The BetMakers Holdings is pleased to announce that it has secured a firm commitment for a strategic investment from Las Vegas-based international wagering and gaming industry investment firm, Tekkorp Capital LLC.

The Company has secured a $4 million funding solution in respect of the acquisitions of DynamicOdds Pty Ltd, C.D.K Software Limited and Global Betting Services Pty Ltd

Tekkorp Capital, controlled by President and CEO, Matt Davey, has provided a firm commitment to take a 19.99% stake in TBH under a placement of 55,991,335 fully paid ordinary shares in the Company (“Placement Shares”) at a price per share of $0.03 to raise approximately $1.68m (“Placement”). In conjunction with the investment, the Company has agreed to appoint a nominee of Tekkorp Capital as director of the Company. 

BetMakers CEO, Todd Buckingham, commented: “Tekkorp Capital is our ideal strategic investor as they understand exactly what we are doing and the size of the global opportunity with the track record to assist BetMakers in executing the global growth strategy.” 

Mr Davey was recently CEO of NYX Gaming Group, which was sold to Scientific Games in January 2018, for more than $800m. As CEO of the NYX Gaming Group he developed the corporate strategy that generated significant revenue growth, led to a successful IPO, acquired seven companies, including OpenBet, which powers the largest share of the world’s online bets, and became one of the leading suppliers of digital gaming content and technology. 

BetMakers Chairman, Nick Chan, commented: “The Board was pleased to accept an investment from Tekkorp Capital at an important phase of the Company’s development.” 

“The Company has been looking for the right partner to help it roll out its range of technologies and products into the global market and Tekkorp Capital certainly fits all of our criteria. The Board and management team at BetMakers look forward to working with Matt on executing at the next level,” Mr Chan said. 

Mr Davey commented: “We have observed the BetMakers team and their unique products for some time and believe their strategy to offer high quality B2B technology products and services for wagering operators and racing bodies is attractive, especially with the expansion of international markets such as the US and the growing need for integrity-led systems. We look forward to supporting the next phase of development of the BetMakers”. 

The placement is expected to be completed within 5 business days. The Placement Shares will be issued without disclosure under the Company’s placement capacity under ASX Listing Rules 7.1 and 7.1A.