Sportech & LOT.TO Strategic Alliance
Sportech PLC (LSE: SPO), the international betting technology business, announces a strategic alliance with iLottery provider Lot.to Systems Limited (“LOT.TO”) and has entered exclusive negotiations with a view to acquiring 100 per cent. of LOT.TO on a share-for-share basis. The acquisition would be non-material in the context of the Group. The alliance will provide mutual clients with a broader suite of gaming opportunities and an acquisition would further solidify Sportech’s global gaming services position.
“The global gambling market is estimated to reach an annual turnover of US$ 635bn by 2020, with the lottery sector accounting for about 30% of that,” said Richard McGuire, Executive Chairman of Sportech. “Our strategic alliance with LOT.TO will enhance our existing successful core lottery product and will help us to capitalise on the worldwide growth of lottery and lottery-style games and reach an ever-expanding digital audience.”
UK based and regulated, LOT.TO is a digital specialist and B2B partner of some of the most innovative online gambling businesses in the world. Its products include inventive lottery and betting games and state of the art player management systems delivered on its cloud-based ‘iLottery’ platform.
“For worldwide appeal, no other gambling product comes close to lotteries,” said Andrew Lindley, Co-founder of LOT.TO. “Our future with Sportech is hugely exciting because our clients can benefit from the combination of Sportech’s proven robust processing technology and hardware and our innovative iLottery platform in a single offering as well as the obvious synergies in sports betting platforms. Together, we can offer clients a truly world-class omni-channel solution that’s incredibly powerful.”