2013      Nov 15

Sportech PLCVernons, part of Sportech PCL from Liverpool is being sold to Netplay TV for an amount of £3 million. According to a statement, the decision was made to sell Vernons after a review of its performance over the last 6 months. The casino hasn’t been performing as well as hoped and it reported a loss of £700,000 in the first 6 months of 2013.

In order to turn the company around, Vernons required extra investments and Sportech has decided that it wasn’t worthwhile to continue with the project.

Ian Penrose from Sportech said that his company is extremely happy to have received £3 million for Vernons after selling it to NetPlay TV. He also added that NetPlay TV will be able to combine their interative TV marketing skills to take the business forward in a way that Sportech couldn’t. Moreover, it would allow Sportech to increase their operations in the United States.

The sale included the whole of Vernons Online Casino which includes websites for sportsbooks, poker and bingo. Moreover, they sold their customers databases and all customers will be moved over to NetPlay TV. Some staff will also be moved.

Charles Butler from NetPlay Tv said that his company are very excited about buying Vernons because it fits very well with the company’s core business. It will add more customers and it will be able to be integrated very quickly into their current line of business.

 

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