Business
Why the BetMakers (ASX:BET) share price is crashing 15% lower today
The BetMakers Technology Group Ltd (ASX: BET) share price is crashing lower on Friday after the release of an update on its acquisition plans.
In morning trade, the betting technology company’s shares are down over 15% to 60 cents.
What happened?
Earlier this week BetMakers launched and subsequently received firm commitments for a $50 million equity raising to fund the acquisition of the Tote and Digital Business assets of leading international online sports betting company Sportech for $56.2 million.
This acquisition is intended to accelerate BetMakers’ international growth plans and significantly expand its global customer base and strategic position to fully capitalise on emerging opportunities in the U.S. market.
To say it…
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