LONDON (ShareCast) - (Sharecast News) - Catalyst Media Group updated the market on its Sports Information Services investment on Wednesday, following the reduction of the maximum stake for fixed-odds betting terminals to £2 as announced recently by Westminster.
The AIM-traded firm has a 20.54% interest in SIS.

It said SIS recognised that the change would affect the UK retail market which it serves, but at this stage neither the implementation date nor the resulting impact on the UK betting market was know.

Therefore, SIS said it was not able to fully assess the impact on its own business of the change.

However, it did say it was still exposed to a potential material decline in the UK retail market through a resulting reduction in the number of UK betting shops.

"The new media rights contracts that SIS has been entering into with UK and Irish racecourses will though partially mitigate the impact of the change on SIS's business, along with other mitigating actions that are being and could be implemented by SIS," the statement read.

"SIS's strategy to accelerate international and online expansion, is further supported by the change."

As it had previously announced, SIS has received approaches for SIS Live, and it confirmed that those continued to be considered, and could result in the sale of SIS Live with any net proceeds expected to be returned to SIS shareholders.

"However, there is no certainty that such discussions will result in the disposal of SIS Live."

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