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Sportech Expects Higher Adjusted AEBITDA for 2019

Published

6 years ago

November 26, 2019

Niji Narayan

Andrew Lindley Steps Down as Sportech CEO

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Sports betting technology provider Sportech has revealed that it expects full year revenue to be in line with management expectations following a number of decisive actions.

This year, the Sportech management restructured the group, exit certain non-profitable activities and streamline costs in a bid to deliver a more appropriate operational cost base to help offset the high fixed costs of its Venues business, which the group is addressing through a variety of initiatives.

“Sportech now has a management team in place to transform the business to drive growth and efficiencies. We have extricated the group from a number of historically expensive strategies, delivered an efficient and lower operational cost base, and we are now much more confident in the group’s ability to deliver significant value to our clients and shareholders,” Sportech CEO Richard McGuire said.

The company added that these operational efficiencies should deliver higher than expected 2019 adjusted EBITDA, excluding sports betting investments.

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Niji Narayan

Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.