Sportech Racing LLC, a subsidiary of the London-listed Sportech PLC, accomplished a major milestone. Mere hours ago, company representatives announced that Sportech Racing has been granted a Casino Service Industry Enterprise License that enables it to provide its products and services in the state of New Jersey.
What makes the agreement so notable is the fact that Sportech is the first European betting company to be awarded such an important license by the US gambling officials.
According to people familiar with the matter, before being granted a license, all company services have been strictly monitored by the US authorities and their compatibility with the regulations on the New Jersey gambling market was checked.
Prior to the issue of Casino Service Industry Enterprise License, Sportech was allowed to operate in the Garden State under the Transactional Waivers. The latter enabled Sportech to provide services to several Atlantic City-based casinos, handle the wagers at racecourses and off track betting activities as well.
The strong presence of Sportech on the US gambling market is also supported by reports, according to which, the revenue generated annually exceeds £7.4 billion. It seems like Sportech is a widely popular online gambling company not only in the US but also in Canada, South America and the Caribbean region.
The European customers of Sportech are served by the Sportech office based in Berlin. Although the European segment generates less than the US one, it was estimated that the total amount is nearly £9 billion.
The Casino Service Industry Enterprise License is considered a major accomplishment that will be beneficial to the future ventures of the company on the global gambling market.
The Chief Executive Officer of Sportech, Ian Penrose, commented on the matter and said that everyone who has contribution to the license acquisition is excited to be provided with the opportunity to further consolidate company’s positions on the markets.
Mr. Penrose went on to say that the aforementioned license is considered the “Gold Standard” in the industry and it proves the competencies of both company executives and employees.
Sportech’s CEO expressed his gratitude to everyone involved in the acquisition and said that company executives are impatient to build on the excellent business opportunity they have been given.
Apart from the US expansion, Sportech also signed an agreement with Apuesta Hipica y Deportiva Iberia. The President of Sportech Racing and Digital, Andrew Gaughan, commented on the new partnership and said that it will provide the Spanish brand with the opportunity to improve their business through adopting Sportech systems and services.
