Sportech Announces Joint Venture with Picklive

RNS Number : 1705P

Sportech PLC

30 September 2013

 



30 September 2013

Sportech PLC ("Sportech") and Picklive Limited ("Picklive")

Announce US Daily Fantasy Sports Joint Venture

Sportech PLC, one of the world's leading operators and suppliers of pools and tote gaming, and Picklive, the makers of the world's first live fantasy sports game are pleased to announce a joint venture to launch Picklive USA. Picklive USA is an innovative new gaming product targeting the rapidly growing U.S. fantasy sports market, worth an estimated $2 billion, through a combination of daily fantasy sports, social gaming and in-play entertainment.

Picklive USA will be distributed nationwide and will leverage Sportech's extensive reach in the U.S., where it currently processes 50% of all horseracing bets. The new fantasy games will extend Sportech's product offering beyond horseracing to a vast sports market, including U.S. professional-league football, baseball, basketball, hockey, and soccer. Picklive will be accessible to Sportech's existing customer base in Connecticut as well as to its B2B customers through eBet, Sportech's U.S. online division, which operates over 20 horserace betting websites.

The new fantasy games will be launched next year in Connecticut following the commercial launch of MyWinners.com, Connecticut's only legal online betting, which is expected before the end of this year. Further distribution opportunities will be made available by utilising Sportech's customer base across the United States.

Research carried out by the Fantasy Sports Trade Association in 2013 estimated that 33.5 million adults play fantasy sports games in the US, in an industry worth over $2 billion, with daily fantasy sports taking a rapidly increasing share of the overall market. Sportech sees the opportunity to bring the "social" experience into the fantasy sports space, and aims for Picklive USA to be the ultimate second-screen entertainment and social experience during live sport.

Commenting on the joint venture, Ian Penrose, Sportech CEO said:

"This transaction further develops our increasing online presence in the rapidly growing U.S. market. With Sportech's strong heritage in sports gaming and strong relationship base, the daily fantasy sports market is a natural potential growth area for us, and I am excited by Picklive USA's potential to become a major player in this space."

Commenting on Picklive USA, David Galan, CEO of Picklive said:

"We are delighted to be partnering with Sportech given its unique position as a major operator in the highly regulated and rapidly changing U.S. gaming market.  Picklive has already enjoyed great success in the UK and this opportunity allows us to bring product innovation and the 'social' element into the daily fantasy sports space in the U.S. and become a primary second-screen entertainment destination and social experience to accompany live sport."

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For further information, please contact:

Sportech PLC                                                                         020 7268 2400

Ian Penrose, Chief Executive

Brunswick Group LLP                                                           020 7404 5959

Mike Smith, Tom Williams                                                         [e-mail]

Picklive                                                                                   07866 448804

David Galan, Chief Executive Officer

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Editors Notes

About Sportech PLC

Sportech PLC is a sports gaming and entertainment company and one of the world's leading pool betting organizations, focusing on highly regulated markets worldwide.  Sportech provides betting technology for football (soccer), horseracing and greyhounds, processing over $13 billion in bets annually with a presence in 30 countries.  Sportech also has a developing e-Gaming business.  Sportech is headquartered in London, England with operational offices in Liverpool, England, Atlanta, Connecticut, California, New Jersey, Netherlands, Germany and Ireland.  For more information about Sportech PLC, please visit www.sportechplc.com. 

Picklive Limited (www.picklive.com ) (www.pickliveusa.com)

Picklive was founded in 2010 and acquired by businessmen David Galan and Kfir Kugler in 2012 and is headquartered in London and Tel Aviv, operated by a management team with a background in online gaming and sports betting products. The business is an innovative real-time fantasy sports game which turns the 'season long' fantasy football model on its head by creating a fusion of fantasy football with social gaming and inplay entertainment. In the traditional model of fantasy football, players pay an entry fee at the beginning of the season and interest often dies out quickly, with Picklive games the fantasy football season is reduced to just one game. Picklive has won several awards for its innovative product and technology including Best Betting Operator of the Year 2013 in the Totally Gaming Awards. Picklive Limited is licensed and regulated by the Gambling Commission. License Number: 000-026124-R-308060-001.

 

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