Appendix 4E and FY22 Annual Report
Sydney, Aug 26, 2022 AEST (ABN Newswire) - Betmakers Technology Group Ltd (ASX:BET) (TPBTF:OTCMKTS) achieved key milestones as it focussed on maximising revenue growth and executing on transformative deals in line with Australian and international strategic plans.
The Company delivered more than $90mil in revenue and a positive adjusted EBITDA.
The performance across its three divisions - Global Betting Services, Global Tote and Global Racing Network - showed strong overall growth and re-enforced the position of BetMakers as a leading B2B wagering technology company within the global landscape.
The further development of proprietary technologies to service the global racing industry - including wagering operators and racing bodies - has been supported by a targeted recruitment of key personnel for management and the Board.
We now have almost 500 staff worldwide and hold 45 regulatory licences to operate in more than 30 countries with over 60 wagering operators and 225 racing partner clients.
In establishing this world-class team across a wide international footprint, and together with the deals signed in FY22, I am especially pleased with the position it now places BetMakers to accelerate growth opportunities in each of its revenue divisions in FY23 and beyond.
The Company reported revenues of $91.6mil for FY2022, representing revenue growth of 371% compared with the previous year. The Company has also reported adjusted EBITDA of +$2.2mil.
The growth was largely driven by the expansion of the Company's Platform and Managed Trading Services offering under the Global Betting Services division; the expansion of content distribution rights and delivery to licensed wagering operators under its Global Racing Network division; and the full year recognition of revenues associated with the acquisition of the racing and digital assets acquired from Sportech PLC on 17 June 2021 as a part of the Global Tote division.
Finishing the year with an annualised run-rate revenue in excess of $100 million1 places the Company in a strong position for future growth.
In FY22, BetMakers invested in the development and growth of its team and will start the new year with almost 500 employees.
The culmination of this growth in talented people across geographies has given the Company the ability to successfully execute on the foundations that have been built - and the deals that have been executed - over the past number of years.
Key appointments for FY22 included the addition of two new Board members, Rebekah Giles and Anna Massion. These appointments were made in line with BetMakers' intentions to ensure highest levels of governance with a board composition that is diverse in its skillset and is aligned with the Company's global strategy.
During the year, the Company appointed former Caesars senior executive Christian Stuart to the key role of Chief Executive Officer of North America to help drive opportunities throughout this important market.
In addition, BetMakers also added to its Key Executive team across Legal and Technology with the appointments of former Racing Queensland Acting CEO Sam Adams (Chief Legal Officer) and highly experienced wagering executive Dan McDonald (Chief Digital Officer).
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To view the FY22 Results Presentation, please visit:
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.
Betmakers Technology Group Ltd