Betmakers Technology Group Ltd (ASX:BET) Annual Report

Betmakers Technology Group Ltd (ASX:BET) Annual Report

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Annual Report
Annual Report

Sydney, Aug 25, 2020 AEST (ABN Newswire) – The 12-month reporting period has seen significant growth for BetMakers Technology Group (ASX:BET) (FRA:T07). Highlighting this growth further, are June 2020 revenues, having an annualised run rate of almost $14million.

The Company has consolidated its position as a core data and technology partner to the Global racing industry – for racing bodies and wagering operators – and we have seen growing demand for our digital products and services.

The board, management and staff remain mindful that this has been a very difficult period for many people around the world during the COVID-19 pandemic and there have been unprecedented challenges.

BetMakers employees have demonstrated exceptional service, going above and beyond during this period to ensure our customers have received uninterrupted delivery of our products and services.

In the FY2019 annual report it is noted that during FY2020 BetMakers would look to scale its extensive product and service offerings while also intending to launch new platforms into both domestic and global markets.

Some of the highlights of the year include:

– Growing annualised revenues to almost $14 million – from a base of approximately $0.5 million a month in July 2019 – and strongly finishing the year with June 2020 revenues more than $1.15 million.

– Expanding our international presence – as an established core partner to the Australian racing industry, we have made significant progress in establishing ourselves as the global leader in racing data and technology. This is reflected in our global deals with GVC and William Hill in the UK, as well as push into the US market including our partnership with U.S. racetrack Monmouth Park to deliver Fixed Odds racing in the state of New Jersey, and distribution deals with numerous other tracks across the US market. We see these as particularly exciting transactions as it positions the Company well to capitalise on the North American racing opportunity.

– Driving shareholder value and expanding our shareholder base – since the acquisitions of DynamicOdds and Global Betting Services during 2018, we have worked hard to deliver on our goals and drive shareholder value. This is reflected in our share price growth of 900%+ (from $0.045 at 30 June 2019, to $0.425 at 30 June 2020) and is further underpinned by our successful capital raise in June 2020, at which time the Company raised $35 million and welcomed a number of large institutional investors to our share register.

– Growing our customer and product base – we are now delivering more data and technology products to more customers than ever before. Our customer growth is reflective of our position as a global leader in the racing sector, and our product expansion is driven by our commitment to understand and deliver what our customers want.

One of our key focus areas for FY2021 is to continue to advance our position in the U.S. market; as this market opens on the back of sports betting, the company is well positioned to support the growth of the U.S. wagering market. We remain very confident about the potential of the U.S. racing market to deliver material growth for BetMakers.

One of the key observations in starting FY2021 is that our more recent product offerings such as Managed Trading Services, Platforms and Global Racing Network are seeing increased customer demand in the market. With these products going to market recently, it allows us to explore further opportunities, domestically within Australia and Internationally.

To view the Investor Presentation, please visit:
https://abnnewswire.net/lnk/OFF447B0

To view the Annual Report, please visit:
https://abnnewswire.net/lnk/L1FUV9XB

About Betmakers Technology Group Ltd

Betmakers Technology Group LtdBetmakers Technology Group Ltd (ASX:BET)  (FRA:T07) 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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