London-listed betting technology provider Sportech said that it is making progress on implementing a strategy to drive longer term profitability, with 2019 trading in line with expectations.

Sportech's Quantum Tote software recorded a successful Kentucky Derby day earlier this month when processing almost 100m betting transactions via more than 13,000 points of sale across the US, contributing to a 14 per cent incresae in Sportech's own retail internet volume.

"The global horse racing Tote market is showing signs of stabilisation and management continues to focus on driving further efficiencies, specifically managing the cost base whilst developing innovative new products and strengthening our digital capabilities to deliver a relevant, exciting and comprehensive product suite to the market,” said executive chairman Richard McGuire at the company’s Annual General Meeting (AGM) on Wednesday.

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