Contract extension with UK Tote Group

RNS Number : 6802A

Sportech PLC

01 October 2020

 

For immediate release

01 October 2020

SPORTECH PLC

('Sportech' or the 'Group')

Multi-year Licensing and Services Agreement

Sportech PLC (LSE: SPO), an international betting technology business, is pleased to announce the commencement of a new multi-year licensing and services contract with UK Tote Group ("the Tote"). 

The agreement assures continued delivery of pools betting technologies and services via Sportech's Quantum™ System, which underpins the Tote's domestic pools betting as well as international commingling for access to global horseracing and other sporting pools.  Quantum™ System is also the framework under which the Tote and its partners offer the international 'Tote Superpools' in coordination with the Hong Kong Jockey Club.

Richard McGuire, Chief Executive Officer of Sportech, said: " As announced at our Interim Results in September, extending client relationships is a key strategic initiative to help drive incremental growth at Sportech and we are delighted to extend our relationship with the Tote and solidify our work with their progressive team.  The Tote is setting incredible new standards of innovation in pools betting, both domestically and globally, and we will continue to provide the foundations on which they build."

Mark Kemp, Managing Director of UK Tote Group, said: "Sportech continues to provide stable, large scale global technology and software services, supporting the product innovation and development for our UK and International Tote growth plans. We are pleased to be continuing our relationship with Sportech and look forward to their ongoing excellent support of our mission, to innovate and grow pool betting across the world."

Publication on website

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

Contacts:

Sportech PLC	Tel: [phone]
Richard McGuire, Chief Executive Officer Tom Hearne, Chief Financial Officer
Peel Hunt (Corporate Broker to Sportech) George Sellar / Andrew Cl ark	Tel: [phone]
Buchanan (Financial PR adviser to Sportech)	Tel: [phone]
Henry Harrison-Topham / Mark Court / Jamie Hooper	[e-mail]

Notes to Editors:

About Sportech

Sportech PLC, an international betting technology business, delivers solutions and services for some of the world's best-known gaming companies, sports teams, racetracks, casinos and lottery clients as well as owning and operating its own gaming venues in Connecticut under exclusive licences.

The Group focuses on highly regulated markets worldwide. It has more than 29,000 betting terminals deployed to over 400 clients in 38 countries. Its global systems process US$12.3 billion in betting handle annually. In the US, it operates across 36 states. The Group has invested over US$60 million in the last five years in the successful expansion of its US gaming Venues, the diversification into raffle and lottery gaming platforms, and in developing its technology services, resulting in its proprietary Quantum™ System being the most widely deployed pari-mutuel betting system globally.

About UK Tote Group

UK Tote Group is the proud owner and steward of the Tote, the UK's leading pool betting operator.  The Tote has been a core part of British horseracing since 1928 when it was established by Parliament under Winston Churchill as Chancellor of the Exchequer, to provide the public with a safe way to bet and vital funding for the sport.

UK Tote Group is committed to fulfilling Churchill's founding mission through a revitalised Tote which provides better value and an improved experience to customers, as well as funding for British horseracing.

The 90-year-old British company is backed by racehorse owners and breeders from around the world and has an exclusive partnership with British racecourses to provide pool betting services to the six million people who attend race meetings in Great Britain every year.

The Tote employs 120 people who are based in the Tote's main office in Wigan and a satellite office in London.  www.uktotegroup.com

 

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