Betmakers (ASX:BET) Waterhouse deal generates over $6.2m

Company News

by Lauren Evans

Wagering services provider, BetMakers (ASX:BET) has recorded over $6.2 million in revenue under the conditional commercial agreements with Waterhouse Group from the commencement of agreements on 22 May 2020 through to 30 June 2021. 

In partnership with the Waterhouse Group, BetMakers has provided data and technology for two significant wagering products, tomwaterhouse.com betting application and B2B Managed Trading Services (MTS) Global.

The two products built and operated for the Waterhouse Group, not only contributed to BetMakers revenue growth over the last year but also helped establish BetMakers as one of the leading B2B technology providers in the racing industry.

Waterhouse has elected to exercise 34,564,921 options immediately having exceeded the minimum revenue threshold. Waterhouse VC has paid $6,221,685.78 to BetMakers on exercise of the options.

BetMakers CEO, Todd Buckingham said, “as a result of the company’s exceptional performance over the period, we’re extremely pleased to be able to issue Waterhouse VC with the first tranche of shares.

Shares in Betmakers (ASX:BET) are trading 1.9 per cent higher at $1.07. 

 

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