Re Agreement
03 Octobre 2002 - 9:00AM
UK Regulatory
RNS Number:0016C
Sportech PLC
03 October 2002
Sportech plc re-focuses lottery business with disposal of non-core Pull Tab
operation and new distribution agreements
Sportech plc, the home gaming company and owner of the Littlewoods gaming and
betting brands today announces completion of the disposal of its Pull Tabs
lottery operations to AIM listed Gamingking plc (formerly thebiz.com plc).
Sportech plc also announces today, two distribution agreements with Safeway and
Granada Interactive.
Pull Tabs
The sale of the non-core Pull Tab lottery operations to Gamingking has been
completed for a cash consideration of #0.57 million. The business, which
consists of machine vended lottery tickets available in private members clubs,
generated a turnover of #0.52 million and profits of #43,000 in the financial
year to 31 December 2001.
Safeway
Sportech has been appointed by Safeway to deliver a series of Safeway branded
lottery scratchcards. These will initially be offered in 26 Safeway stores. Each
lottery scratchcard will cost #1 and offer a top prize of #75,000. Up to 28
percent of revenues will be donated to Great Ormond Street Children's Hospital.
Granada Interactive
Sportech has developed, in conjunction with Granada Interactive, lottery and
entertainment pay-2-play on-line games on ITV's "Popstars:The Rivals" web site,
www.itv.com/popstars. These include scratchcard games, "Stage Fright Instant"
and "Popball Instant", which provide arcade style entertainment. Further games
are planned as the television series progresses.
Colin McGill, Managing Director, Sportech plc comments:
"Lottery products are an important part of our business, and our focus is on the
development of new distribution partnerships which have the potential to deliver
large customer numbers. We are keen to exploit the opportunities presented by
established and developing channels, including multiple retailers, television
and internet."
Ends
For further information:
Suzanne Judge, Corporate Communications, Sportech, 07736328967
Charles Reynolds/Charlotte Kirkham, Bell Pottinger Financial, 020 7861 3232
Notes to Editors:
Sportech PLC:
Sportech plc is the UK's leading home gaming company, providing a variety of
gaming and betting opportunities to customers through its wholly owned portfolio
of Littlewoods gaming and betting brands. Sportech is developing its business
through the utilisation of new channels of distribution to bring more games to
more players in the home, capitalising on the strength of the Littlewoods brand,
namely its association with the values of trust and integrity.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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