Stocks of the Hour: SKY, BetMakers & Costa Group

Company News

by Lauren Evans

SKY Network Television (ASX:SKT) has successfully extended its contracts for broadcasting rights, to the NRL and New Zealand Rugby League for another six years. Both associations have agreed to collaboration with SKY to digitise coverage of the competitions, in a bid to retain existing audiences and attract tech-savvy new viewers. Shares in Sky Network Television (ASX:SKT) are trading 3.2 per cent higher at $0.16.

Wagering services provider BetMakers (ASX:BET) is ramping up the company’s technological advancement, having acquired new databases, technologies and platform assets. The company has announced the acquisition of racing database developer Form Cruncher’s IP, and racing database for up to $2 million. The booming $963 million company has also snapped up the digital instrument and IP used for operating sweepstakes on Swopstakes’ betting platform. Shares in BetMakers Technology Group (ASX:BET) are trading 0.4 per cent lower at $1.18.

Costa Group Holdings (ASX:CGC), a leading grower, packer and marketer of fruits and vegetables, has entered into a binding agreement to acquire 2PH Farms, the largest citrus grower in northern Australia.The upfront funding requirement is approximately $219 million dollars, to be funded by a renounceable entitlement offer of $190 million and existing debt facilities.The transaction is expected to complete by late July 2021. Shares in Costa Group Holdings (ASX:CGC) last traded at $3.40.

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