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Sportech Revenue Declines 40.6% in 2020
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Sportech has posted a 40.6% year-on-year decrease in revenue for 2020.
The company brought in revenue of £20.0m ($27.5m) and made a £12.8m loss, after selling both its Global Tote business and the Bump 50:50 lottery brand in 2020.
As it sold the Global Tote business, wagering at venues made up most of the continuing Sportech business’ revenue, down 36.0%. Food and beverage sales at those venues brought in an additional £1.5m, down 66.5%. The business made £2.9m from its lottery business, down 43.3% year-on-year.
Sportech paid £9.4m in costs of sales, for gross profit of £10.5m, down 42.6%. After marketing and distribution costs of £319,000, down 62.0%, Sportech was left with £10.2m, 41.7% less than in 2019.
The business then paid a further £12.3m in operating costs and £261,000 in investments for adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) loss of £2.3m.
Following share options, depreciation, amortisation and impairment, Sportech’s operating loss was £10.0m.
It incurred a further £557,000 in finance costs for a £10.6m pre-tax loss. After a £297,000 tax benefit, Sportech’s overall loss from continuing operations was £10.3m, 41.7% less than the same segments lost in 2019.
In addition, the operator’s Global Tote business, which was sold to BetMakers, and its Bump 50:50 business, which was sold to Canadian Banknote, made a combined £2.6m loss after recording revenue of £25.7m.
When these segments are accounted for, Sportech made a final loss of £12.8m, which was 11.7% less than 2019’s loss.
Sportech chief executive Richard McGuire said it was an extremely difficult year for the business because of the impact of the novel coronavirus (Covid-19) pandemic, but noted that it performed better than its March expectations.
McGuire said: “Covid-19 created unprecedented challenging conditions for our businesses and the industries we serve. We continue to take the necessary actions to safeguard the Group and to progress our strategic agenda.
“In line with this, the Group took steps to generate tangible investor returns by exiting certain businesses and assets, advancing the sale of the racing and digital division’s Global Tote business to BetMakers, the sale of the Bump 50:50 raffle business to Canadian Bank Note, and the disposal of a freehold property in Connecticut.
“Despite the challenging global environment, our performance in 2020 was better than initially forecast in March 2020, with Sportech delivering on key 2020 performance metrics, namely cash generation from operational activities, effective capex management, and delivery of a more efficient lower operational cost base going forward, resulting in only a modest cash outflow since the outbreak of COVID-19.”
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Season 2 of the Series in Development for 2026
Esports World Cup: Level Up, the five-part docuseries from Emmy-winning filmmaker R.J. Cutler (Billie Eilish: The World’s a Little Blurry, Elton John: Never Too Late, Martha), is now streaming for free on Prime Video’s official YouTube channel.
The Level Up series, produced by This Machine (part of Sony Pictures Television) in partnership with the Esports World Cup Foundation (EWCF), offers an unprecedented look behind the scenes of the world’s largest esports and gaming festival, redefining what it means to be a champion in the digital age. A second season is now confirmed, continuing the story of the EWC and the next generation of Clubs and players shaping the future of global esports.
In the first season, Level Up captures human stories of the competition. From Oakland’s Soka of Team Falcons, a swaggering extrovert who defies gamer stereotypes while carrying the weight of a tough past, to FAKER of T1, a South Korean icon battling the loneliness of his own legend, each player’s journey reveals the person behind the avatar.
In the Philippines, 19-year-old Sanford of Team Liquid fights for his family after tragedy strikes, while Drazah of Atlanta FaZe traces his rise from a small shed in Alaska to the global stage. Indonesian sisters Chel and Cinny of Team Vitality lead a dominant women’s team even as personal loss tests their resolve.
Beyond the players, Yevhen Zolotarov of NAVI competes to support a war-torn Ukraine, and Mossad Aldossary, the 24-year-old CEO of Team Falcons, shoulders the hopes of a nation as he strives to keep the championship at home in Riyadh.
Together, their stories reveal what truly drives esports’ greatest figures, not just victory, but purpose, pride, and resilience.
Stay tuned for more information about Season 2 of Esports World Cup: Level Up.
The post Esports World Cup: Level Up Now Streaming on Prime Video YouTube Channel appeared first on European Gaming Industry News.
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Innovecs Games Hosts Expert-Led Webinar: “From Crisis to Clarity — A New Blueprint for AAA Game Development”
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Innovecs Games, a leading game development studio under the Innovecs brand, announces its upcoming live webinar: From Crisis to Clarity: A New Blueprint for AAA Game Development!
Following two years of widespread studio closures and layoffs, the webinar will focus on how forward-thinking teams are reimagining workflows and talent structures to sustain creativity, efficiency, and innovation.
Confirmed speakers include:
- Nader Alikhani, VP of Games at Innovecs
- Chris Rowe, Business Development Director at Innovecs Games
- Amir Satvat, Founder of Amir Satvat’s Games Community
- Sam Carlisle, Co-Founder of XDS Spark
“These conversations are crucial as we collectively reimagine how the AAA ecosystem can thrive,” said Nader Alikhani, VP of Games at Innovecs. “Our goal is to share not just insights — but real frameworks for sustainable growth and creative resilience.”
The event will take place on November 19, 2025, at 9:30 AM PDT / 6:30 PM CET, and will include a live Q&A session. Participation is free and open to all professionals in game development and production.
Register here: innovecsgames.com/online-webinar-future-of-aaa-development/
The post Innovecs Games Hosts Expert-Led Webinar: “From Crisis to Clarity — A New Blueprint for AAA Game Development” appeared first on European Gaming Industry News.
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Softquo Holding to showcase integrated content strategy for Caribbean market at GAT Expo Santo Domingo
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Softquo Holding, the international technology group driving innovation across the global igaming sector, announced its participation at GAT Expo Santo Domingo 2025 (12th–13th November). The group will present the unified strength of its ecosystem, featuring industry leaders GoldenRace and Spinmatic, at Stand B3, highlighting a complete content and technology strategy for the burgeoning Dominican and Caribbean markets.
Softquo Holding’s focused presence in Santo Domingo acknowledges the region’s rapidly ascending market status. The Dominican Republic is emerging as a crucial igaming hub, bolstered by the imminent regulation of online gaming and a strong commitment to transparency and prevention of money laundering. GAT Expo Santo Domingo represents the essential meeting point for operators seeking secure, scalable and high-performance solutions in this high-potential region.
At Stand B3, Softquo Holding is dedicated to demonstrating how the combined expertise of its brands delivers holistic, integrated solutions for every betting and content vertical:
- GoldenRace: Highlighting the global market’s leading Virtual Sports, including the high-revenue Multiplier feature on horse and dog races and the dedicated LatAm solution, Baseball2Win, designed for unparalleled player engagement.
- Spinmatic: Showcasing a premium portfolio of slots and casino games, engineered for immersive gameplay and deep resonance with Caribbean and global audiences, driving increased Lifetime Value.
- Novusbet: Available for strategic discussions regarding its next-generation sportsbook and omnichannel platform technology, essential for rapid customisation and market entry.
Meet the Softquo Holding team at Stand B3 on 12th and 13th November to discuss how this unified content, platform and technology approach can immediately elevate your strategic growth in the Caribbean and LatAm markets.
The post Softquo Holding to showcase integrated content strategy for Caribbean market at GAT Expo Santo Domingo appeared first on European Gaming Industry News.
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