Sportech Racing BV, Sportech's Dutch subsidiary is now part of RBP Luxembourg, following a successful bid of €3.25m. The well-known sports betting bookmaker's Dutch trading arm practically plays in a league of its own when it comes to horse-racing and tote betting in the Netherlands. It runs 47 betting stores all over the country, and its site runnerz.nl is one of the most popular among Dutch punters. With a newly acquired license, Sportech seems to have made quite a favorable negotiation as far as fees are concerned.
The company will receive a starting fee that amounts to €2.8m as soon as the deal is sealed, and another €450,000 in January 2019. CEO of Sportech Andrew Gaughan noted the interest of the company to expand on its US-based audience. He also announced his enthusiasm on Sportech's license extension that will help solidify the company's overall management realignment. Mr Gaughan mentioned that the collaboration with RBP will be a long-term one, through which Sportech will offer their tote services, and on the other hand provide RBP's French racing pool betting to their existing customers. The deal is yet to be finalized and approved by Luxembourg regulatory boards in December 2018.