🚀💰 UPSI ALERT: SPORTECH MAKES MOVES IN H1 2023! 💥😎 Instant Win

Grab your virtual seats because we’ve got some spicy updates from London’s own sports betting tech whiz, Sportech!

#BigNews: Despite a tiny loss of £0.3 million in the first half of 2023, Sportech is celebrating an 8% revenue boost, hitting £13.5 million!

#VenueVibes: Sportech Venues, the star of the show with nine gaming spots in Connecticut, stole the limelight with an 8.5% rise, bringing in £12.7 million. Guess what? £9.8 million came from wagers, £1.9 million from food and drinks (yum!), and £1.0 million from sports betting.

#DigitalDelight: After ditching its non-core lottery assets, Sportech Digital still shined bright, matching last year at £0.9 million.

#FYI: If you’re a numbers geek, here’s a tidbit—excluding exchange rate stuff from last year, Sportech’s first-half revenue would’ve been up by 1% year-on-year.

#ResilienceRocks: Sportech proudly said, “We rocked H1 2023!” “Amidst the intricacies of a predominantly physical retail business within a heavily regulated industry, the group’s performance stands as a testament to resilience and strategic prowess.”

#BettingBonanza: With the Connecticut Lottery Corporation as their partner-in-crime, overall betting handle within venues jumped by 2% to US$101.8 million.

#PlotTwist: Sportech managed around $50.1 million in retail sports betting handle, but here’s the twist—with a risk exposure of around $12.5 million.

#HoldTheLine: Despite challenges and a wild June with some baseball drama, gross profit (hold) stood strong at 10.2% of handle.

#PariMutuel: Pari-mutuel betting handle took a 5% dip to $51.7 million, mainly because online casino gaming and sports betting were stealing the show.

#VenueVictory: Sportech Venues is holding its ground! “The company’s focus on sports betting, despite its inherent risks, has yielded support to date,” they proudly stated.

#FutureFocus: Sportech is all about the future, saying, “Operational focus remains resolute.” They’re strengthening partnerships, seizing growth, and optimizing performance.

#CashFlow: As of June 30th, Sportech is chilling with £8.2 million in cash and cash equivalents, just a smidge less than last year’s £8.6 million.

#ShareholderSavvy: They did some shareholder magic with a capital restructuring and repaid around £46 million to shareholders in the past two years. In August, they splashed £3.5 million in shareholder repayments, bringing the total to around £121 million since 2017.

#MarketNews: Brace yourselves—Sportech’s shares took a wild 60.78% dive to 38.00 pence per share, and they’re thinking about canceling their listing on London’s AIM market.