Financial News

London-listed betting technology provider Sportech has reported a 2 per cent increase in revenue to £66.3m for 2017, alongside a swing to a loss of £24.4m for the year.

During the year the company sold its core Football Pools business, underwent an unsuccessful sale process, and saw the departure of its chairman Roger Withers, chief executive Ian Penrose and chief financial officer Mickey Kalifa.

"2017 was a year of material change for Sportech and 2018 is shaping up to be one of significant opportunity,” said newly appointed chief executive Andrew Gaughan. “Our recurring revenue in our Racing and Digital business is further being enhanced by additional sales opportunities and commingling along with the growth in our Bump 50-50 business.

“We have an enhanced platform for growth in our Venues division. Both should see benefit from a liberalisation of sports wagering in the US."

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