The Australian wagering tech firm, BetMakers, has secured a substantial AUD 26.3 million (USD 20.4 million) capital influx via a share subscription program. This figure significantly surpassed their initial projections!
Their initial target was AUD 10 million, achieved by offering current stakeholders a chance to acquire additional shares at a reduced rate. However, the enthusiastic shareholder response resulted in BetMakers amassing AUD 26.3 million.
This financial boost will primarily support BetMakers’ international expansion plan. A key component is their purchase of Sportech, an international sports wagering technology supplier, for a considerable £309 million (USD 422 million). This transaction encompasses Sportech’s tote and digital holdings, which will be valuable additions to BetMakers’ offerings.
BetMakers’ CEO, Todd Buckingham, expresses strong confidence in the future. He posits that this acquisition, coupled with their inherent growth, will cement BetMakers’ standing as a dominant force within the global wagering sector.
The firm also highlighted that this reduced share issuance prioritizes their dedicated, longstanding shareholders. They aim to provide them an opportunity to expand their ownership in BetMakers and recognize the remarkable backing from individual investors who have accompanied them throughout their journey.
