BetMakers Technology raises $35M to expand into the U.S.

Business News

BetMakers Technology Group HAS 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.

Managing Director Todd Buckingham said this placement puts BetMakers in a strong position as it continues to accelerate its growth plans.

“These plans include the distribution of Fixed Odds race betting into the U.S., the expansion of our Managed Trading Services offering globally and the distribution of international racing content to wagering operators in Australia, the U.S. and the U.K.,” he said.

“We are grateful for the ongoing support shown from our existing investor base as well as the strong interest from new institutional investors in BetMakers,” he added.