- Sale of retail assets in $6M deal including ongoing revenues - initial $3M received.
- Proposed acquisition of two established, profitable businesses - DynamicOdds and Global Betting Services - to strengthen the TBH technology stack.
- Shareholders approve company name change to The BetMakers Holdings Limited.
- Entitlements Offer announced, which is looking to raise $6.7M.
- Global Tote update.
CEO of The BetMakers Todd Buckingham commented: "This quarter has been significant for The BetMakers in its goal of becoming the wholesale wagering operator of choice for the gambling market. With the completion of the sale of the TopBetta and Mad Bookie brands we are now in a position to transition towards this goal."
"Following the sale of the retail assets, the Company announced that it is acquiring two well-established and profitable companies, DynamicOdds Pty Ltd ("DO" or "DynamicOdds") and Global Betting Services Pty Ltd ("GBS"). Each of DO and GBS has produced essential tools required to manage a digital wagering book and both already have a number of Australian bookmakers in place as customers."
"In order to finalise these acquisitions, we announced that we are inviting shareholders to participate in an accelerated non-renounceable pro-rata entitlements offer to raise up to $6.7M. These two acquisitions will assist the Company to accelerate its execution of the wholesale strategy."
"This is an extremely exciting time for TBH and we are looking forward to updating the market on the next steps for Global Tote, and additional on-boarding of clients on both the DO and GBS offerings in the coming months."
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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.
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