Completed Acquisition of Mad Bookie
- 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:TBH) is an ASX-listed holding company and a global provider of online wagering products and services to both wholesale and retail markets through its various wholly owned subsidiaries. TopBetta Pty Ltd operates a retail wagering business, offering consumers wagering, fantasy tournament and content products and services. Global Tote Australia Pty Ltd conducts TBH's Wholesale Business, which includes operating and licensing its wholesale tote product which enables licensed wagering operators, including corporate bookmakers and tote operators from all over the world, to participate in global pools. The Wholesale Business is conducted under a B2B licence granted by the UK Gambling Commission to Global Tote Limited, a company incorporated in Alderney, UK.
Topbetta Holdings Ltd