Sportech Subsidiary Awarded New Jersey Licence

RNS Number : 7527K

Sportech PLC

21 April 2015

 



21 April 2015                                                                         

Sportech PLC ("Sportech")

Subsidiary Awarded New Jersey Licence

Sportech PLC ("Sportech") is delighted to announce that the New Jersey Division of Gaming Enforcement ("Division") has awarded its subsidiary, Sportech Racing, LLC ("Sportech Racing") a Casino Service Industry Enterprise Licence, under section 92(a) of the New Jersey Casino Control Act.  It is understood to be among the first, if not the first, full gaming-related licence to be issued in New Jersey to a European-owned company. This follows a thorough investigation by Division of the Group, its employees and shareholders over an extended period, and supersedes the Transactional Waivers that Sportech Racing has been operating under in New Jersey for the last four and a half years.

In New Jersey, Sportech Racing processes all the wagering for the racing industry at  racecourses, off track betting facilities, certain casinos in Atlantic City, and through the state's only sanctioned "advance deposit wagering" (online betting) service. In addition, Sportech's data and operations centre, which is based in Mt. Laurel, New Jersey, processes a total of $11 billion of bets a year for customers in the US, Canada, the Caribbean and South America. This facility also acts to back up our Berlin data centre, which processes bets for our European customers. In aggregate, the two facilities process $13 billion of bets each year globally.

Sportech is also represented in New Jersey by Sportech-NYX Gaming, LLC ("SNG"), the joint-venture established with NYX Gaming Group Limited.  SNG provides the online gaming platform and associated services operated by Resorts Casino Hotel in Atlantic City.

A New Jersey licence is regarded as one of the very highest endorsements available to operators in the sector, and will have a beneficial impact on Sportech's activities not only in New Jersey and the Americas, but also in regulated environments globally. 

Ian Penrose, Chief Executive said

"We are delighted to have been awarded our licence in New Jersey, which we believe is among the first, if not the first, to be acquired there by a European gaming group. It is viewed as a "Gold Standard" in licensing in the sector globally, and is an endorsement of our standards of operations and the qualifications of our directors and senior employees. I thank all those who have been involved in the process to help us get to this point, and look forward to building on the opportunity that this licence award presents to Sportech.

- ENDS -

For further information, please contact:

Sportech PLC                                                                                              020 7268 2400

Ian R Penrose, Chief Executive

Cliff Baty, Chief Financial Officer

Investec Bank Ltd                                                                                       020 7597 5970

Patrick Robb

Henry Reast

Peel Hunt LLP                                                                                             020 7418 8900

Dan Webster

Richard Brown

Brunswick Group LLP                                                                                020 7404 5959

Mike Smith

Rosheeka Field 

[e-mail]

 

END

 

 

MSCPGUBUCUPAGAU