BetMakers Technology Group<\/a><\/em><\/strong> has recommended the deal, which will be considered at a meeting of shareholders on December 21.<\/p>\n\n\n\nThe operation includes Sportech\u2019s racing and digital assets in the United States, the United Kingdom and Europe.<\/p>\n\n\n\n
The Tote Business in the US comprises betting solutions, hardware and operational services for over 200 racetrack, casino and betting venues and customers across the United States, Canada and Latin America. <\/p>\n\n\n\n
The digital business provides white-label betting solutions to more than 25 customers in North America.<\/p>\n\n\n\n
The UK and European unit offers betting technology, parimutuel and comingling services to more than 35 customers across the UK, Ireland, Europe and Asia.<\/p>\n\n\n\n
The deal also covers QuantumTM Tote Technology, a tote betting engine used at events such as the Breeders Cup and Royal Ascot race meetings.<\/p>\n\n\n\n
The acquistion is intended to accelerate BetMakers\u2019 international growth plans, expandng its global customer base and capitalising on emerging opportunities in the US market.<\/p>\n\n\n\n
BetMakers\u2019 Managing Director, Todd Buckingham, said: \u201cThis acquisition will supercharge our entry into the US and position the company for substantial growth on the back of the emerging wagering opportunities in US racing, including fixed odds, where we believe we are well placed.<\/p>\n\n\n\n
\u201cThe acquisition would give us a meaningful presence in the US, including in 36 of the States and across more than 200 venues, 25 digital outlets and 9,000 betting terminals. <\/p>\n\n\n\n
“It will also greatly expand our global customer base across the UK, Europe and Asia and provides us with an opportunity to expand our product offering at scale in these and other regions.”<\/p>\n\n\n\n
The company believes that for the full year 2020, the business combined with BetMakers\u2019 existing operations would have delivered AU$56.1m in revenue and AU$7.7m in EBITDA, compared with BetMakers\u2019 stand-alone basis of AU$9.2m revenue and AU$0.8m EBITDA.<\/p>\n\n\n\n
If the acquisition is finally approved by the shareholders, BetMakers will pay Sportech AU$11.2m as a non-refundable initial payment. The balance of AU$45m will be payable upon completion.<\/p>\n\n\n\n
The operation will be funded through a combination of existing cash assets and an AU$50m fully underwritten share placement.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Australian firm has bought the firm’s tote and digital business in the US, Europe and the UK.<\/p>\n","protected":false},"author":2,"featured_media":12287,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Australian betting technology firm BetMakers has agreed to acquire Sportech PLC's global racing and digital assets across the US, UK, and Europe for AU$56.2m. This strategic acquisition, pending shareholder approval, is set to significantly expand BetMakers' B2B footprint, particularly in the emerging US wagering market, and enhance its product offering with Sportech's tote and digital solutions. The deal is projected to substantially boost BetMakers' pro forma revenue and EBITDA for FY2020.","focusai_entities":"BetMakers, Sportech PLC, BetMakers Technology Group, Todd Buckingham, QuantumTM Tote Technology","focusai_location":"Australia, United States, United Kingdom, Europe, Canada, Latin America, Ireland, Asia","focusai_target_profile":"ceo_executive (1.0), regulator (0.7), compliance_legal (0.8), operator_casino (0.9), product_ux (0.7), tech_data (0.9), investor_analyst (1.0), supplier_vendor (1.0), journalist_researcher (1.0)","focusai_suggestions":[{"label":"US Fixed Odds Strategy","query":"What specific regulatory and commercial hurdles does BetMakers anticipate in accelerating its US fixed-odds strategy post-acquisition, given the fragmented state-by-state licensing landscape?"},{"label":"Integration Synergies","query":"Beyond the stated revenue and EBITDA projections, what are the key operational and technological integration synergies BetMakers expects to realize from combining Sportech's assets, and what is the timeline for achieving these?"}],"footnotes":""},"categories":[16336,157],"tags":[289,15912,233],"class_list":["post-12285","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-australasia-news","category-business-news","tag-australia","tag-betmakers","tag-sports-betting"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/12285","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=12285"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/12285\/revisions"}],"predecessor-version":[{"id":12288,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/12285\/revisions\/12288"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/12287"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=12285"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=12285"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=12285"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}