- Approvals from Northern Territory Racing Commission and relevant racing bodies have been received
- Acquisition will enable the Retail Wagering business unit to accelerate quickly into the current quarter
- Management expects the turnover for the Retail Wagering business unit to exceed $20M for the current quarter
Further to the announcement on the 13th of April, TopBetta has now completed the acquisition of the assets of online Australian corporate bookmaker, Mad Bookie Pty Ltd, including its customer database, clients and IP.
The necessary approvals required for the completion of the acquisition have now been obtained from the Northern Territory Racing Commission ("NTRC") and relevant racing bodies.
Mad Bookie will now operate under the TopBetta license through the NTRC, and TopBetta expect that it will be able to align the synergies of the businesses to create approximately $1M/annum of value.
TopBetta's CEO, Todd Buckingham, said: "We're excited about the acquisition of the Mad Bookie business and its potential to immediately accelerate the retail wagering side of our business."
"As mentioned previously, we continue to look out for similar deals both here and overseas in an effort to continue adding value to shareholders."
About Topbetta Holdings Ltd
The Company has built proprietary technology platforms that combine an online racing and sports wagering offering with a fantasy wagering platform and enables sports fans to compete against each other via online tournaments.
Topbetta Holdings Ltd