Publishing results for the year to December 31, 2013, Sportech has reported a three per cent rise in profits (EBITDA) to £26m and a two per cent increase in revenue to £110m.
The company, which last year sold its loss-making i-gaming business for £3m, said it was now well placed to tackle the emerging US market.
CEO Ian Penrose said: "The group has delivered a good set of results in a transformational year. We have strengthened the management team and board, invested cash of £22m in the group and completed a number of corporate transactions to increase our focus and operational capabilities.
“Our US-based businesses now account for 60 per cent of group revenues and we are particularly pleased with their strong profit growth, driven primarily by the technological investment in our core racing and digital business.
“Since the turn of the year, we have launched Connecticut's only legal website for betting on horseracing and augmented our retail estate by opening a 10,000sq.ft innovative sports bar and betting venue in Connecticut. The first in a chain of similar venues is to be opened in California later this year."
Penrose added: “We remain well positioned for future growth in the US market and, with the strong cash flows from our Football Pools business, we have entered 2014 with confidence."
