Sportech has sold its Dutch tote betting arm to RBP Luxembourg in a deal worth €3.25m (£2.85m).
Sportech Racing BV holds exclusive rights to tote betting on horse racing in the Netherlands, through nine betting shops, 38 other outlets with point-of-sale terminals and the website runnerz.nl.
The sale, expected to complete in the second half of this year, is worth an initial €2.8m (€2.46m), with a further €450,000 (£395,000) payable in January 2019.
Andrew Gaughan, CEO of Sportech, said: "The proposed disposal represents an attractive opportunity to realise value following the successful licence extension and restructuring of the business by management as we increase focus on US growth opportunities.
“Sportech will continue to provide RBP, under a long-term contract, its ongoing tote services and also has a strong working relationship with them focused on developing and selling their French racing pools into our vast footprint of global customers."
Last month, Sportech stated that trading in the early part of 2018 had been “fairly challenging”. Takeover talks failed, while 2017 profits are set to be below previous expectations.
