BET Signs Deal with Penn National Gaming
Sydney, June 30, 2022 AEST (ABN Newswire) - BetMakers Technology Group (
ASX:BET) (TPBTF:OTCMKTS) is pleased to announce that the Company has been awarded the rights to offer Penn National Gaming's ("Penn") racing content internationally for fixed odds, booked bets and exchange wagering where applicable, outside of the US and Canadian markets. These rights include over 946 race meeting a year for distribution from 1 July 2022 to globally licensed wagering operators.
Highlights
- BET awarded rights to offer Penn National Gaming's racing content outside of the US and Canadian Markets, for fixed odds, booked bets and exchange wagering where applicable
- BET will distribute Penn's National Gaming's racing content including data and race vision for over 900 race meetings a year to its customer base
- Global Racing Network will now distribute more than ~1,400 race meetings each year from the North American market
BetMakers's Global Racing Network currently delivers international racing content from more than 30 countries and offers rights holders new markets in which to monetize their racing. The commercial model of the Global Racing Network is to provide rights holders in any country with incremental revenue streams by exporting their existing content into new international markets in a bundled package for wagering operators. BetMakers receives a fee based on a percentage of turnover generated by wagering operators betting on the products in these new markets, while delivering rights holders new revenue.
Under the commercially sensitive agreement, the parties have agreed to a revenue share arrangement, with Penn to be paid a minimum guarantee amount annually. The term of agreement commenced on signing and will continue until 31 December 2025.
Kerry Gatten, Partnerships Manager of BetMakers' Global Racing Network, stated: "We are delighted to offer Penn's first-rate content to a global audience and increase the awareness of the valuable content US racetracks have to offer. It is exciting that we get to deliver Penn's extensive racing content into our network of operators globally."
About Betmakers Technology Group Ltd
Betmakers Technology Group Ltd (ASX:BET) (OTCMKTS:TPBTF) 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.
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