Collins House, Rutland Square,
Edinburgh, EH1 2AA,
United Kingdom
Open Letter to Sportech Limited Shareholders
Dear Shareholder, 26 October 2026
H1 2026 Interim Results – Half Time Scorecard
We are pleased to provide shareholders with an update on Sportech Limited’s performance for the six months ended 30 June 2026 and the progress of our digital transformation.
H1 2026 marked the start of our digital build-out with the launch of the new MyWinners.com platform on 27 January 2026. We exited the loss-making Sports Haven and opened our blueprint East Haven off-track betting venue in December 2025. The result has been revenue growth in key areas, improving margins, and a business firmly on a digital transformation journey.
Headline Financial Performance (unaudited)
• Revenue of £9.9m (H1 2025: £11.0m), reflecting the Sports Haven exit, licensing closure of south American region, and a weaker US dollar.
• Gross margin improved by 2.7 points to 57.5% (H1 2025: 54.8%).
• Adjusted EBITDA up 17% to £0.90m (H1 2025: £0.77m), with margin expanding to 9.1% (from 7.1%).
• Loss before tax reduced to £0.16m (H1 2025: £0.26m, or £0.41m excluding a one-off credit).
• Cash of £2.4m with no external borrowings (31 December 2025: £2.2m).
CT Venues continue to carry the Group, with Venues EBITDA up 15% in US$ (10% in GBP). Sports betting commission rose 21% to $1.74m driven by a better hold (GGR) and increased online commissions. Digital share of pari-mutuel handle was 28% in H1 (FY 2025: 23%), rising to 30% through Q3.
The new MyWinners platform is live for Connecticut and out-of-state customers, delivering racing, games, contests and jackpots in one app. The new East Haven has added meaningful handle, with the important US Triple Crown horse racing, handle growing 10% to $4.82m.
Looking ahead, our H2 Playbook focuses on four cornerstones:
- optimising costs through technology and AI enhancements,
- accelerating the digital transformation,
- geographic expansion beyond Connecticut, primarily focused on B2C opportunities, and
- enhanced business planning and agility with improved analytical capabilities.
Current FY26 Adjusted EBITDA guidance is £1.6–£1.7m (+30% vs 2025).
The bottom line is a leaner, higher-margin business led by a growing digital channel. Investment in our technology stack and brand marketing is expected to yield further growth.
Your Board is focused on progressing Sportech’ s business and we appreciate your continued support.
Yours sincerely,
Richard McGuire
Chairman