Sportech has acquired US online betting operator eBet Online for a sum which could rise to $12.6m in the next three years, subject to growth performance targets.
The deal to buy one of the largest online horse race wagering operators in the US bolsters Sportech’s American offering. Bets totalling more than $100m were placed through eBet’s account wagering systems in the year to June 30, 2012.
Sportech's enlarged US interactive operation will provide customised websites, mobile applications, interactive voice response systems and telephone betting services to 29 licensed gaming and racing customers across the US.
Under the terms of the acquisition, the current CEO of eBet, Mark Gregory, will assume the role of managing director of Sportech's Interactive Products and Services division. Andrew Gaughan, the current managing director of the division, will become managing director for business development in the Americas. Both Gregory and Gaughan will report to David Schreff, Sportech’s COO for the Americas.
