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Veltyco tumbles after warning of losses, creditor concerns

Fri 15 November 2019 12:00 | A A A

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(Sharecast News) - Shares in Veltyco plummeted on Friday after it warned it may struggle to remain afloat as continues to trade at a loss on a monthly basis.

The gambling marketing company said that, while its Bet90 sportsbook and casino business continues to trade in line, income from the its affiliate business is currently minimal and below management expectations due to reduced activities.

The AIM traded company is exploring funding options as it continues to be reliant on being able to manage its creditors, which were still materially in excess of current cash resources.

As a result, Veltyco warned that if short term trading falls short of expectations and the group continues to trade at a loss, its ability to continue operating and to meet its liabilities will be materially impacted

Veltyco shares were down 37.93% at 2.25p at 1235 GMT.

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