Share Search
Visit the Share Search
You are here:
Sportech agrees to sell Sports Haven property
16th Nov 2020 10:18
(Sharecast News) - Sports betting technology business Sportech has agreed the conditional sale of its Sports Haven property in New Haven, Connecticut, to Criterion Group for $6.75m (£5.1m) in cash.
The consideration represents a premium to the 30 June 2020 balance sheet gross asset value of the property of $1.65m (£1.2m).
Sportech said completion is subject to Criterion concluding acceptable due diligence on the property, which is expected to conclude towards the end of March next year.
Proceeds from the sale "will create further investment capital for the group's Connecticut business and further strengthen the group's financial position", it said.
The consideration represents a premium to the 30 June 2020 balance sheet gross asset value of the property of $1.65m (£1.2m).
Sportech said completion is subject to Criterion concluding acceptable due diligence on the property, which is expected to conclude towards the end of March next year.
Proceeds from the sale "will create further investment capital for the group's Connecticut business and further strengthen the group's financial position", it said.