Catalyst Media softens blow from failed Greyhound track bids

Retail betting service supplier Sports Information Services (SIS), in which Catalyst Media Group holds a 20.5% stake, has secured rights and media agreements for its greyhound and horseracing content.

Having warned in May that it was at risk of no longer being able to provide a reliable greyhound service, SIS has since secured a number of greyhound track media rights, including extensions from Ladbroke Coral that guarantee a significant and viable greyhound service over the next five years.

In addition to this it has also locked in supply agreements for its greyhound and horseracing content to major UK bookmaking groups through 2022, achieving the company’s key strategic objective of sustaining its current position in the UK retail licensed betting office supply market.

It is expected that SIS will report net revenue in the vicinity of £12m after having disposed of certain intellectual property rights and hardware belonging to SIS Live, while it is now expecting a 50% fall in its underlying operational profits for the year versus a 60% decline it had initially projected back in May.

By Friday afternoon Catalyst shares rose 11% to 74.00p