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November 20, 2020 REAL ESTATE 

Deal reached for sale of Sports Haven property

PHOTO | NEW HAVEN BIZ Sports Haven on Long Wharf Drive in New Haven may be demolished to build a truck lot under a new proposal.
By Michelle Tuccitto Sullo

Sportech PLC, a United Kingdom-based betting technology business, has reached an agreement to sell its Sports Haven property in New Haven for $6.75 million.

The Criterion Group LLC of New York City, a real estate development firm, plans to purchase the site, according to an announcement.

The deal is still subject to the buyer finishing inspections and conducting due diligence at the 600 Long Wharf Dr. property, a process expected to be finished by late March.

Sportech Venues Inc., a division of Sportech PLC, holds the exclusive license for off-track betting in Connecticut, with a portion of wagers going toward the Connecticut General Fund and municipal tax funds. It operates wagering venues and sports bars around the state, including at the Long Wharf Drive location.

Sportech indicated it decided to sell the property both to create further investment capital for its Connecticut business and to strengthen its financial position.

Once the sale is finalized, Sportech plans to enter a $300,000 lease to use the property for six months. During this time, Sportech plans to evaluate its options for alternative locations for its Winners business and North American headquarters, the company indicated via email Thursday.

Sportech PLC works with gaming companies, sports teams, racetracks, casinos and lottery clients around the world. Globally, it has more than 29,000 betting terminals deployed to some 400 clients in 38 countries. It operates in 36 states in the U.S.

Criterion, which has developed residential and mixed use properties, did not immediately respond to a request for comment on its future plans for the site.

Contact Michelle Tuccitto Sullo at msullo@newhavenbiz.com.

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