Home
Distressed Businesses
  • All Distressed Businessess
  • Administrations
  • Liquidations
  • Winding Up
  • Insolvency Advice  New
Buy a Business
  • All Businesses for Sale
  • Find a Business for Sale
  • Raising Business Finance
  • Buyer Acquisition Service   New
  • Escrow Service   New
Sell a Business
  • Sell Your Business
  • List your Business
  • Seller Accounts
  • Need Help Selling?
  • Help With Finance New
  • Corporate Services  New
  • Business Valuation
  • Business Wanted Adverts
Insights & News
  • View All News
  • View All Insights
  • Exclusive Insights New
  • Video Insights
Lens
  • Search all UK Companies  New
Log in
Join Now

Home / News / London gambling firm to invite buyer offers

London gambling firm to invite buyer offers

Tue, 07 Nov 2017 | BUSINESS SALE

A London-based gambling company is hoping to be snapped up by an interested buyer after reporting a big jump in revenues for the past quarter.

Sportech, which specialises in sports betting and gambling technology, has taken in revenues worth £54.7 million in 2017, marking an annual increase of 5.8 per cent. In the third quarter of the year alone, revenues has surged by six per cent.

The growth was propelled by an app called Bump 50:50, which is used by American Football teams, as well as US baseball and basketball leagues to manage charity raffle programmes, increased revenue by 41.5 per cent year-on-year, too.

Sportech said its plan for further growth was to expand the range of its partnerships for the app across Canada and the US.

The London firm also operates a venues business which maintains retail betting locations and sports bars with gambling facilities.

Following approaches from unnamed potential buyers and a consequent strategic review, Sportech is sounding out deals from interested buyers around the world and has invited more offers from interested parties.

The firm’s chief executive, Ian Penrose, and CFO Mickey Kalifa are both slated to leave Sportech in December, the firm also announced, with no replacements currently planned.

Richard McGuire, Sportech’s non-executive chairman, said that trading had continued to go well in the first few weeks of the current quarter and the board expected the marketplace to continue supporting this into the end of the year.

He added: "During the coming weeks, we expect to provide a further update on the proposed distribution to shareholders and, at the appropriate time, provide further comments relating to the ongoing formal sale process. Our financial position remains robust, and will benefit further from annualised cost savings of at least £2m."

Find a business for sale
Subscribe to Business Sale Report


Share this article



Latest Businesses for Sale

Specialist Support Services For Adults
East Midlands, UK

The company provides person-centred support, progression and community integration, helping clients gain skills for living, employment and social skills.

Asking Price: Offers Invited
Turnover: £969,000

LEASEHOLD


Market Leading TV Shopping Channel
UK Wide

Highly successful business operating over a span of six years. Offers a comprehensive range of high-quality products and has successfully launched stock for over 400 suppliers.

Asking Price: Offers Invited
Turnover: £18,800,000

FREEHOLD


Provider Of Roofing And Building Services
Scotland, UK

Offers an extensive range of roofing and building services, ranging from minor works to major, multi-trade construction projects.

Asking Price: Offers Invited
Turnover: £510,000

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
26
 
Feb
 

Hanson-owned brickwork contractor closes down | BUSINESS NEWS

Brickwork firm Irvine-Whitlock, a subsidiary of building mat...

 
25
 
Feb
 

Fairstone secures further backing from PE firm TA Associates | BUSINESS NEWS

Acquisitive wealth management firm Fairstone Financial Manag...

 
24
 
Feb
 

Nestlé acquires recipe kit firm SimplyCook | BUSINESS SALE

Nestlé has strengthened its position in the e-commerc...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Related News

 
26
 
Feb
 

Hanson-owned brickwork contractor closes down | BUSINESS NEWS

Brickwork firm Irvine-Whitlock, a subsidiary of building mat...

 
25
 
Feb
 

Fairstone secures further backing from PE firm TA Associates | BUSINESS NEWS

Acquisitive wealth management firm Fairstone Financial Manag...

 
24
 
Feb
 

Nestlé acquires recipe kit firm SimplyCook | BUSINESS SALE

Nestlé has strengthened its position in the e-commerc...

Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources

Become a Member

News Categories

  • - Business Sale
  • - Division Sale
  • - Administration
  • - MBO/MBI
  • - Merger
  • - Commercial Property

View all news


About Us

Business Sale Report is the UK's leading independent business for sale & distressed business listing service. Established in 1995, the report offers an up-to-the-minute, comprehensive overview of businesses for sale, latest distressed business listings and daily acquisition news.

Our Services

Businesses for Sale
Distressed Companies
List a Business
Help with Finance
Buyer Acquisition Service
Small Businesses for Sale

Company

About Us
Insights
News
FAQs
Reviews
Terms & Conditions
Privacy Policy

Get In Touch

020 8875 0200
[email protected]
167 Oakhill Road, London, SW15 2QW
Working hours: Mon-Fri, 9am - 5:30pm


Sign up to our free newsletter



© 1995-2021. Business Sale Report Ltd. All rights reserved. www.business-sale.com.