The gaming division of UK-based interactive gaming company NetPlay TV, NetPlay TV Group Limited, has acquired pool and sportsbetting operator Sportech’s e-Gaming business Vernons.com for £3 million (€3.5 million/$4.8 million).
In announcing the deal, Sportech said that the decision had been made to offload Vernons.com had been made following a strategic review of the e-Gaming business over the past six months.
“Sportech’s management has concluded that the operation is not of sufficient scale and that Sportech would need to invest further or acquire additional e-Gaming assets to derive an acceptable financial return,” the company said.
The e-Gaming business reported a loss of £700,000 in the first half of 2013, and the losses have continued in the second half of this year, the company added.
“Given the investment opportunities in other parts of the business, including those presented by US online regulation and our exclusive horseracing betting platform in Connecticut, the board have decided to sell our e-Gaming business to a more focused and larger e-Gaming operator which can grow the customer base and better mitigate the impact of UK Point of Consumption tax when implemented in December 2014,” Sportech said.