UK gambling operator Sportech saw dramatically increased losses last year as the costs of US sports betting expansion mounted and one of its Connecticut retail venues failed to live up to the company’s expectations.

Figures released Thursday show the Bristol-based Sportech generated revenue of £64.8m in 2019, a modest 2% improvement over 2018’s result. Gross profit was up £1m to £46.9m, adjusted earnings rose a similar amount to £7.5m while the company’s pre-tax losses more than tripled to £8.4m.

The tide of red ink came courtesy of a £5m impairment charge on its Bobby V’s Restaurant and Sports Bar in Stamford, Connecticut, as well as costs associated with Sportech’s ongoing efforts to reinvent its US-facing race betting operations to take advantage of the country’s rapid transition to a legal sports betting environment.

Sadly for Sportech, Connecticut’s fractious gaming market shows no signs of breaking the current impasse that is keeping legal wagering from becoming a reality. But the company continues to develop a B2B sports betting platform while conducting a “relentless professional pursuit” of a state betting license.