Betmakers Technology Group saw FY22 revenue rise 371% to $91.7 million but net loss widen 411% to $89.2 million.

Revenues from ordinary activities rose 371.1% to $92 million $40 million in Global Betting Services, $47 million in Global Tote, and $4 million in Global Racing Network.

Adjusted EBITDA of $2.2 million, up from an adjusted EBITDA loss of $3 million in FY21.FY22 gross margin rose to 72%, up from FY21’s gross margin of 52%.Loss from ordinary activities increased 411.1% to $89.2 million.

Betmakers’ CEO, Todd Buckingham, reiterated the focus on revenue growth, saying:

‘In establishing this world-class team across a wide international footprint, and together with the deals signed in FY22, I am especially pleased with the position it now places BetMakers to accelerate growth opportunities in each of its revenue divisions in FY23 and beyond.’