REG - Sportech PLC - FY 2022 pre-close update

SportechAnnouncement

24/01/2023 07:45

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RNS Number : 6665N  Sportech PLC  24 January 2023

SPORTECH PLC

('Sportech' or the 'Group')

 

FY 2022 pre-close update

 

 

Sportech, an international betting and technology business, is pleased to
announce a pre-close trading update in respect of the financial year ended 31
December 2022 ('FY 2022').

The Group continues to deliver strong operational performance since the
release of its Interims on 1 September 2022. Gross gaming revenues (GGR) for
2022, including Sports Betting, continued to perform strongly, F&B
revenues delivered solid growth, and Group operational costs reduced
significantly. As a result, we currently expect to report 2022 full year
adjusted EBITDA ahead of market consensus.

Year-end net cash remains healthy, giving potential to return further capital
to shareholders in H1 2023 (2022: 7p of cash per share was returned to
shareholders).

Richard McGuire, Executive Chairman of Sportech, said:

"The Group continues to evolve and deliver new growth opportunities. We are
strengthening relationships with our betting partners and aggressively
reshaping non-operational costs to align with Group scale. The outlook for
2023 and beyond is very positive. We will continue to discuss the future
business structure with key shareholders to ensure alignment with the Board on
objectives and direction for the divisions and Group."

All 2022 reported financial figures remain subject to audit and the Company is
due to release its 2022 Preliminary Results in April  2023.

 

For further information, please contact:

Sportech PLC
 
               enquiries@sportechplc.com
(mailto:enquiries@sportechplc.com)

Richard McGuire, Executive Chairman

 

Peel
Hunt
                      Tel: +44 (0) 20 7418 8900

(NOMAD and Corporate Broker to
Sportech)

George Sellar / Andrew Clark / Lalit Bose

 

 

 

 

 

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