Sportech Venues Secures Exclusive Off-Track Betting License Protections

NEW HAVEN, Conn., June 28, 2019 /PRNewswire/ -- Sportech Venues, Inc., a division of Sportech PLC, announced that the Connecticut State Budget signed by Governor Lamont on June 26, 2019 included legislation that clarifies and strengthens Sportech's exclusive license to conduct off-track pari-mutuel betting in the State of Connecticut.

Sportech Venues, Inc. holds the exclusive license to offer off-track betting in the State of Connecticut and does so through its 15 venues and online betting services. 

This budget legislation closes a loophole and thus legally prohibits unlicensed online operators from taking wagers from Connecticut residents.  This law becomes effective as of 1 October 2019.

Ted Taylor, President of Sportech Venues, Inc., said, "Sportech have invested heavily in our Connecticut business on the basis of our exclusive license to offer off-track betting there. We are pleased that the State of Connecticut recognized Sportech's exclusive license with this legislation to close a loophole that deprived Sportech of legitimate revenues but also, by virtue of uncollected pari-mutuel taxes, deprived the State of Connecticut of tax proceeds. This was a good result for both Sportech and for the people of the State of Connecticut."

About Sportech Venues, Inc.
Sportech Venues, Inc., a division of Sportech PLC, holds the exclusive in perpetuity license to conduct pari-mutuel wagering in the State of Connecticut.  The company operates 16 wagering venues and sports bars under the brands Winners and Bobby V's Restaurant & Sports Bar.  The company is also Connecticut's exclusive home for legal online betting on racing, offering secure online and mobile account wagering at www.MyWinners.com.  A portion of every dollar wagered with Winners goes to the Connecticut General Fund, to local municipal tax funds and to funds for responsible gaming. For more information about Winners, visit www.MyWinners.com.

Sportech PLC is the international betting technology business delivering services and solutions to gaming companies, sports teams, racetracks, casinos and lottery clients across 37 countries in addition to owning and operating sports gaming venues in Connecticut, United States, under exclusive licenses. For more information about Sportech PLC, visit www.sportechplc.com.

Contact:
Jennifer.conning@sportech.net

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SOURCE Sportech Venues, Inc.