Member Article

Sportech makes £7.8m U.S acquisition

Betting firm Sportech announced the £7.8m U.S acquisition of eBet Online on Thursday morning, in a bid to expand its capabilities in the horseracing betting market in North America.

The UK-based company, which has operations in over 30 countries worldwide and started in North West England, took on the B2B betting company with the expectation of enhancing its earnings in the first 12 months.

eBet Online is one of the largest North American providers of betting systems, and offers online and mobile technologies for wagering across the continent.Sportech’s existing U.S business will be strengthened by the transaction, which will position the company as one of the largest operators in the country.

Revenues from wagering are expected to grow as Sportech will continue to offer its customers a full package of services, enhanced by eBet’s technologies.

Ian Penrose, Chief Executive of Sportech, said: “The acquisition of eBet is an important further development in our North American business, following approval last week to provide exclusive online betting on horseracing in the State of Connecticut and the recent appointment of David Schreff as Chief Operating Officer - The Americas.

“eBet brings Sportech a significantly enlarged online customer base, a licence in Oregon and an experienced new Managing Director for our interactive division.

“The addition of eBet significantly enhances our reach across horseracing in the United States.

“The acquisition is earnings enhancing in 2013, and we look forward to building upon this firm base.”

This was posted in Bdaily's Members' News section by Miranda Dobson .