Business
Terms land for $50m BetMakers raising to fund overseas acquisition – The Australian Financial Review
BetMakers has fired off terms for its $50 million capital raising to finance its purchase of London-listed Sportech PLC’s racing and digital assets.
The acquisition includes Sportech’s tote businesses in the Americas, the UK and Europe as well as its tote betting engine called Quantum and its Americas digital business, which provides white label betting technology to 25 North American customers.
When combined, BetMakers existing operations and the new acquisitions would have generated $56.1 million revenue and $7.7 million EBITDA in fiscal 2020, compared to BetMakers standalone $9.2 million revenue and $0.8 million EBITDA.
BetMakers provides…
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