Online Casino Style: News - Sportech Joins US Market

10/07/2010		Online Casino Style - News: Sportech Joins US Market
Home History Games News Dictionary		It seems that the online gambling industries in the United States and the United Kingdom are getting some more communication between the two, with rumors hitting the internet casino community that the UK based Sportech is looking to enter the US horseracing industry. According to recent reports, the company has secured the licenses needed to acquire the Scientific Games Racing brand, one of the subsidiaries under the direction of Scientific Games Corp. The necessary approval has been achieved from the Connecticut and Maine regulatory bodies. According to most reports, the estimated price tag on the table for the acquisition is $83 million. As the brand moves over the Atlantic Ocean, other bodies have had to be notified of the deal, such as the London Stock Exchange will be its new host for shares. The final deal should be signed and agreed to by the 22nd of October, said Scientific Games. The only thing left to complete before the purchase can be made is a signature from the New Jersey Racing Commission, whose approval is expected by most to be received in the next week. It’s a big deal for Sportech, as the online gambling company has been on the prowl for an opportunity to expand their pari-mutual offerings. In addition to making strides in the American market, the company has been moving throughout the Americas, making strides however small in North, Central and South America. The deal has been relatively quick in the making, considering trends established by other online gambling firms, as they have only been in talks about it since the first part of 2010. Scientific Games will be acquiring a 19.9 percent holding in the Sportech world, with Playtech continuing with holding their 12.5 percent interest. Horse racing is one of very few loopholes in the online gambling business in the US, a rarity in the prohibition laws laid out by the UIGEA.

10/07/2010

Online Casino Style - News:
Sportech Joins US Market

It seems that the online gambling industries in the United States and the United Kingdom are getting some more communication between the two, with rumors hitting the internet casino community that the UK based Sportech is looking to enter the US horseracing industry. According to recent reports, the company has secured the licenses needed to acquire the Scientific Games Racing brand, one of the subsidiaries under the direction of Scientific Games Corp.

The necessary approval has been achieved from the Connecticut and Maine regulatory bodies. According to most reports, the estimated price tag on the table for the acquisition is $83 million. As the brand moves over the Atlantic Ocean, other bodies have had to be notified of the deal, such as the London Stock Exchange will be its new host for shares. The final deal should be signed and agreed to by the 22nd of October, said Scientific Games.

The only thing left to complete before the purchase can be made is a signature from the New Jersey Racing Commission, whose approval is expected by most to be received in the next week. It’s a big deal for Sportech, as the online gambling company has been on the prowl for an opportunity to expand their pari-mutual offerings. In addition to making strides in the American market, the company has been moving throughout the Americas, making strides however small in North, Central and South America.

The deal has been relatively quick in the making, considering trends established by other online gambling firms, as they have only been in talks about it since the first part of 2010. Scientific Games will be acquiring a 19.9 percent holding in the Sportech world, with Playtech continuing with holding their 12.5 percent interest. Horse racing is one of very few loopholes in the online gambling business in the US, a rarity in the prohibition laws laid out by the UIGEA.