Sportech considers lottery games company acquisition

News on 16 Nov 2018

Sportech plc has confirmed that it has started serious discussions with lottery games specialist LOT.TO with a view to extending a strategic alliance into an acquisition. Such an takeover, Sportech feels, would “further solidify its global gaming services position”.

LOT.TO co-founder Andrew Lindley said in a statement: “Our future with Sportech is hugely exciting because our clients can benefit from the combination of Sportech’s proven robust processing technology and hardware and our innovative iLottery platform in a single offering as well as the obvious synergies in sports betting platforms”.

Sportech exec Richard McGuire said that Sportech’s strategic alliance with LOT.TO will enhance its existing successful core lottery product and help Sportech to capitalise on the worldwide growth of lottery and lottery-style games and reach an ever-expanding digital audience.”

However, perhaps still rattled by an earlier earnings warning and the recently announced impending departure of CEO Andrew Gaughan, investors did not appear to react positively as the share price continued to fall, declining a further 2.2 percent Friday.

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