UK: Sportech takes over Lotto

The online sports betting provider Sportech stationed in London has taken over the online lottery driver Lot.to, based in Birmingham. The deal is intended to help optimize the international business of both providers as a result of a restructuring phase.

100 percent participation

The acquisition of Lot.to will “improve digital skills in all business areas of the group”, according to the Sportech chairman and (new) CEO Richard McGuire. Furthermore Accelerate the takeover also international growth of the company listed on the London Stock Exchange. Above all, the sports competition capacities of both providers should be “consolidated” as a result of the acquisition. The CEO McGuire in the wording:

“Our existing lottery product and sports competitions will be decisively improved. In addition, the acquisition will support our digital development and our global para-mutuel capacities efficiently and effectively. ”

So far, nothing has been known about the financial details of the transaction. However, it is clear that Sportech is “100 percent involved in Lot.to from now on”. In addition to the Consciation of his global game skills and services, sportech also plans to expand its range of gambling services-especially with regard to lottery and betting games as well as player management systems that are provided on cloud-based ilottery platforms. the online lottery company lot.to, licensed in great britain, has already worked with gaming companies such as lottoland, celebpoker and the media giant sky and virgin. only two months ago lot.to also gave one Cooperation with the Swiss Sports Data Group Sportradar known. at the center of the deal was the implementation of the new “sportradar numbers-betting online solution” system. this is a new -like online payment system for bets with fixed odds, which means that one as simple as it is effective deposit and withdrawal processing should be guaranteed. Especially in terms of speech recognition, the system will set “new standards”. In addition, the software accepts a “large series” of currencies. Sportech also works with a sports cycling.

Acquisition of “central importance”

Lot.to is particularly attractive for its new owner Sportech due to the international orientation. McGuire, which in this context also refers to current developments in the global gaming market, also sees the advantages of the acquisition: the lottery potential of the market is of “central importance”. For this purpose, McGuire provides some as well as current and clear numbers, in the quote it says:

“We estimate that the global gaming market will reach annual sales of $ 635 billion by 2020, of which the lottery sector is about 30 percent. Our alliance with Lot.to will improve our existing core lottery product and help us to promote global growth and achieve a constantly growing digital audience. ”

The McGuire experiences support in parallel from Lot.to co-founder Andrew Lindley, who also took a position with a view to the potential of the Ilottery industry. With the takeover, both companies have therefore Above all, technical advantages over the competition Secured, anyway, “no other gambling product has as much global attraction as lotteries”. Lindley also in the wording:

“Our customers will benefit from the combination of our proven processing technology and the Hardware from Sportech. Our innovative Ilottery platform will provide synergies from unique offers. Together we can offer our customers a really first-class omni-channel solution. ”

Restructures at Sportech

Sportech announced plans for a Lot.to takeover for the first time last November, just a few days after the company his Already second loss warning for 2018 published to his shareholders. due to losses due to the sales sales, sportechs shaleholder had to cope with a minus of 15 percent. richard mcguire emphasized at this point that adjusted ebitda for 2018 is expected to Five to ten percent below the market expectation of EUR 9.9 million it will be very “disappointed”, said the chairman’s comment. the latest forecast, on the other hand, confirms an increase in adjusted ebitda of 14 to 20 percent compared to the previous year. the predictions are justified, among other things, with planned expansions in the united states, where Sportech im Bundestaat Connecticut is represented under the Sportech Venues brand. Here, however, Sportech already has 16 locations for bets on horse racing and wind dog races. In addition, the operator has one Exclusive license for telephone and online services receive. Sportechs (outgoing) CEO Andrew Gaughan recently commented on the overseas business, it was said:

“We work proactively with Connecticut and other US states to secure the rights to carry out sports betting as a licensed operator and we expect the sports betting income to increase especially in the second half of 2019.”

Gaughans forecasts could come true in that the state of Connecticut actually plans his To open the market in the second half of 2019 to sports betting. Since the Paspa cancellation last May, sports regulation in the United States has been responsible for the individual states.

New CEO

Incidentally, Andrew Gaughan – also last November – resigned from his position just eight months after his appointment as managing director. He wanted to “pursue different interests”, it said in a personal statement. The 52-year-old came to Sportech in 2010 and became a board member in January 2017. At the end of this month, Gaughan is officially released from the team. Meanwhile, the business was taken over by the CEO Richard McGuire.