Sportech to Purchase Horseracing Operator eBet Online
The sportsbetting accessories supplier, Sportech was happy to announce that they plan to buy one of the biggest operators in online betting. eBet Online Inc. It is known as one of the leaders in supplying business to business technology. Sporteach might be also be known as the provider of the New Football Pools service within the United Kingdom. However, this acquisition of eBet Online will solidify the company’s standing within the United States.
About the AcquisitionThis purchase by Sportech is quite significant because the company has also received permission to provide horseracing wagering to east Connecticut residents. This will be an exclusive license only available to Sportech. The buyout also occurred during the recent announce of Scientific Games Racing that provides lottery software and technology.
The FinancesThe purchase of Scientific Games Racing was thought to be valued at over $12.6 million. However, Sportech wants this acquisition quickly and is prepared to spend over $80 million to add eBet Online to their holdings. This will give Sportech a product that is available only for the wagering markets in North America. According to Mark Gregory, CEO of eBet Online, this will be the best business development in the field of online wagering and horseracing. Mr. Gregory will also become managing director of Sportech’s Interactive Products and Services department.
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