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.
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