Sportech, the London-based operator of The New Football Pools, has announced that its full-year results for 2008 are set to be in line with expectations after ‘robust’ trading for the final half of the year.
The leading gaming business purchased 4TheGame.com, the oldest and one of the most respected soccer community websites in the UK, in late-November for a rumoured $934,651. In addition, Sportech rebranded and relaunched The New Football Pools, formerly the Littlewoods and Vernons Football Pools businesses, in August leading to ‘increased resilience in customer numbers’.
Sportech also partnered with Ladbrokes last month to launch a selection of The New Football Pools products across the bookmaker’s estate and stated that additional arrangements were planned over 2009 to further enhance distribution.
“The initiatives undertaken during 2008 have resulted in a major improvement in the strategic positioning and performance of the business,” the firm stated.
“The group continue to develop as a growth oriented sports, leisure and gaming business. During the year significant investment and management time was devoted to upgrading the group's products, technology and routes to market.
”The majority of the Vernons Football Pools business has been successfully integrated ahead of schedule. We expect the final part of the integration, being the migration of customers onto the group's new Scientific Games-powered gaming platform, to be completed by the half year, which would bring further synergies.”
Sportech launched an additional bingo brand at GameOnBingo.com earlier this month and revealed that it would be reporting its preliminary results for 2008 to the market on March 24.
“The board believes the investment in the business and strategic relationships formed during 2008 has strengthened the group considerably,” Sportech announced.
“The board consider Sportech's high-volume, small-value ticket characteristics put it in a strong position to weather the economic downturn as it has done on many occasions since the business was formed in 1923.”