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Sportech Revenue Declines 40.6% in 2020

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Sportech Revenue Declines 40.6% in 2020
Sportech Revenue Declines 40.6% in 2020Reading Time: 2 minutes

 

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.”

George Miller (Gyorgy Molnar) started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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FairPlay Sports Media and FOX Sports Digital Launch New Betting Hub

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FairPlay’s betting technology and AI-powered predictive content drive deeper fan engagement and deliver media opportunities and revenue

FOX Sports Digital and FairPlay Sports Media, the fan-focused and AI-powered global sports media network, have announced a strategic betting tech, affiliate and sports media agreement.

Under the multi-year agreement, FairPlay will serve as the exclusive sports betting affiliate technology provider of FOX Sports Digital, deploying its market-leading odds components, advanced AI-powered predictive data and analytics, and cutting-edge technology solutions on FOXSports.com and the FOX Sports mobile application.

The new relationship powers the newly released FOX Sports Betting Hub which integrates FairPlay’s innovative sports betting-related content enhanced with bespoke, value-added experiences derived from FairPlay’s deep relationships with global sportsbook operators.

“FOX Sports is one of the largest sports rights holders in the world, with incredible access to live games and global events,” said Stuart Simms, Group CEO of FairPlay Sports Media. “FairPlay is excited to work with the FOX Sports Digital team, and we’re honored to serve their millions of users with more engaging, insightful sports media experiences that have proven to drive loyalty, engagement and deliver on brand differentiation.”

FairPlay’s advanced AI technology and robust odds components are already delivering real-time, data-driven insights to help FOX Sports fans and bettors, while monetization frameworks being deployed create revenue opportunities for operators, sportsbooks and digital media buyers.

The agreement enhances and elevates fan engagement by bringing FairPlay’s betting information technology and AI-powered tools to FOX Sports’ digital platforms. FairPlay’s approach enables FOX Sports digital users and fans to access personalized, data-driven betting analytics that deepen their connection and engagement with sports content. As the sports media and betting landscapes continue to evolve, the FOX Sports and FairPlay agreement delivers pioneering, scalable digital experiences for fans and operators alike.

 

The post FairPlay Sports Media and FOX Sports Digital Launch New Betting Hub appeared first on Gaming and Gambling Industry Newsroom.

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Betfred Launches Checkd Dev’s Automated Betting System to Strengthen Football Betting Offering

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Checkd Dev, part of the award-winning Checkd Group and a leading iGaming technology provider, has signed a multi-year agreement to supply its Automated Betting System (ABS) to UK bookmaker Betfred, introducing new levels of efficiency and engagement to pre-match football accumulator betting.

Through the partnership, Betfred has launched a suite of pre-configured, one-click accumulator bets, powered by Checkd Dev’s ABS technology and seamlessly integrated with Betfred’s proprietary pricing.

The solution enhances the customer betting journey while equipping Betfred’s trading team with a robust backend platform to streamline bet creation, management, and settlement. Customers benefit from football bets that are dynamically assigned probabilities based on historic form, providing greater insight and confidence in their selections.

The launch of ABS reinforces Betfred’s reputation as an industry innovator, offering customers smarter, faster, and more engaging betting experiences.

Checkd Dev has refined its ABS user interface through deployments with multiple tier-one operators. Betfred has further strengthened the proposition by integrating its competitive Acca Flex bonus offer, available from launch. Customers can access additional bonuses if their bet wins, while also benefiting from a money-back guarantee if a single leg loses.

Since its introduction two years ago, Checkd Dev’s ABS has evolved from a statistics-driven tool to increase operator conversion rates into a comprehensive system designed to meet the growing demand for automated, pre-configured betting products, powered by the company’s proprietary BRUNO platform.

This agreement extends Checkd Dev’s recent growth trajectory, following high-profile partnerships with William Hill on a fully automated, stats-powered Bet Builder, and a three-year deal with OpenBet to launch a new Trending BetBuilder to market.

Andrew Grimshaw, Commercial Director at Checkd Dev, commented: “We are delighted to be working with fellow Mancunians Betfred on our Trending Bets product. More and more major bookmakers are recognising the tangible value of our automated betting solutions, and it is especially gratifying to collaborate with a local partner on this launch.”

Mark Hartley, Head of Product at Betfred, added: “Since moving onto our propriety platform, we’ve been able to bring new ideas to market much faster. This partnership with Checkd Dev is a great example, helping us solve a simple problem for football fans: researching and building an accumulator can sometimes feel like hard work!

“With one-click, data-driven selections we’ve made the process quicker and easier, while still giving customers the choice and depth they want. Accas are already one of our most compelling propositions, thanks to our popular promotion Acca Flex, and this launch makes them even more engaging. We’re also looking forward to exploring further opportunities to work with Checkd Dev in the future.”

 

The post Betfred Launches Checkd Dev’s Automated Betting System to Strengthen Football Betting Offering appeared first on Gaming and Gambling Industry Newsroom.

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Slotland’s Crown Jewel, Gods of Egypt, Resurrects with Enhanced Features

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Legendary Title Reborn for a New Generation of Fortune Seekers with Freebies and Bonuses until December 28th

Slotland Entertainment has ceremoniously relaunched its legendary title, Gods of Egypt, across its casinos Slotland, Winaday and now including CryptoSlots and CryptoWins. This revered 5×4, 30-payline slot invites players into a grand temple of mythic wealth.

Wager $1.50 to $30 to awaken divine features: Ra’s Sticky Expanding Wilds, Bastet’s gem-triggered Free Spins, and a Pick Me Bonus with layered treasures. For those betting $15 or more, five Pharaoh symbols unlock the progressive jackpot.

Gods of Egypt has always been a crown jewel in our collection,” said Michael Hilary, Manager at Slotland. “This relaunch across our entire empire allows a new generation of players to experience its timeless magic and seek its legendary rewards.”

Framed by the regal visages of Anubis and a jeweled queen, the game creates a ceremonial atmosphere of arcade spectacle. It is a call to modern seekers: enter and claim your ancient riches.

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The post Slotland’s Crown Jewel, Gods of Egypt, Resurrects with Enhanced Features appeared first on Gaming and Gambling Industry Newsroom.

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