NetPlay TV lines-up Football Pools acquisition
Operator in "very preliminary" talks with Sportech to acquire its Football Pools business
NetPlay TV is in talks with Sportech over a potential acquisition of the firm’s Football Pools business.
In a statement issued to the market this morning, NetPlay TV said talks were “at a very preliminary stage” and there was no guarantee an agreement would be reached.
Any deal would be in the form of a reverse takeover, with NetPlay TV shares to be suspended until the talks end or an agreement is reached.
If a deal is reached it would be the second time the pair have done business, with NetPlay acquiring Sportech’s UK-facing Vernons egaming assets for £3m in 2013.
The talks mark the second attempt to acquire Sportech’s Football Pools business this year, with the firm turning down a £75m bid from GVC Holdings back in May – it is believed Sportech would want nearer the £100m mark.
Revenues from the Football Pools fell by £2.1m to £17.2m in the first half of the year, but Sportech said its plan had always been to stabilise revenues and then drive growth.
In a recent trading update, the firm said new player acquisitions via digital had increased 29% year on year to 9,000 off the back of “extensive trials” of new online acquisition channels.
It has been a busy year for Sportech in terms of M&A, after Canada-based Contagious Gaming moved to acquire the firm in its entirety but was unable to raise the required funds.