Sportech agrees €3.25m sale of its Dutch business

Sportech Racing BV currently enjoys a monopoly over tote betting and horseracing gambling markets in Holland, with services available to bettors in 47 betting venues around the country and via the company’s website runnerz.nl.  Its current license was acquired in June 2017 and will last 5 years.

As part of the sale, Sportech will receive an initial upfront fee €2.8m ($3.42m) when the deal is closed and a further €450,000 ($550,000) during January 2019.

Commenting on the sale Andrew Gaughan, CEO of Sportech, said: “The Proposed Disposal represents an attractive opportunity to realise value following the successful licence extension and restructuring of the business by management as we increase focus on US growth opportunities.

“Sportech will continue to provide RBP, under a long term contract, its ongoing tote services and also has a strong working relationship with them focused on developing and selling their French racing pools into our vast footprint of global customers.”

The deal is pending finalisation and approval by local regulatorsand is expected to be complete before the end of 2018.

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Harrison Sayers

Gambling Writer

Harrison Sayers is a journalist and editorial professional specialising in the gambling and iGaming sector. He began his career at Gambling Insider, where he served first as Editorial Assistant (July 2017 – November 2017) and then as Staff Writer from March 2018 to October 2018, contributing news coverage and industry analysis to both the publication’s digital and print channels.

Since then, he has continued his career in gambling regulation and compliance journalism, working with GamblingCompliance and VIXIO where he covers regulatory issues and industry developments across European and African jurisdictions.

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