Sportech clinch four UK Ladbrokes Coral tracks

News on 7 Nov 2018

Sportech Racing and Digital has signed a new contract with four racetracks operated by Ladbrokes Coral in the UK, marking the completion of a deal first announced back in June (see previous reports).

Under the new contract, Sportech will provide tote betting systems, hosting and operational services to the greyhound racetracks at Monmore, Crayford, Romford, and Brighton from Sportech’s data center in Bristol, UK.

The migration of the on-track systems to the Bristol data center will enable the provision of inter-track wagering services to support common pool pari-mutuel wagering between the tracks and third party operators, a key area of growth for racetracks and pools betting operators.

In addition to the UK data center hosting and operations services, the contract also includes provision for on-track hardware and software maintenance.

Sportech’s Vice President Sales Europe, Bruno Gay:

“We are very pleased to have signed an agreement that will deliver Sportech’s unrivaled package of betting technologies and services and are confident that Ladbrokes/Coral will be very pleased with the quality of the services they receive from the Sportech team.

In related news, Sportech issued a profit warning Wednesday after expected sales contracts failed to materialise.

The company forecasts adjusted full year EBITDA to be between five and ten percent lower than existing market expectations of GBP 8.5 million which still represents 14 to 20 percent growth over the past year.

‘Whilst we are disappointed not to have secured some international sales contracts by the year end, we continue to focus on signing these contracts,’ chief executive Andrew Gaughan said.

‘We are working proactively with Connecticut and other states in the US to secure the rights to conduct sports betting as a licensed operator and we expect that sports betting revenues will commence in the second half of 2019.’

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