BetMakers revenue up 272% in Q4
BetMakers Technology Group has reported record revenues of $6,221,685.70 under the conditional commercial agreements with the Waterhouse Group.
The Company is also pleased to announce that, as a result, the Class A Performance Right issued to Waterhouse VC Pty vested and was converted into 34,564,921 options exercisable into ordinary shares in the company with an exercise price of $0.18 and an expiry date of 16 July 2023. Waterhouse VC has elected to exercise the 34,564,921 Options and, accordingly, the Company has today issued 34,564,921 Shares for a total aggregate exercise price of $6,221,685.78. A cleansing statement in respect of the Shares is set out below and an Appendix 2A in relation to the quotation of Shares will be lodged separately.
Tom Waterhouse, CEO of Waterhouse VC, commented: “BetMakers is an attractive investment proposition in global racing, with unique access to valuable race data and bespoke pricing through their Managed Trading Service platform. Waterhouse VC is delighted to convert its first tranche of Performance Rights to provide further funding to this exciting business. We look forward to our ongoing relationship with BetMakers over the years to come.”
BetMakers CEO, Todd Buckingham commented: “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. The deal with the Waterhouse Group not only contributed to
BetMakers’ growth revenues over the past year but also has helped BetMakers develop these unique products and establish itself as one of the leading B2B technology providers for the racing industry. We are also looking forward to updating the market with further results and updates in the coming weeks.”