International Commingling Contract

RNS Number : 9396J

Sportech PLC

17 April 2020

 

For immediate release

17 April 2020

Sportech PLC

('Sportech' or the 'Group')

International Commingling Contract

Sportech PLC (LSE: SPO), an international betting technology business, is pleased to announce the commencement of a multi-year international commingling agreement with UK Tote Group.

The international commingling agreement will enable UK Tote Group to utilise Sportech's worldwide Quantum™ commingling ecosystem to access horseracing and other sporting pools across the globe. Such access supports their international growth aspirations including the recently announced enhanced partnership with The Hong Kong Jockey Club.

In addition to the new international commingling agreement, Sportech formally handed over a proprietary digital platform on which Sportech has worked closely with UK Tote Group over the last year to jointly create and deliver. The new platform gives UK Tote Group cutting edge digital technology in a fully containerised, cloud-based solution to grow their online business. The new digital platform is directly connected to Sportech's worldwide commingling ecosystem, bringing a myriad of opportunities for the deployment of additional Tote products from international operators.

Richard McGuire, Chief Executive of Sportech, said: "Sportech has invested heavily to develop its Quantum™ global network and to improve the quality of its international business. The global market for pool betting is in excess of US$100 billion and UK Tote Group has an impressive team with ambitious plans. Sportech is delighted to extend its relationship with UK Tote Group to support their global initiatives."

Alex Frost, Chief Executive of UK Tote Group, said: "This agreement with Sportech demonstrates further commitment to our international development plans and a desire to see our pools betting operation lead the way in technological innovation to help grow betting on horseracing around the world."

- Ends -

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
Peel Hunt	Tel: [phone]
(Corporate Broker to Sportech) George Sellar / Andrew Clark / Will Bell
Buchanan	Tel: [phone]
(Financial PR adviser to Sportech) 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 90 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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