The Company has since been notified by Ladbrokes Australia that its submission of the commercial agreement ("Agreement") with The Global Tote to the Northern Territory Racing Commission ("NTRC") has not been approved in its current format. Ladbrokes and The Global Tote are reviewing the Agreement with a view to making any changes that will allow the Agreement to be re-submitted to the NTRC imminently for reconsideration and approval.
Ladbrokes' Chief Executive Officer Mr Jason Scott said: "Ladbrokes is committed to working with The Global Tote and is in a position to go live once regulatory approval is confirmed."
TopBetta Managing Director Todd Buckingham said: "We look forward to updating the market on next steps for The Global Tote platform in the near future, but we are happy to have completed the technical integration with Ladbrokes."
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.
Investor & Media Relations