Published
Mergers & AcquisitionsSports Betting

Sportech agrees €3.25m sale of its Dutch business

Sports betting company Sportech has announced the intended sale of its Dutch based business Sportech Racing BV, to RBP Luxembourg for a fee of €3.25m ($3.97m).

sportech

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.

Premium+ Connections
Premium

Imagine Live

 
 
Premium

Galaxsys

 
Premium

GammaStack

 
Premium

Digitain

 
Premium

Sport Generate

 
Premium

Lynon

 
Premium

PIN-UP Partners

 
Premium

RISK

 
Premium

Revsharks

 
Premium

1xBet Partners

 
Premium Connections
Consultancy

SCCG Management

Executive Profiles
Zeal Network SE

Stefan Tweraser

VIP Play

Les Ottolenghi

Scientific Games

Keshav Pitani

Social & App

Spribe CEO exclusive: Simplicity is the foundation

Spribe CEO David Natroshvili speaks to Gambling Insider abou...

Redefining iGaming: A history of crash games

Crash games is a growing vertical that has taken gambling by...

A certain something: What makes crash games special?

Crash games. They’re simple, they’re easy to learn and,...

Smarter innovation to shape the future

Spribe CCO Giorgi Tsutskiridze discusses the past, present a...

Facing Facts: The corner of quarterly contemplation

With Q1 reports out across the industry, Gambling Insider co...

Taking Stock: A guide to key stock prices across the industry

Gambling Insider tracks prices from some of the industry’s...

15 years of Gambling Insider: From the Founders

Over the last 15 years, Gambling Insider magazine has interv...

15 years of Gambling Insider: The Awards over time

Global Gaming Awards Event Manager Mariya Savova gives us he...