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- BetMakers (BET) has bolstered the potential revenue from its 10-year deal with Victoria-based wagering venture NDT by $20 million
- The amended contract follows NDT’s decision to buy certain assets of wagering business TexBet, a long-standing BetMakers customer
- Under the terms of the amended deal, BetMakers will contribute $2.5 million towards the purchase of TexBet by NDT
- In return, BetMakers will receive ownership and intellectual property (IP) rights for the TexBet betting platform
- Shares in BetMakers are down 1.09 per cent to 46 cents at 10:52 am AEST
BetMakers (BET), through subsidiary OM Apps, has bolstered the potential revenue from its 10-year deal with Victoria-based wagering venture NDT by $20 million.
The amendment to the contract, which was first signed in April this year, follows a decision from NDT to purchase certain assets of wagering business TexBet, a long-standing BetMakers customer.
As part of the new deal, BetMakers and NDT have increased the cap on the annual fee payable by NDT to OM Apps by $2 million per year for the 10 years of the contract.
BetMakers said the net gaming revenue (NGR) from the TexBet customer base will form part of the NGR used to calculate this annual fee.
BetMakers will contribute $2.5 million in two tranches towards the purchase of TexBet by NDT and, in return, will receive ownership and intellectual property (IP) rights for the TexBet betting platform.
Further, BetMakers will support the migration of TexBet’s customer base to the NTD platform, including providing supervisory support in relation to the trading until full migration has been completed.
The contract between BetMakers and NDT will see OM Apps provide technology and services to the new NTD wagering venture, which is scheduled to launch in Australia this year.
Shares in BetMakers were down 1.09 per cent to 46 cents at 10:52 am AEST.
