Sportech exploring potential acquisition of lottery solutions provider

Sportech exploring potential acquisition of lottery solutions provider

Monday, November 19, 2018 Posted by News Team
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Deal could see supplier add online lottery solutions to sports betting product range

Betting technology supplier Sportech has entered into a strategic alliance with iLottery solutions provider Lot.to Systems with a view to acquiring the business. 

Sportech is negotiating exclusively with the company over an acquisition, which would see it acquire 100% of the business on a share-for-share business. 

Headquartered in the UK, Lot.to provides B2B services to a number of partners, including a proprietary iLottery platform, as well as online lottery games and sports raffle solution FanDraw. Through the strategic alliance, the two businesses will look to combine their products to grow their respective customer bases. 

"The global gambling market is estimated to reach an annual turnover of US$ 635bn by 2020, with the lottery sector accounting for about 30% of that," Sportech executive chairman Richard McGuire explained. 

"Our strategic alliance with Lot.to will enhance our existing successful core lottery product and will help us to capitalise on the worldwide growth of lottery and lottery-style games and reach an ever-expanding digital audience.”

Lot.to co-founder Andrew Lindley added: "Our future with Sportech is hugely exciting because our clients can benefit from the combination of Sportech's proven robust processing technology and hardware and our innovative iLottery platform in a single offering as well as the obvious synergies in sports betting platforms. 

"Together, we can offer clients a truly world-class omni-channel solution that's incredibly powerful."

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