BetMakers Signs Agreement with Pronet Gaming to Enter British Market
Posted on April 27, 2021 | 11:16 am
BetMakers Technology Group, the Australian race betting operator and technology provider, has announced it has reached an agreement with Pronet Gaming, an iGaming platform developer from Great Britain.
The deal will see BetMakers provide its horse racing data and live streams to Pronet, covering around 250,000 races which take place in over 20 countries around the world, including Australia, the United Kingdom, Ireland, and the United States.
Under the terms of the agreement, the supplier will also receive from BetMakers data on harness racing and greyhound events, along with live streams from around 2,500 races each and every week.
Strengthening Sportsbook Offering
Pronet intends to use the benefits of this partnership to strengthen its overall sportsbook offering and continue to grow in various markets around the globe. Their particular focus is now on Africa, where they just entered the market in Cameroon.
On the other hand, BetMakers is keen on expanding its business into new territories, especially in Europe and the United States. For the first half of the 2020-2021 fiscal year, the Australian company recorded revenues of 68.6 million dollars, up 88 percent year-on-year.
Expanding into the United States
Revealing its bold expansion plans, BetMakers made an offer to acquire Sportech’s racing and digital assets in the United States, the United Kingdom, Europe and Asia. The offer was initially worth 56 million dollars and it received the approval of the overwhelming majority of Sportech’s shareholders.
BetMakers, based in New South Wales, raised around 38.28 million U.S. dollars through a public placement to help fund this acquisition. The deal is set to be completed during the next financial quarter and it is expected to add substantial new revenue streams for the company.
This acquisition is crucial for the race betting operator’s plans to grow in the United States, a market that is growing every year. This deal would give the company access to the market in 36 states and over 100 racetracks and casinos on U.S. soil. It is also eyeing an exclusive agreement with the operator of Monmouth Park racetrack in New Jersey.