2020_11_betinvest.gif
2020_11_betinvest.gif
2020_11_betinvest.gif
CLOSE
× Gambling News In-Depth iGaming Calendar Connections GI Friday Trafficology GI Magazine GGA 2020 AffiliateCon
NEWS 19 March 2020

Sportech returns to marginal revenue growth for 2019

By Tim Poole

Sportech increased revenue by 2% year-on-year to £64.8m ($74.8m) for 2019.

However, the marginal annual growth was accompanied by a 5% reduction in adjusted EBITDA, to £9.3m.

Adjusted profit before tax from continuing operations also halved to £1m, during a year of transformation and adjustment for the company.

Accounting for the company’s sports betting investment, Sportech registered a statutory loss before tax from continuing operations of £8.4m.

While Sportech’s revenue may have only grown slightly, it was an improvement on 2018’s financial results, which showed a drop in both reported currency and constant currency.

Richard McGuire, appointed Sportech CEO last July, said: "We continue to progress our strategic agenda focused on driving further development of our group platforms following 2019 growth opportunity investments, while managing the inherent cost base.

"Despite the challenging retail environment and excluding some cost measures taken to reposition the group, our performance in 2019 has been as expected."

Sportech recently posted a market update on how the coronavirus pandemic is affecting business and CFO Tom Hearn will be speaking with Gambling Insider on this and the 2019 results later today.

RELATED TAGS: Financial | Sports Betting | Industry
2020_7_iovation.gif
GI FRIDAY: WEEKLY NEWSLETTER
THE GI HUDDLE PODCAST
NEW! #006 - LISTEN NOW
Gaming Industry Conferences (22:37)
#005 - LISTEN NOW
The role of gambling media (27:11)
#004 - LISTEN NOW
What is the role of a Gambling regulator? (29:09)
#003
The Future of Gambling Sponsorship in Sport (30:50)
MUST READ
IN-DEPTH 16 March 2020
Is there an ideal RTP rate?
READ MORE
PREMIUM CONNECTIONS
Systems and Software
Efbet
VIEW PROFILE
PR and Marketing
ActiveWins
VIEW PROFILE
Systems and Software
BBIN
VIEW PROFILE
Affiliate
1xPartners
VIEW PROFILE
Systems and Software
Newgioco Group
VIEW PROFILE
Payments
Zimpler
VIEW PROFILE
Legal and Jurisdictions
Digital Isle of Man
VIEW PROFILE
Systems and Software
BetConstruct
VIEW PROFILE
Industry Awards
Global Gaming Awards
VIEW PROFILE
Systems and Software
NSoft
VIEW PROFILE