Knowing full well that the entire bureaucratic procedure can take an inordinately long time, UK online gambling group Sportech still went ahead with its claim to recover against HM Revenue and Customs some GBP 40 million in overpaid VAT on its Spot the Ball game offered back in 1979 until 1996. A securities analyst issued a cautionary note to potential and current investors that whatever the outcome, nothing is assured one or the other and the entire process can take years to resolve. In any case, the analyst further explains that the claim is not inputted into current valuations of the firm. This only means the value of Sportech can go up suddenly with prospects of a positive outcome since the broker estimates the entire recoverable amount could potentially reach GBP 100 million if interest is included in computations by the time the issue will finally be resolved.

In the meantime, investors are advised to keep their fingers crossed for the final result.

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