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Sportech Revenue Declines 40.6% in 2020
Sportech has posted a 40.6% year-on-year decrease in revenue for 2020.
The company brought in revenue of £20.0m ($27.5m) and made a £12.8m loss, after selling both its Global Tote business and the Bump 50:50 lottery brand in 2020.
As it sold the Global Tote business, wagering at venues made up most of the continuing Sportech business’ revenue, down 36.0%. Food and beverage sales at those venues brought in an additional £1.5m, down 66.5%. The business made £2.9m from its lottery business, down 43.3% year-on-year.
Sportech paid £9.4m in costs of sales, for gross profit of £10.5m, down 42.6%. After marketing and distribution costs of £319,000, down 62.0%, Sportech was left with £10.2m, 41.7% less than in 2019.
The business then paid a further £12.3m in operating costs and £261,000 in investments for adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) loss of £2.3m.
Following share options, depreciation, amortisation and impairment, Sportech’s operating loss was £10.0m.
It incurred a further £557,000 in finance costs for a £10.6m pre-tax loss. After a £297,000 tax benefit, Sportech’s overall loss from continuing operations was £10.3m, 41.7% less than the same segments lost in 2019.
In addition, the operator’s Global Tote business, which was sold to BetMakers, and its Bump 50:50 business, which was sold to Canadian Banknote, made a combined £2.6m loss after recording revenue of £25.7m.
When these segments are accounted for, Sportech made a final loss of £12.8m, which was 11.7% less than 2019’s loss.
Sportech chief executive Richard McGuire said it was an extremely difficult year for the business because of the impact of the novel coronavirus (Covid-19) pandemic, but noted that it performed better than its March expectations.
McGuire said: “Covid-19 created unprecedented challenging conditions for our businesses and the industries we serve. We continue to take the necessary actions to safeguard the Group and to progress our strategic agenda.
“In line with this, the Group took steps to generate tangible investor returns by exiting certain businesses and assets, advancing the sale of the racing and digital division’s Global Tote business to BetMakers, the sale of the Bump 50:50 raffle business to Canadian Bank Note, and the disposal of a freehold property in Connecticut.
“Despite the challenging global environment, our performance in 2020 was better than initially forecast in March 2020, with Sportech delivering on key 2020 performance metrics, namely cash generation from operational activities, effective capex management, and delivery of a more efficient lower operational cost base going forward, resulting in only a modest cash outflow since the outbreak of COVID-19.”
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Alina Mihaela Popa Chief Commercial Officer at ICONIC21
ICONIC21 Increases Reach Through Strategic Content Alliance with Celesta
ICONIC21 has achieved an important milestone in its distribution approach by unveiling its complete multi-vertical portfolio on Celesta’s extensive aggregation platform.
This collaboration provides Celesta’s broad operator network with instant access to ICONIC21’s varied collection, including live casino games, slots, and virtual games. The integration signifies a complete portfolio acquisition, guaranteeing that the provider’s full creative production can be distributed globally via Celesta’s efficient technology.
Celesta has positioned itself as a major player in the iGaming supply chain, providing a collection of more than 7,500 titles from leading providers, which now includes ICONIC21. Through a single API integration, the aggregator allows online casinos and sportsbooks to expand quickly while ensuring technical reliability.
The addition of ICONIC21 enhances Celesta’s portfolio, particularly with the Gravity Series in the live dealer segment, alongside an expanding range of mathematically-based slots and virtual games like Plinko and Crash. The partnership aims to satisfy the increasing demand for adaptable content that succeeds among various player demographics and locations.
Commenting on the launch, Alina Mihaela Popa, Chief Commercial Officer at ICONIC21, said: “Joining forces with Celesta is a calculated move to ensure our content hits the right lobbies. What stands out in this partnership is the sheer velocity of the go-to-market process; Celesta’s infrastructure allowed us to transition from agreement to live status with remarkable efficiency. Through them, we can showcase the technical quality of our games and we expect the performance data from this rollout to speak for itself very shortly.”
From Celesta’s side, Corentin Budny, Head of Growth & Account Management, added: “Our objective is to provide operators with tools for genuine differentiation, and ICONIC21’s portfolio fits that brief perfectly. Integrating their full range, from high-energy live tables to virtual games, adds significant depth to our offering. This is a collaboration where success will be measured by clear, quantifiable engagement metrics, and we look forward to analyzing those results as we expand our mutual footprint.”
The agreement highlights ICONIC21’s dedication to a multi-product approach, expanding from a single-vertical emphasis to deliver a comprehensive gaming experience. Utilizing Celesta’s global distribution capabilities, the provider is set to greatly enhance its presence across various markets.
The post ICONIC21 Increases Reach Through Strategic Content Alliance with Celesta appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
bankroll coverage
St8 Partners with iBankroll to Empower Operators with Expanded Financial Muscle
Casino games aggregator and comprehensive technology provider St8 has teamed up with iBankroll to launch bankroll coverage as a service on its platform, further broadening its products and services in international markets.
Through the collaboration, St8 will incorporate iBankroll’s unique Bankroll-as-a-Service model into its services, enabling operators to accommodate higher limits while controlling exposure and utilizing capital more effectively.
Designed exclusively for iGaming, iBankroll merges liquidity, risk knowledge, and strategic acumen to assist operators in achieving growth with enhanced predictability and managed volatility.
Accessible directly through the St8 platform, the integration allows operators to implement iBankroll’s liquidity assistance solution without added operational difficulties, utilizing it either for their entire casino range or specifically for high-limit and VIP segments, based on their exposure strategy.
Designed as a unified, adaptable solution, St8 offers partners access to high-quality content via a single integration, along with marketing tools, analytical features, and comprehensive compliance support.
With St8 expanding its services, the collaboration with iBankroll introduces an additional financial aspect to its platform and represents another advancement in the company’s growth plan, solidifying its role as a next-gen full-service tech provider.
Vladimir Negine, Chief Executive Officer at St8, said: “Our focus at St8 is giving operators the right foundations to grow in regulated markets.
“Partnering with iBankroll introduces an additional range of tools to our platform and is a practical addition to our ecosystem, one we believe will make a real difference for partners as they continue to scale.”
Hayden Bowman, Co-Founder at iBankroll, added: “St8 has built a strong infrastructure for brands launching and expanding in key markets.
“By working together, we are able to extend that proposition with additional liquidity support and a structured risk-sharing mechanism that helps operators offer higher limits while maintaining predictable performance.”
The post St8 Partners with iBankroll to Empower Operators with Expanded Financial Muscle appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
Compliance Updates
Romanian Mayors Push to Ban Gambling Halls
A wave of Romanian mayors has followed the example set by Slatina’s mayor, who recently announced plans to eliminate gambling halls from his city under newly amended legislation. While the political signal is growing louder, the decisive vote belongs to local councils – and gambling operators are unlikely to retreat without resistance.
On February 26, the mayor of Vaslui, Lucian Braniște (PSD), said he would submit a draft decision to the Local Council seeking a ban on gambling halls within the city. He argued that gambling has become a serious social issue across many Romanian communities.
“In recent years, gambling has become a real problem in many communities in Romania. Beyond advertisements and colorful lights, behind these halls, there are too often stories of affected families, debts, addiction, and suffering,” the mayor said.
In Ploiești, mayor Mihai Polițeanu also voiced support for eliminating gambling venues and announced that he would table a similar proposal before the City Council, Economedia.ro reported. He described parts of the city centre as having turned into a “strange, underworld-like” area, suggesting that the proliferation of betting shops has contributed to urban degradation.
The mayors of Brăila and Rădăuți have likewise declared their intention to pursue restrictions on gambling activities.
The initiatives follow a recent amendment to gambling legislation adopted by the government, which now requires operators to obtain not only a national licence but also a local authorisation from the mayor’s office in the municipality, town, or commune where they operate. The new provision also empowers local councils to decide whether such activities may take place within their administrative boundaries.
While the political momentum appears to be building, the outcome will ultimately depend on council votes in each locality. Given the economic stakes and the industry’s established presence, legal and political battles are expected before any city can formally declare itself gambling-free.
The post Romanian Mayors Push to Ban Gambling Halls appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
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