Could Pools float be a huge draw?

Could Pools float be a huge draw?

Monday, February 22, 2016 Totally Gaming
Ian Hogg's consortium is reported to be Sportech's preferred bidder for The Football Pools

The Football Pools business could become a stand-alone public company for the first time under a £100m (€127.7m/$140.8m) takeover plan drawn up by a former executive.

TotallyGaming.com understands that Ian Hogg, the former chief operating officer of the UK pools’ owner Sportech and current chairman of GamCrowd, is in talks to create a new London-listed company to buy the institution.

The Sunday Times newspaper reported yesterday (Sunday) that Sportech has granted Hogg's consortium preferred-bidder status ahead of other suitors, including Canadian company Contagious Gaming, who first expressed their interest last August.

The potential deal comes two months after it was revealed that Netplay TV, the gaming company backed by Israeli investor Teddy Sagi, was in talks to buy The Football Pools. Netplay pulled out of the running in January, with Sportech claiming that it was in talks with a number of suitors.

Hogg’s consortium has reportedly been given time to prove it can finance the takeover. If a deal is signed, the newly created public company will raise cash from its shareholders.

Sportech brought together the famous Littlewoods, Vernons and Zetters brands to become The New Football Pools in 2007, with the combined entity’s name then changed to The Football Pools. Around 315,000 Britons continue to play the football pools, compared to as many as 15 million active customers in the 1980s.

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