Having been unable to secure a sports betting license for the state of Connecticut, betting technology firm Sportech has instead announced an exclusive 10-year commercial arrangement this week to offer sports wagering there via the Connecticut Lottery Corporation (CLC).
While sports betting became legal in the Constitution State in May this year, Sportech missed out on being awarded a sports betting licence. That left the group with two options: either legally challenge the decision or construct a mutually beneficial relationship with one of the three parties awarded a licence.
Having taken the latter option Sportech Venues Inc, subject to required regulatory consents, in conjunction with CLC’s sportsbook provider Rush Street Interactive (RSI), will deliver sports betting across its retail estate while promoting CLC’s online and mobile channel.
Rob Simmelkjaer, Chairman of CLC, said: “We are very excited to partner with Sportech to bring retail sports betting to all corners of the state of Connecticut. Their existing locations and licensed staff will allow us to get to market quickly with RSI’s retail offering, and we look forward to working with them as we ramp up retail Sports Betting around the state.”
Richard McGuire, Sportech CEO, added: “Our customers have been demanding sports betting for many years and we are delighted to be part of the CLC team, bringing our proven locations, expertise and licensed betting professionals to support CLC in delivering an exciting sports betting product across the retail network and promoting their online and mobile channel.”
Sportech is scheduled to announce its interim results for the six months ended June 30, 2021, on September 9, 2021. The group will provide a further update at that time.