Global Tote Signs Deal with Australian Online Bookmaker Neds
- Neds.com.au reaches agreement with The Global Tote
- Launch expected in Q1 CY18
- Update on Ladbrokes.com.au integration with The Global Tote
Neds CEO, Dean Shannon, said:
"The Global Tote will play a key role in our Australian and international plans for the Neds business.
"The deal with The Global Tote will help us to customise our offering to give our punters the best available pricing in the market."
TopBetta Holdings Ltd CEO, Todd Buckingham, said:
"Being a wholesale tote, The Global Tote allows wagering operators to customise pricing using a range of products including other totes and SP pricing to deliver some of the most competitive products in online wagering.
"Neds.com.au have shown in a short space of time that they are innovative, agile and ambitious in their bid to make a mark in the Australian and global markets, and we are excited that they have embraced The Global Tote under the terms of a commercial in confidence contract."
Under terms of the deal, the provision of the services will be subject to standard approvals from the Alderney Gambling Control Commission and either party may terminate the agreement by giving 90 days' notice. As there is no volume commitment, the financial implications are unable to be quantified at this stage.
Integration of The Global Tote into the neds.com.au is expected to begin in the coming weeks, with a live date for offering Global Tote pricing expected during the 1st quarter CY18.
Additionally, as an update to The Global Tote's integration with Australian online bookmaker Ladbrokes.com.au, work has commenced and it is expected to be completed during the 1st quarter of CY18.
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