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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.”
Betsson Group was once more distinguished as a gaming industry leader with two winning categories at the SBC Awards Europe 2025 – an event focused on recognising the best operators, affiliates, suppliers, payments and game developers across the European gaming industry.
This time, Betsson was awarded for:
Best Affiliate Programme – Betsson Group Affiliates
Betsson Group Affiliates (BGA) continues to lead the way in affiliate excellence, driving exceptional results through trust, innovation, and operational strength. Representing several reputable brands across Europe and beyond, BGA delivered outstanding performance in 2024 – growing traffic, conversions and partner loyalty through tailored support and cutting-edge tools.
With strategic expansions into high-growth markets such as Argentina, Greece and Colombia, BGA has empowered affiliates to deliver outstanding results through hyperlocal campaigns, region-specific assets and multilingual access.
Casino Operator of the Year
With all-time high results across key KPIs, Betsson Group’s focus on locally regulated markets continued to deliver. Player loyalty grew through personalised experiences, exclusive content and standout customer service.
Betsson’s commitment to user experience, compliance and innovation was further recognised with an upgraded ISO 27001:2022 certification and record-high customer deposits. With 91.7% of players using responsible gaming tools, and 1.35 million active customers, Betsson is not only growing fast, but doing so sustainably. These are just some of the reasons why Betsson Group earned this coveted award.
The post Betsson Group Awarded at the SBC Awards Europe appeared first on European Gaming Industry News.
The Danes’ gambling spend increased in April 2025 compared with the same month last year. Especially online casino and betting saw a growth in the spending.
Figures from the Danish Gambling Authority’s monthly statistics show that the total gambling spend in April increased by 11.5% compared with April 2024.
Particularly online casino and betting contributed to the growth in the total gambling spend with an increase of 21.6% and 6.1%, respectively. On the other hand, land-based casino and gaming machines saw a minor fall of 2.5% and 3.6%, respectively.
The monthly statistics also cover key figures describing the Danish Gambling Authority register of self-excluded players (ROFUS) and the helpline StopSpillet.
The post Spillemyndigheden: Danes Spent More Money on Gambling in April appeared first on European Gaming Industry News.
Norway’s state-run gambling model could soon face a major change. With the next general election scheduled for September 8, the Progress Party is renewing calls to end the national gambling monopoly.
Speaking at a May conference hosted by the Norwegian Online Gaming Association (Norsk Bransjeforening for Onlinespill), MP Silje Hjemdal reiterated her party’s long-standing position that Norway must move towards a liberalised market. The call echoes the Progress Party’s 2021 election manifesto and gains momentum as similar reforms unfold in neighbouring Finland.
Hjemdal, a member of the Storting’s family and culture committee, highlighted successful remote gambling frameworks in Denmark, Sweden, and Finland. While she stopped short of endorsing a specific model, she expressed admiration for Denmark’s regulatory setup.
“I haven’t landed on a concrete model, but what’s happening in Denmark is very exciting. I’d gladly take a study trip there to learn more,” she said.
She also pointed to the broader risks of maintaining the monopoly, noting that large sums of money continue to flow out of the country through unlicensed platforms.
“We are one of the very few countries left using this model. There’s a clear need for better regulation—under the current system, Norwegian sports and culture lose out as money is spent offshore,” Hjemdal added.
The Progress Party isn’t alone in pushing for change. The Conservative Party also supports opening Norway’s gambling market and included the proposal in its latest manifesto, released in September 2023.
Carl Stenstrøm, Secretary-General of the Norwegian Online Gaming Association, believes the upcoming election could prove decisive. In a previous interview, he described the current level of cross-party support as the strongest yet for ending the monopoly, with liberalisation potentially arriving by 2028.
The post Norway Progress Party Renew Calls to End Gambling Monopoly appeared first on European Gaming Industry News.
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