Menu
Finance

U.K.-Based Betting Operator Sportech's Adjusted Pre-Tax Profits Down Slightly

Betting operator Sportech "suffered the twin effects" of extreme U.S. weather and a "strong pound, holding back first-half earnings," according to Roger Blitz of the FINANCIAL TIMES. But the group is "eyeing up its first dividend payment to shareholders" if its £93M ($154M) tribunal award from its "claim against HM Revenue & Customs for overpayments of value added tax goes through." Sportech, "best known" as the operator of the U.K. football pools, makes "nearly two-thirds of its revenues" from the U.S., providing online betting for horse racing. Those U.S. operations were "hit by the cancellation of 280 race meetings in the first half of the year, compared with 81 in the same period" in '13. The pound's "strength against the dollar meant adjusted pre-tax profit fell slightly" to £6.3M ($10.5M). Revenues were down from £54.4M ($90.2M) to £52.6M ($87.3M) (FT, 8/21).

SBJ Morning Buzzcast: March 25, 2024

NFL meeting preview; MLB's opening week ad effort and remembering Peter Angelos.

Big Get Jay Wright, March Madness is upon us and ESPN locks up CFP

On this week’s pod, our Big Get is CBS Sports college basketball analyst Jay Wright. The NCAA Championship-winning coach shares his insight with SBJ’s Austin Karp on key hoops issues and why being well dressed is an important part of his success. Also on the show, Poynter Institute senior writer Tom Jones shares who he has up and who is down in sports media. Later, SBJ’s Ben Portnoy talks the latest on ESPN’s CFP extension and who CBS, TNT Sports and ESPN need to make deep runs in the men’s and women's NCAA basketball tournaments.

SBJ I Factor: Nana-Yaw Asamoah

SBJ I Factor features an interview with AMB Sports and Entertainment Chief Commercial Office Nana-Yaw Asamoah. Asamoah, who moved over to AMBSE last year after 14 years at the NFL, talks with SBJ’s Ben Fischer about how his role model parents and older sisters pushed him to shrive, how the power of lifelong learning fuels successful people, and why AMBSE was an opportunity he could not pass up. Asamoah is 2021 SBJ Forty Under 40 honoree. SBJ I Factor is a monthly podcast offering interviews with sports executives who have been recipients of one of the magazine’s awards.

Shareable URL copied to clipboard!

https://www.sportsbusinessjournal.com/Global/Issues/2014/08/22/Finance/Sportech.aspx

Sorry, something went wrong with the copy but here is the link for you.

https://www.sportsbusinessjournal.com/Global/Issues/2014/08/22/Finance/Sportech.aspx

CLOSE