Further to TopBetta's announcement on 17 February 2017, the Company is still awaiting approval from the Northern Territory Racing Commission (NTRC) for its subsidiary TopBetta Pty Limited (TopBetta) to offer betting services by reference to The Global Tote product as a Northern Territory licensed bookmaker. The Company notes that this approval does not affect The Global Tote from being offered by bookmakers licensed elsewhere.
TopBetta CEO Todd Buckingham commented, "We appreciate that the delays in receiving the necessary approvals from the Northern Territory Racing Commission is frustrating, but respect the regulatory processes of the Northern Territory, however, we would like to thank shareholders for their patience during this time."
"With all technology and implementation now complete, the Company is in a position to launch The Global Tote product once NTRC approval is received. We know this has created a lot of interest around the world and we expect to be live soon."
The Company looks forward to updating the market on progress with The Global Tote product.
About Topbetta Holdings Ltd
TopBetta Holdings Limited (ASX:TBH) is licensed to conduct race wagering and sports betting under the Bookmakers and Betting Exchange Act 1998 (Northern Territory).
The Company has built proprietary technology platforms that combine an online racing and sports wagering offering with a fantasy wagering platform and enables sports fans to compete against each other via online tournaments.
Investor & Media Relations
Link: The Global Tote Update