The world of sports is more complicated than you think. And the mulled acquisition of Lot.to by another giant, Sportech, is just proof that things are about to get even more complex. Here are the details about the future acquisition of the iLottery operator.
Lot.to to Pass Under Sportech’s Banner
Sportech, a provider of betting solutions and technical specialization, has announced that the company’s considering the acquisition of Lot.to Systems Limited, an iLottery developer. The move will constitute part of a broader restructuring process within Sportech.
Not all has been smooth sailing for Sportech. The company just reported on its shrinking profits and struggling financial performance, with the company’s CEO, Andrew Gaughan, stepping down from the job. However, Sportech remains committed to pursuing partnerships that help it both expand & diversify its portfolio.
Sportech has refrained from fleshing out any specifics at the time of the reporting, but expressed its confidence that the new deal would give it an opportunity to pursue global markets and consolidate its position across major jurisdiction offering gambling and betting services. One thing became clear, with the company stating that it would seek to acquire the full 100% of Lot.to.
Trying to secure the deal is not a desperate move by the company. Sportech is aware that Lot.to has signed contracts with some of the best operators in both the poker and lottery segments, with names such as Lottoland and Celeb Poker, part of the company’s client list. But that’s hardly it. The company also has ties with Sky and Virgin, two of the best-known media giants in the world of sports, offering authentic coverage, insightful commentary, and, of course – odds and predictions for matches.
Lot.to Is Tech Savvy, Too
Lot.to is also quite technologically sophisticated, giving a yet another incentive to Sportech to pursue the company in full, especially if it can buy it at a good price, too. Lot.to provides cloud-based iLottery solutions, which further enable it to be at the forefront of technological development in 2018 and beyond.
Sportech are also not hiding their interest in the company. According to Sportech’s Executive Chairman, Richard McGuire, the lottery sector will constitute one of the most significant betting & gambling segments by 2020, accounting for 30% of all bets placed.
The global gambling market is estimated to reach an annual turnover of $635bn by 2020, with the lottery sector accounting for about 30% of that. – Richard McGuire
Exploring ways to acquire Lot.to as early as possible would enable the company to start developing even more decidedly in a sector that is clearly of significant importance to the world of betting in general.
Mr. McGuire had more to add, explaining that the addition of Lot.to will effectively seek to boost Sportech’s existing lottery operations, monetize the segment and reach out to new audience, boosting overall growth worldwide.
Meanwhile, Mr. McGuire has not sat idly in his new position. He bought 250,000 shares in the company, demonstrating his determination to back Sportech and to also signal potential investors that he’s prepared to invest in an asset he believes would pay out significantly in future.