Sportech reduces forecast for the year

UK-based gambling and entertainment company Sportech has lowered the revenue forecast for the year, because of the failure to thrash out some expected sales agreements. The newly forecasted Adjusted Ebitda for the year through December is now 14–20 per cent lower than current market expectations of £8.5m.

“Whilst we are disappointed not to have secured some international sales contracts by the year end, we continue to focus on signing these contracts,” – stated chief executive Andrew Gaughan.

“We are working proactively with Connecticut and other states in the US to secure the rights to conduct sports betting as a licensed operator and we expect that sports betting revenues will commence in the second half of 2019.”