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New Aim for world's oldest football gaming business

The owner of the football pools has recommended a sale to Burlywood Capital, which would float a new company on the junior market
New Aim for world's oldest football gaming business

The oldest football gaming business in the world looks set to gain a new lease of life via the launch of a new Alternative Investment Market (Aim)-traded company. Gaming business Sportech (SPO) has been approached by venture capital house Burlywood Capital with a £100m offer for its 93-year-old football pools business.

IC TIP: Hold at 80p

Burlywood, a fund set up by Sportingbet founder Mark Blandford and former investment banker Andrew Burnett, is aiming to float the new entity on Aim, which would house the pools business. The acquisition would be financed through a combination of equity from institutional investors and a new £30m debt facility, which has been approved by a credit committee.

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