{"id":12870,"date":"2020-12-20T17:00:30","date_gmt":"2020-12-20T17:00:30","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=12870"},"modified":"2026-04-23T23:03:19","modified_gmt":"2026-04-24T02:03:19","slug":"sportech-ends-negotiations-with-rival-bidder","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/sportech-ends-negotiations-with-rival-bidder","title":{"rendered":"Sportech ends negotiations with rival bidder"},"content":{"rendered":"\n

The board has put an end to talks with Standard General and recommended the sports betting company’s sale to BetMakers.<\/p>\n\n\n\n\n\n\n\n

Australia.- The board of the sports betting company Sportech has announced it has ended negotiations with Standard General and recommended continuing with the sale of company assets to another interested party, BetMakers.<\/p>\n\n\n\n

Sportech received a rival offer from Standard General after BetMakers’ acquisition proposal was announced on December 1<\/a><\/em><\/strong> but the companies have not been able to agree on a price for the purchase of Sportech\u2019s shares.<\/p>\n\n\n\n

Sportech said: \u201cHaving considered the full terms and conditions of Standard General’s proposal, and taking into account the views of the company’s major shareholders, the board has concluded that the proposal did not adequately value the businesses and prospects of Sportech, in the light of both the execution risk attached to Standard General’s proposal and the company’s other options to create shareholder value, including the proposed disposal of its Global Tote business to BetMakers Technology Group.\u201d<\/p>\n\n\n\n

The decision means the path is now clear for shareholders to vote on the sale to the Australian sports betting firm to Betmakers at the annual meeting scheduled for December 24. \u00a0<\/p>\n\n\n\n

BetMakers has its sights on Sportech\u2019s tote and digital business in order to boost its US expansion<\/a><\/em><\/strong>.<\/p>\n\n\n\n

The operation includes Sportech\u2019s racing and digital assets in the United States, the United Kingdom and Europe.<\/p>\n\n\n\n

The transaction is valued at AU$56.2m (US$41.34m), according to the December 1 announcement. The board at BetMakers Technology Group has already recommended the acquisition.<\/p>\n\n\n\n

The tote Business in the US comprises betting solutions, hardware and operational services for over 200 racetracks, casinos and betting venues and customers across the United States, Canada and Latin America.<\/p>\n\n\n\n

The digital business provides white-label betting solutions to more than 25 customers in North America, while the UK and European unit offers betting technology, parimutuel and comingling services to more than 35 customers across the UK, Ireland, Europe and Asia.<\/p>\n\n\n\n

The deal also covers QuantumTM Tote Technology, a tote betting engine used at events such as the Breeders Cup and Royal Ascot race meetings.<\/p>\n","protected":false},"excerpt":{"rendered":"

The board has put an end to talks with Standard General and recommended the sports betting company’s sale to BetMakers.<\/p>\n","protected":false},"author":2,"featured_media":12872,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Sportech's board has terminated negotiations with Standard General, citing inadequate valuation and execution risk, and reaffirmed its recommendation for the sale of its Global Tote and digital assets to BetMakers Technology Group. This AU$56.2m transaction, encompassing racing and digital assets across the US, UK, and Europe, is strategically positioned to bolster BetMakers' expansion in the North American market. Shareholders are scheduled to vote on the BetMakers acquisition on December 24.","focusai_entities":"Sportech, Standard General, BetMakers, BetMakers Technology Group","focusai_location":"Australia, United States, United Kingdom, Europe, Canada, Latin America, North America, Ireland, Asia","focusai_target_profile":"ceo_executive (0.95), regulator (0.75), compliance_legal (0.8), operator_casino (0.9), product_ux (0.7), tech_data (0.9), payments_fraud_aml (0.7), investor_analyst (0.98), supplier_vendor (0.95), journalist_researcher (0.9)","focusai_suggestions":[{"label":"BetMakers Integration Strategy","query":"What are BetMakers' immediate integration priorities for Sportech's Global Tote and digital assets, particularly regarding the QuantumTM Tote Technology and white-label solutions, to ensure seamless operational continuity and capitalize on the stated US expansion objectives?"},{"label":"Shareholder Value Impact","query":"Beyond the stated AU$56.2m valuation, what specific financial synergies and long-term shareholder value creation mechanisms does BetMakers anticipate from this acquisition, and how does this compare to the rejected Standard General proposal's potential?"}],"footnotes":""},"categories":[16336,155],"tags":[233],"class_list":["post-12870","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-australasia-news","category-sports-betting-news","tag-sports-betting"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/12870","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=12870"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/12870\/revisions"}],"predecessor-version":[{"id":12888,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/12870\/revisions\/12888"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/12872"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=12870"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=12870"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=12870"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}