Sportech Racing, a subsidiary of London-listed Sportech plc, has been awarded a Casino Service Industry Enterprise Licence by the New Jersey Division of Gaming Enforcement (DGE).
The licence approval follows an extensive period of investigation by the DGE and supersedes the Transactional Waivers under which Sportech has operated in New Jersey since acquiring Scientific Games Racing in 2010.
"We are delighted to have been awarded our licence in New Jersey, which we believe is among the first, if not the first, to be acquired there by a European gaming group," said Sportech chief executive Ian Penrose.
"It is viewed as a 'Gold Standard' in licensing in the sector globally, and is an endorsement of our standards of operations and the qualifications of our directors and senior employees. I thank all those who have been involved in the process to help us get to this point, and look forward to building on the opportunity that this licence award presents to Sportech."
Sportech Racing has a well established presence in New Jersey, processing all wagering for the racing industry at racecourses, off track betting facilities, certain Atlantic City casinos, and through the state sanctioned advance deposit wagering service.
Sportech's data and operations centre in New Jersey also serves the international market, processing $11bn of bets a year for customers in the US, Canada, the Caribbean and South America, and serving as a back up to the company's Berlin data centre.
Shares in Sportech plc. (Co. Data) (LSE:SPO) were trading up 3.47 per cent on the news early Tuesday at 67.00 pence per share.