Sportech suffers but expands in the US regardless
THE strong pound has been a handicap for betting group Sportech which is expanding in the US where it now earns two thirds of its income.
Currency fluctuations left revenues in the first half of the year 3 per cent lower at £52.6million and underlying profits marginally lower at £6.3million.
The company is stepping up expansion of its sports bar venues in the States, having recently opened a new site in Connecticut and preparing its first in California.
Sportech already runs Connecticut’s only legal betting website
It already runs Connecticut’s only legal betting website and has struck a deal to run an online casino game for Resorts Hotel in Atlantic City.
In the UK, its football pools business stabilised for the first time in many years and it won a contract to supply computer systems to the Tote.
In June, it was paid £93million by HMRC following a long-running VAT dispute but the money is being held on account pending a final court ruling expected soon.
