Dynamic Odds acquisition update
Dynamic Odds acquisition update
Sydney, Dec 10, 2018 AEST (ABN Newswire) - The Board of The BetMakers Holdings Limited (ASX:TBH) (FRA:T07) (OTCMKTS:TPBTF) ("TBH" or the "Company") is pleased to update the market, in relation to the purchase of the Dynamic Odds (DO) business.

Further to the announcements released by the Company on 9 August 2018 and 29 August 2018, the Second Instalment payment of $1Mil has been paid as part of the transaction and relevant share documents have been transferred.

In addition, TBH would like to advise that it has established a line of credit for up to $500k to assist with cash flows. The material terms of the line of credit are set out below.

The Company is progressing well towards its target of profitability in Q1 CY19 (March quarter).


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.

     


Contact

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

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



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