Sportech revenue growth driven by racing and digital

Pools and sports betting operator Sportech has cited the success of its Racing and Digital business as the main catalyst behind year-on-year revenue growth during the 12 months through to December 31, 2013.

In its preliminary results, the firm posted revenue of £110.3 million (€134.1 million/$184.1 million) for 2013, up from £107.7 million in the previous year.

EBITDA also increased from £25.2 million in 2012 to £26m in the past 12 months.

The positive results were boosted by the performance of Sportech’s Racing and Digital business, which itself posted full-year revenue of £35.9 million, up from £31.7 million in 2012.

Racing and Digital also experienced an increase in EBITDA, which grew from £5.5 million in 2012 to £7.7 million in 2013.

The firm also cited the growth of its US businesses in 2013 as a key success in the past year – progress that was previously reported by iGaming Business.

However, the firm did experience losses in its Football Pools business, which suffered a fall in revenue from £42.9 million in 2012 to £41.3 million in 2013. EBITDA also dropped from £18.8 million in the previous year to £17.4 million in 2013.

Ian Penrose, chief executive of Sportech, said: “The Group has delivered a good set of results in a transformational year.

“We have strengthened the management team and board, invested cash of £22m in the group and completed a number of corporate transactions to increase our focus and operational capabilities.

“Our US-based businesses now account for 60% of group revenues, and we are particularly pleased with their strong profit growth, driven primarily by the technological investment in our core Racing and Digital business.

“We remain well positioned for future growth in the US market and, with the strong cash flows from our Football Pools business we have entered 2014 with confidence.”

source :

Share This Article:

More Similar Articles


Please enter your comment!
Please enter your name here