Sportech PLC US Supreme Court Ruling (0341O)
15 May 2018 - 2:52AM
UK Regulatory
TIDMSPO
RNS Number : 0341O
Sportech PLC
14 May 2018
For immediate release 14 May 2018
Sportech PLC
('Sportech' or the 'Group' or the 'Company')
US Supreme Court Ruling
Sportech, the international betting technology business,
welcomes today's US Supreme Court decision which effectively
permits each state to now adopt legislation to permit and regulate
sports betting.
As highlighted in recent announcements and publications,
Sportech is well positioned to act quickly and decisively in states
that pass legislation permitting sports betting in the wake of this
decision.
Sportech has over 600 employees across the US engaged in
providing secure, regulated betting platforms to 90 licensed
operator customers (racetrack, casino, off-track betting network,
and online betting operator) in 37 states. The Company will be
leveraging this broad presence to deliver sports betting services
to those customers.
In Connecticut, where Sportech owns and operates a network of
off-track betting facilities and a licensed online and mobile
betting service, the Company has been a proactive supporter of
legislation to regulate sports betting to combat the spread of
illegal activity and to protect consumers. The Company believes
that Connecticut will be an early adopter of a comprehensive and
rigorous regulatory framework for sports betting, under the
oversight of the Department of Consumer Protection, and Sportech is
prepared to act quickly to provide eligible Connecticut residents
with a platform for safe and legal sports betting through
Sportech's venues and digital platforms.
Andrew Gaughan, CEO of Sportech, said: "It is a very positive
decision and supports Sportech's initiatives, investment and focus
on US growth opportunities. We have over 600 staff already deployed
across the US providing gaming solutions to our business and retail
clients and while there is plenty of work ahead of us, we believe
we are well positioned."
- 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: +44 (0) 20
7268 2400
Andrew Gaughan, Chief Executive
Officer
Tom Hearne, Chief Financial
Officer
Peel Hunt Tel: +44 (0) 20
7418 8900
(Corporate Broker to Sportech)
Dan Webster / George Sellar
Buchanan Tel: +44 (0) 20
7466 5000
(Financial PR adviser to sportech@buchanan.uk.com
Sportech)
Henry Harrison-Topham / Mark
Court / Jamie Hooper
Notes to Editors:
About Sportech
Sportech PLC, listed on the London Stock Exchange, provides and
operates technology solutions for some of the world's best-known
gaming companies, sports teams, horse and greyhound racetracks, as
well as owning and operating its own gaming venues in Connecticut,
USA under exclusive licences.
The Group is the international betting technology business
focusing on highly regulated markets worldwide. It has more than
27,000 betting terminals deployed to over 400 clients, across 37
countries including those in the USA, where it operates under 35
licences, across 37 States and processes approximately US$12
billion of bets annually. The Group has invested over US$60 million
in developing its technology services to clients and the successful
expansion of its leading US gaming Venues in the last five years,
resulting in its proprietary Quantum(TM) product being the most
widely deployed pari-mutuel betting system globally.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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