BetMakers Technology Group (ASX:BET) set to raise $35m to help expand into the US

Company News

by Rachael Jones

BetMakers Technology Group (ASX:BET) is pleased to announce that it has received firm commitments to raise $35 million, before costs, by way of a placement to sophisticated and institutional investors at an offer price of $0.37 per new fully paid ordinary share.

Following the recent announcement of an exclusive 10-year deal to distribute and manage Fixed Odds race betting in New Jersey in the US, BetMakers continues to see a number of organic and inorganic opportunities to accelerate its growth, including its expansion into the US.

Proceeds from the Placement will provide growth capital to BetMakers to pursue and execute these initiatives.

BetMakers Technology Group (ASX:BET) are trading 13.58 per cent higher at 46 cents.

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.