com