BUSINESS

Sportech disappointed by online; BetClic Everest experience another departure; Probability raise money through stock issue

TAGs: BetClic Everest, France, Marketing, probability, Sportech, UK

news in brief 2013Sportech are “slightly disappointed” with the performance of their e-Gaming division in 2012 with the rest of the company performing “in-line” with expectations. The company blamed “brand changes and system migrations” for the dip in online performance, something that will be addressed in the coming 12 months. A detailed prognosis will be available in the full year results call on Mar. 6, 2013.

They are also being made to wait for a decision to be made on whether they’re liable to repay VAT of up to £80million from their “Spot the Ball” game between 1979 and 1996. The First Tier Tax Tribunal will now decide in February and not January as previously stated.

BetClic Everest have seen a second chief executive depart in the space of two years with news filtering through that Ignacio Martos has relinquished the reigns at the French-based firm. eGR are reporting Martos will be replaced by the firm’s chief financial and corporate officer Isabelle Andres. Martos departed by stating the company “wouldn’t have reached targets” without their “continued support”. Martos’ decision to move on comes after a set of half-year results that showed a 34.7 percent narrowing of losses and all signs were pointing to a successful year with the company looking to obtain licences in new jurisdictions – such as Spain and Germany.

Mobile gambling specialist Probability has raised £2.8million through a new listing of shares on the open market. The plan is that Probability will use the money to help fund “additional marketing expenditure” that will primarily focus on the B2C business targeting UK consumers. Additional the money will give the company resources to pursue its B2B business in both Italy and the UK. Charles Cohen, chief executive, revealed the share offering was “oversubscribed”.

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