UK-based online and offline gaming company Sportech has announced its interim results for the previous six months showing that adjusted profits before tax from continuing operations increased by 50 percent to $15.25 million.
The London-based firm stated that its gross win revenues increased by 28 percent to $71.58 million while its net debt was reduced by $6.25 million to $162.93 million.
Sportech revealed that the integration of Vernons Pools, which was purchased in March from Ladbrokes for a rumoured $100 million, is ahead of schedule and the business is trading well, delivering operational and financial synergies that have exceeded management's initial forecasts. It also stated that it had signed a global marketing and distribution agreement with 888 Holdings to promote Sportech's football pools and other e-Gaming businesses to the customer bases of both firms in Britain and around the world.
'The board's strategy continues to be focused upon the revitalisation of our core football pools business so that we can use it as the platform to develop a market leading sport, leisure and gaming business with international reach,” said Ian Penrose, Chief Executive for Sportech.
“We have made very good progress during the period. The rebranding initiative for The New Football Pools is on schedule and we have developed new products and enhanced existing products. Importantly, having signed a deal with 888, we have the opportunity to deliver global marketing and distribution opportunities for both our football pools businesses as well as our other e-Gaming businesses.'
UK-based online and offline gaming company Sportech has announced its interim results for the previous six months showing that adjusted profits before tax from continuing operations increased by 50 percent to $15.25 million.
The London-based firm stated that its gross win revenues increased by 28 percent to $71.58 million while its net debt was reduced by $6.25 million to $162.93 million.
Sportech revealed that the integration of Vernons Pools, which was purchased in March from Ladbrokes for a rumoured $100 million, is ahead of schedule and the business is trading well, delivering operational and financial synergies that have exceeded management's initial forecasts. It also stated that it had signed a global marketing and distribution agreement with 888 Holdings to promote Sportech's football pools and other e-Gaming businesses to the customer bases of both firms in Britain and around the world.
'The board's strategy continues to be focused upon the revitalisation of our core football pools business so that we can use it as the platform to develop a market leading sport, leisure and gaming business with international reach,” said Ian Penrose, Chief Executive for Sportech.
“We have made very good progress during the period. The rebranding initiative for The New Football Pools is on schedule and we have developed new products and enhanced existing products. Importantly, having signed a deal with 888, we have the opportunity to deliver global marketing and distribution opportunities for both our football pools businesses as well as our other e-Gaming businesses.'