Gambling tech provider put up for sale

Sportech plc, a gambling technology provider based in Liverpool, has been put up for sale.

Last month, the company revealed that their CEO would be leaving at the end of the year, as well as the fact they were planning to conduct a full strategic review of operations with a view to maximising shareholder value. Following on from that review, Sportech announced that they were now accepting offers for the company under the stewardship of a financial adviser.

According to Sportech, several parties have already expressed interest in the company "four of which have made preliminary approaches to acquire the company". However there have been no detailed discussion as yet.

Sportech chairman Richard McGuire said: "We announced last month a comprehensive strategic review to assess options to enhance shareholder value. Further to this investigation, we have today launched this formal sales process.

"Whilst we note there is no certainty that an offer, or suitable offer, will be forthcoming, our confidence in our businesses, in our growth opportunities and in our dedicated professional colleagues means that a potential sale is only one of the strategic options open to the company."

Sportech runs more than 27,000 betting terminals with 400 clients across 37 countries. In the USA alone, the company generates in the region of $11 billion of bets per year.

Throughout the last year, Sportech has been pushing for international growth, focusing on growth within the US market.

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