88% Quarter on Quarter Growth in Tournament and Wagering Revenue
Sydney, July 5, 2016 AEST (ABN Newswire) - The Board of TopBetta Holdings Limited (
ASX:TBH) ("TopBetta" or the "Company") is pleased to provide shareholders with an update on the Company's activities during the period from July 2015 to June 2016.
Highlights:
- Wagering turnover continued strong growth with a 42% increase quarter on quarter and 264% increase relative to the corresponding period last year
- Revenues for the 3 months ending 30 June up by 88% relative to the March quarter
- A $250,000 tournament was held over Brisbane Racing Carnival
- Over 1,500 individual tournaments were held during the quarter paying out $1,750,000 to the winners
The Company has seen unaudited turnover and revenues increase through June as shown in the table (see link below). Turnover in June alone was $4.4 million, more than double the turnover of the entire first quarter of the year.
During May and June, the Company held its largest ever tournament with a prize pool of $250,000, which ran over four weekends during The Brisbane Racing Carnival, culminating on the Stradbroke Handicap race day.
With addition of the King of the Carnival tournament running over several weeks, the Company's tournaments platform is continuing to provide a successful complementary product keeping customers increasingly engaged with TopBetta's traditional bookmaking model.
TopBetta's Managing Director, Todd Buckingham commented: "We are very excited by these continued growth results which show the increasing number of people engaged in the TopBetta platform. We have also strengthened our team significantly since listing with the addition of experienced professionals: a sales manager and team, a new Head of Product, and a new Chief Operating Officer. The addition of these new members, combined with the commitment of the entire team, is already producing tremendous growth, and we are only just beginning. We look forward to following through on our strategy and increasing shareholder value by continuing this growth."
To view tables and figures, please visit:
http://abnnewswire.net/lnk/9GK955RM
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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