Sportech Making Progress With Regulatory Authorities In North America

30th Jun 2010 14:18

LONDON (Dow Jones)--Sportech PLC (SPO.LN), said today that it continues to make good progress with the regulatory authorities in North America, and has reached an advanced stage in obtaining regulatory clearance in the Netherlands. MAIN FACTS: -Sportech is confident that the transaction will receive the necessary US State regulatory approvals and complete in due course. -This US regulatory process has been more demanding than originally anticipated, and consequently has taken longer than initially advised. -Sportech has taken advantage of this lengthy procedure to focus on the fine detail of the integration plan for the two businesses, and the development potential of the combined Group. -The board remains confident that the opportunities for the enlarged Sportech to drive growth and value remain significant. -This announcement is further to the announcement on May 13, in which it was stated that completion of the acquisition of Proposed Acquisition of Scientific Games Racing or SGR remained subject to certain international regulatory approvals which were expected to have been received by the end of June 2010. --Shares at 1310 GMT down 1.25 pence, or 2.94%, at 41.25 pence valuing the company at 67.60 million. -By Razak Musah Baba, Dow Jones Newswires; 44-20-7842-9275; [email protected] (END) Dow Jones Newswires June 30, 2010 09:18 ET (13:18 GMT)