Matt Tripp buys into ASX-listed Betmakers

Business News

BetMakers Technology has raised a further $75 million in capital and announced a new partnership with online wagering industry leader Matt Tripp.

BetMakers is currently engaged with a number of parties in relation to opportunities which leverage BetMakers’ scalable technology and data platform and looks forward to Mr Tripp’s assistance with these exciting initiatives.

In addition to reviewing potential opportunities for BetMakers to provide B2B services in the Australian wagering market, the Company is also looking at opportunities in the U.S., with a particular focus on those which can leverage BetMakers’ anticipated acquisition of the tote and digital business from Sportech PLC.

All funds raised will be used to accelerate growth, specifically in pursuing and executing strategic opportunities. Following completion of the capital raising and the transaction with Sportech, the Company will have approximately $110m in cash on hand.

BetMakers Chief Executive Officer Todd Buckingham said: “We are thrilled to have secured Matt Tripp’s backing, both in the form a significant investment in the Company and also as a key advisor on strategic and transformational deals that he will now pursue. Matt has a proven track record over a brilliant career in the online wagering industry and his support for BetMakers is a great vote of confidence in our Company.”

Matt Tripp said: “BetMakers has cemented itself with a compelling proposition in the global racing wagering market. They have built a formidable team with a highly trusted brand and established a global footprint with a large customer base. I am delighted to invest into the Company and take on a role to assist in growing the business at scale globally. I see clear opportunities to support that growth through inorganic and organic deals both in Australia and internationally.”

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