Betmakers Technology Group Ltd Stock Market Press Releases and Company Profile
Fully Funded to Complete GBS and DynamicOdds Acquisitions
Fully Funded to Complete GBS and DynamicOdds Acquisitions

Sydney, Aug 29, 2018 AEST (ABN Newswire) - The Board of The BetMakers Holdings Group Limited (googlechartASX:TBH) (googlechartTPBTF:OTCMKTS) is pleased to announce that it has placed, or received firm commitments for, an additional $3.0 million worth of shares from new and existing investors, taking the total amount raised from the recent entitlement offer to $4.5 million. The Board would also like to announce the following key updates:

- The Company is now fully funded to make the completion payments for the GBS and DynamicOdds transactions

- 100% ownership of DynamicOdds will take place on 31 August 2018 and GBS on 17 September 2018

- BetMakers has secured more favourable payment terms with the vendors of GBS

- Contract upgrades and extensions have been signed with Ladbrokes Australia and Neds.com.au

- Signing of second US greyhound product for distribution.

Entitlements Issue

BetMakers has placed, or received firm commitments for, an additional $3.0 million worth of new shares from new and existing institutional and sophisticated investors; taking the total raised in the entitlement issue to $4.5 million. Approximately $2.4 million received from existing shareholders for the shortfall placement is expected to be settled on 31 August 2018 with the balance to be settled to both new and existing shareholders after the issue of a cleansing prospectus.

Acquisition updates

Betmakers has negotiated more favourable terms with the vendors of Global Betting Solutions Pty Ltd ("GBS") with payment terms outlined below:

- $1M payable on - 17 September 2018;

- $2.5M payable on 31 January 2019; and

- $3.5M Payable on 30 June 2019.

Completion of the DynamicOdds transaction is scheduled to occur on this Saturday 1st September after which time the DynamicOdds business will be 100% owned by TBH. Completion of the GBS transaction is scheduled to occur on 17th September after which time the GBS business will be 100% owned by TBH. Through the recent capital raisings the Company is fully financed to fund the completion payments for both transactions.

Ladbrokes & NEDS contract upgrades and extensions

Australian wagering operators Ladbrokes Australia and Neds.com.au have both extended their Racing Data Delivery and Racing Price Manager Premium contracts with GBS. Both companies have also elected to upgrade to the DynamicOdds offering which will give them access to the DynamicOdds grids and risk management platform.

US Greyhound data and distribution deals

BetMakers have signed a second US data and distribution deal with US greyhound club, bestbets Jacksonville which hosts over 6,000 races annually. This agreement, along with the recently announced Palm Beach Kennel Club deal, now allows BetMakers to offer an additional 11,000 races to clients annually.

Profit guidance

As outlined in the July 2018 Investor Presentation*, BetMakers are reiterating that the business expects to deliver an operating profit for FY19

The business expects to return an operating loss for first half FY19 and transitioning to profit by the end of this period. It expects to have a strong 2nd half delivering a profitable full year result in FY19'

The Company would also like to reiterate its profit guidance of $4.0 million to $5.0 million for FY20.

*Assumptions based on previously stated assumptions in July 2018 Investor Presentation

The Company has engaged Canaccord Genuity Australia Limited ("Canaccord") to assist with the placement. Subject to completion of the placement, TBH will issue to Canaccord 4,000,000 unquoted options exercisable into fully paid ordinary shares in TBH on a 1:1 basis ("Options") on the following terms

- expiry date of 30 November 2020; and

- exercise price of 12.5 cents.

The Options will be issued under TBH's 15% placement capacity under ASX Listing Rule 7.1.


About Betmakers Technology Group Ltd

Betmakers Technology Group LtdBetmakers Technology Group Ltd (ASX:BET)  (OTCMKTS:TPBTF) 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. The Company operates a retail wagering business, offering consumers wagering, fantasy tournament and content products and services.

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Contact

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

Jane Morgan
Investor and Media Relations
E: investors@thebetmakers.com
M: +61-405-555-618



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