Address by the CEO of Betmakers Technology Group Ltd (BET.AX) to the Annual General Meeting – company presentation
Sydney, Australia, Nov 22, 2021 – (ABN Newswire) – Betmakers Technology Group Ltd (ASX: BET) (OTCMKTS: TPBTF) reported revenue of $ 19.5 million in FY21, up 127% over the previous year FY20 corresponds.
The result was driven by increasing demand for BetMakers products and services in Australia and overseas and included two weeks of income from the company’s acquisition of Sportech’s racing and digital businesses, which closed on June 18, 2021.
Sportech’s acquisition and acceleration of the company’s strategy in the US market, including fixed-odds horse racing, were highlights of a year of transformation for BetMakers on the global betting arena.
BetMakers now operates in more than 30 countries with more than 200 customers and we believe we are one of the leading B2B providers for racing around the world.
Every sector of our business, including Global Racing Network, Global Betting Services, and Global Tote, has the ability to continue growing through FY22 and beyond.
As Chief Executive Officer, I am delighted with the company’s potential and the opportunities that our dedicated teams have created around the world.
We have successfully expanded our position as the central data and technology partner of the global racing industry – for racing associations, rights holders and betting providers – with the demand for digital betting and integrity products growing in Australia and internationally.
It is particularly gratifying that our shared vision for the company over the past three years is clearly being put into practice. Management and employees implement plans and execute a global strategy that was supported by the company’s board of directors.
The strategy, which is essentially focused on developing and delivering world-class B2B betting and integrity-driven products that monetize content for stakeholders in a global racing ecosystem, has delivered sustained growth in value to shareholders.
This shows the share price development over the past two years: FY20 recorded a growth of 844% ($ 0.045 to $ 0.425); and in FY21 the growth was 152% ($ 0.425 to $ 1.070).
I am grateful for the support from shareholders, especially longtime owners and those who invested in BetMakers’ trip. It has been a journey into uncharted waters at times, but we have always believed in staying on course and that the price we are sailing at would not come without rough seas.
During FY21, BetMakers continued to expand its domestic operations in Australia while entering new territories and markets that have now laid the foundation for the company’s next phase of global growth.
As a pioneer in fixed-odds horse racing in the United States and subsequent legal approvals in the state of New Jersey, we play a leadership role in horse racing innovation and development.
By continuing to pursue strategic opportunities, such as the acquisition of Sportech PLC’s racing and digital assets, we are investing in global opportunities that we believe can grow to be significant for the company while providing financial strength to the global horse racing industry Competition with other sports, both for the audience and for the proportion of betting.
To develop this vision, we have brought together some of the best executives and consultants available in the global betting arena: Matt Davey, a global betting entrepreneur and largest shareholder in BetMakers, is committed to the long-term growth of the company and has a valued addition served on our board as a non-executive director; Matt Tripp, a pioneer of online betting in Australia, bought into BetMakers in FY21 and agreed to exclusively advise the company on B2B betting worldwide.
We now have Australian offices in three states (Newcastle in NSW, Melbourne in Victoria and Brisbane in Queensland) and a highly skilled development and racing team in Columbo, Sri Lanka. Together with the acquisition of Sportech Racing and Digital Assets, we have offices in 8 countries.
The culmination of this growth with talented people and regions is the intention to create one of the most prominent companies in the global betting sector.
I would like to thank BetMakers CEO Nick Chan, who has been with the company since its inception, and all of the board members for their support throughout FY21.
The board of directors, management and employees are aware that this year again during the coronavirus waves was a very difficult time for many people around the world, and we direct our thoughts to all those affected.
The resilience of the company as a borderless digital company has shown itself more than ever this year, but just as important is the ability of our employees to act even in difficult times and still provide the highest quality and continuity of services.
Finally, I would like to personally thank you all as we have brought in people from all over the world who have embraced the BetMakers culture and passion.
We are aligned as a company with a clear vision and coherent action plans. And we are excited.
CEO – BetMakers Technology Group Ltd
* To view the company presentation, please visit:
About Betmakers Technology Group Ltd:
Betmakers Technology Group Ltd (ASX: BET) (OTCMKTS: TPBTF) is an ASX-listed holding company and a global provider of online betting products and services to wholesale and retail markets through its various wholly owned subsidiaries. The company operates a retail betting business offering betting, fantasy tournaments, and content products and services to consumers.
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