Industry News

Sportech reduces forecast for the year

Published

7 years ago

November 8, 2018

Niji Narayan

Sportech Strengthens Product and Commercial Teams

Reading Time: < 1 minute

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.”

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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.