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 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.
Investor & Media Relations
Link: The Global Tote Update