Sportech PLC
07 January 2004
Sportech PLC
Pre-Close Statement
Sportech PLC ('Sportech' or 'the Company'), owner of Littlewoods Gaming, the
UK's leading home gaming company, today issues the following pre-close statement
relating to the financial year ended 31 December 2003.
ITV Interactive Gaming Progress
Sportech is pleased to announce that its interactive customer account
registration technology, developed for the ITV interactive service, has passed
testing and is now available to over 7m households, enabling ITV interactive
viewers to register their details and deposit funds with Littlewoods Gaming.
Two games are now available on the ITVi service, one of which is a scratchcard
style game offering instant win prizes of up to £100,000. Further games are
expected to be introduced on the service, ahead of the official commencement of
Sportech's long-term contract with ITV in March 2004.
Betting
Betting revenues from Littlewoods Bet Direct, Sportech's sports betting
operation have continued to grow across telephone and internet, and margins have
also improved in the second half of the year. However, whilst trading results
from this part of the business will show an improved performance over the first
half of the year, they are expected to fall short of market expectations. This
is due to development costs associated with the new interactive television
distribution channels and a continued poor run of horse racing results,
particularly affecting internet betting.
In late November Bet Direct extended its distribution reach, via television,
with the launch of a full sportsbook betting service on Sky Active, available to
over 7m households. Sportech also plans to add fixed-odds games to this
distribution channel in Spring 2004.
Soft Gaming
Sportech's soft gaming operation, which includes football pools, scratchcards,
lottery and instant win games and on-line casino games, and accounts for the
majority of Sportech's profits, is trading in line with market expectations.
- Ends -
Further information:
Sportech PLC
Suzanne Judge, Head of Corporate Communication - 0151 288 3059
Bell Pottinger Financial
Jonathon Brill / Charles Reynolds - 0207 861 3232
Editors Notes:
Sportech PLC provides a variety of betting and gaming opportunities to over 1.7m
customers through Littlewoods Gaming, the UK's leading home gaming company.
Sportech is developing Littlewoods Gaming through the utilisation of new
channels of distribution to bring more games to more players in the home,
capitalising on the strengths of the well-known and trusted Littlewoods brand.
The Littlewoods Gaming portfolio of products includes: football pools and
football games, sports betting, charity lotteries and casino and entertainment
games. Products are available on-line, on interactive television, via telephone,
post, and a UK network of collectors who visit customers in their homes.
Sportech PLC is listed on the London Stock Exchange. For more information, visit
www.sportechplc.com.
This information is provided by RNS
The company news service from the London Stock Exchange
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