Sydney, May 2, 2017 AEST (ABN Newswire) - The Board of TopBetta Holdings Limited (ASX:TBH) ("TBH" or the "Company") is pleased to advise that the recently announced acquisition of Australian racing and sports wagering company, Mad Bookie Pty Ltd ("Mad Bookie"). by TopBetta Pty Ltd ("TopBetta) has now been completed.

Highlights:

- 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

TopBetta Holdings Limited ASX TBHTopBetta Holdings Limited (ASX:TBH) is licensed to conduct race wagering and sports betting under the Bookmakers and Betting Exchange Act 1998 (Northern Territory).

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.

     


Contact

Charly Duffy
Company Secretary
E: companysecretary@topbetta.com
T: +61-409-083-780

Jane Morgan
Investor & Media Relations
E: investors@topbetta.com
T: +61-405-555-618



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