Quarterly Activities Report
- Acquisition of leading global wagering service provider, Global Betting Services Pty Ltd
- Acquisition of wagering data provider, DynamicOdds Pty Ltd
- Completion of capital raising through Entitlement Offer
- Company on track to move into profitability, expected in March 2019 quarter
The Company had an underlying EBIT loss of $1.27M for operating activities during the September quarter.
While The Betmakers' cash position was $252k at the end of the reporting period, the Company notes that, in October, it received $770k from R&D activities and an additional $250k payment as part of the sale of TopBetta Pty Ltd and the associated retail brands to PlayUp Australia Pty Limited. Further payments of $2.75m are due from Play Up in the December Quarter.
The Company would also like to advise that it is on track to achieve profitability, which is expected within the March 2019 quarter, with the agreements that have been secured and deals that have been announced to the market.
During the December quarter, the Company expects 'outflows' of $3.3M, which includes a $1.0M payment as part of the acquisition of the DynamicOdds business, to be offset by expected 'inflows' to amount to $5.2M.
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About The Betmakers Holdings Limited
The Betmakers Holdings Limited (ASX:TBH), (OTCMKTS:TPBTF) (FRA:T07) formerly TopBetta Holdings Limited, 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. 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.
The Betmakers Holdings Limited