The Ups and Downs of UK Casino Group Sportech Plc
UK casino gambling group, Sportech Plc, has announced its figures for the year of 2007. Despite a 2 percent decrease in profits compared to 2006, the company’s gross gaming revenues increased by 18 percent across all its divisions. The increased profits are believed to be the direct result of the UK casino group’s online gaming division’s move to Malta, which created improved margins and more efficient internal structure.
The gross win at the UK casino online went up by 11 percent, which generated a 160 percent rise in operating profits. This was contrasted by the 5 percent decrease in gross win at the company’s more traditional football gambling division, which fell to £47.2 million.
According to the Chief Executive of Sportech plc, Ian Penrose, 2007 was a significant year for the UK casino group’s development and progress, which also marked their acquisition of the Vernons pool business, purchased from Ladbrokes. The integration of Vernons Pools has also provided further motivation towards an ongoing transformation of the UK casino group, currently being offered online and soon too be introduced across the entire football gaming business by the end of 2008.
As part of the company’s transformation, it will also be reviewing its software agreement with Cryptologic, and replacing the Littlewoods UK casino brand with Vernons Pools.Sportech is also considering purchasing the Tote bookmaker, which would enable players to bet on everything from British football to horse-racing and more.