Online betting firm boosted by US payday

ONLINE gambling firm Sportech yester­day reported half-year pre-tax profit of £7.1m, up from £0.8m at the same point last year.

The company, whose total market capitalisation is £139.21m, reported a decline in revenue, which at £51m was down 6.1 per cent on the £54.3m reported last year.

The disposal of SNG, a gaming venture based in New Jersey, was a major boost to Sportech’s coffers, priced at £8.1m before tax.

Ian Penrose, chief executive of Sportech, said: “We have built a portfolio of highly regulated businesses in the US and UK, and have continued to invest in each to bring through innovation and technological improvements. We are now well positioned to build upon our unique position, based on our regulated racing and pools operations.”

Shares in the gambling company rose by 0.75 per cent at 67.50p.