Sportech Extends Licensing Agreement with Danske Spil
The London-based sports betting supplier announced it will extend its tech licensing and service agreement with Denmark’s gaming operator Danske Licens Spil.
The betting solution Sportech provides Denmark’s state-owned gaming operator called Quantum System Tote. The licensing agreement is multi-year, expanding the already fruitful relationship between the two companies.
Sportech is looking forward to pursuing new growth ventures with Danske Spil.
According to a quote from Bruno Gay, the Senior VP of Sportech, their Quantum System tech, and Tote solutions have helped Danske Spil reach their goals and will continue to do so. They are more than willing to pursue new “avenues of growth” with the Danish company.
Gay likens the success of integrating horse racing with a large number of Danske Spil lottery outlets as one of the major outcomes of their relationship.
Horse betting has seen much success in the past year across Europe despite the pandemic. In fact, Sweden’s ATG filed a lawsuit against their own state-owned operator regarding horse betting and revenue.
Even in Canada, changes to sports betting are possibly underway with the country authorizing its legalization.
Sportech’s Global Tote business is in the middle of an international transition.
Sportech is selling their Global Tote business to BetMakers, a Sydney-based gaming tech supplier. The two companies signed an agreement just last December.
Though this business is being sold to a company outside of Europe, the agreement with Danske Spil doesn’t appear to be affected. Nor does the Danish company’s reliance on Sportech’s system.
Sportech plc (LSE:SPO) shares were trading 2.18% lower as of January 22nd, at just £26.41.
Who is Sportech?
Sportech is a London-based online gambling company. They claim to be the largest international pari-mutuel solutions, provider. In the case above, these pari-mutuel solutions are designed for the horse betting industry.
Pari-mutuel betting is when buyers who back the first three places split the losers’ stakes and results in less operator commission.
Sportech provides lottery platforms, raffle solutions, and technology to gaming operators worldwide. The company even signed a partnership deal with 888sport back in 2008 to become their software supplier.
The London-based company is adamant about supporting responsible gaming, charitable initiatives, and environmental responsibility.