Heavy focus on Connecticut as Sportech reports revenue growth for 2021

The interim financial results of Sportech (AIM: SPO) for the first half of 2021 have been released

The meanwhile financial results of Sportech (AIM: SPO) for the number one half of 2021 have got been released.

The results exhibit a significant increase inward wagering handgrip compared to the pandemic-impacted 2020 period. Online wagering showed a 16% increase compared to 2020 and a 45% step-up compared to 2019.

The Lotteries unit generated a 75% revenue growing compared to 2020, yet a 9% step-down compared to 2019, which is explained by the domesticated and international traveling difficulties.

The group’s current nidus is completing the proposed portion out cap reduction and shareholder great return, and operationally executing the legal transfer of sports betting crosswise Connecticut, as it proclaimed inward Aug 2021, and escalating its digital lottery opportunities.

Even though things are unsure on the timing of when Nutmeg State sports betting will live launched, the aggroup considers its products and direction strategy to dramatic play an important role inwards supporting futurity investment funds and growth.

Sportech proclaimed discussions had commenced relating to a possible sales agreement of a terrestrial drawing undertake and will update the market place in due course.

Richard McGuire, departing CEO of Sportech, commented: “The first half of 2021 pronounced a notably successful full stop of restructuring as Sportech completed business organization disposals, secured the relocation to the AIM market and built further on the online revenue gains from 2020.

"In recent weeks we also secured shareholder reenforcement for a proposed uppercase simplification and a substantial uppercase paying back to shareholders, and were delighted to announce a 10-year byplay relationship with the Constitution State Lottery Corporation to reenforcement their sports betting initiative.”