Sportech is selling its Sportech Racing BV division to RBP Luxembourg for €3.25m.
Sportech Racing BV is the company’s Netherlands business, which obtained a new five-year licence in June 2017 for the exclusive rights to carry out tote betting on horseracing in the Netherlands. This licence is operated in nine betting shops, 38 other outlets with point-of-sale terminals and online through the Company’s website www.runnerz.nl.
Andrew Gaughan, CEO of Sportech, said: “The Proposed Disposal represents an attractive opportunity to realise value following the successful licence extension and restructuring of the business by management as we increase focus on US growth opportunities. Sportech will continue to provide RBP, under a long term contract, its ongoing tote services and also has a strong working relationship with them focused on developing and selling their French racing pools into our vast footprint of global customers.”