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Sports gambling operator Sportech announced that a complete agreement had been entered into under which FP Acquisitions – a newly incorporated private limited company controlled by funds advised by OpCapita – would acquire the Football Pools business for a total cash consideration of £83m on a debt free, cash free basis.
Football Pools, in which players choose up to 12 matches they predict will end as a draw, was once the most popular method of betting on football, attracting millions of punters during the 1970s and 1980s. But it was hurt by the launch of the National Lottery in 1994, and customer numbers have fallen dramatically. It was played by 215,000 people in 2016, when it provided £28.4m in revenues for Sportech.
