Sportech Expects Higher Adjusted AEBITDA for 2019

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.