BetMakers Technology (ASX:BET) - CEO, Todd Buckingham
CEO, Todd Buckingham
Source: BetMakers
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  • BetMakers (BET) has been selected as the exclusive technology and services provider to new wagering venture NTD
  • Under the agreement, BetMakers will provide platform technology and wagering solutions across the Australia and New Zealand markets with launch scheduled for the second half of the year
  • The agreement is expected to generate more than $300 million in revenue over its 10-year life, with minimum revenue of around $80 million
  • Furthermore, Non-Executive Director Matt Davey has stepped down from the Board of Directors but will remain a long-term shareholder
  • BetMakers ends the day 18.6 per cent in the green with shares trading at 76.5 cents

BetMakers (BET) has been selected as the exclusive technology and services provider to new wagering venture NTD.

Under the agreement, BetMakers will provide platform technology and wagering solutions across the Australia and New Zealand markets.

Launch is scheduled for the second half of the year and will allow users to bet on a range of racing and sports.

The agreement is expected to generate more than $300 million in revenue over its 10-year life, with a minimum revenue of around $80 million.

“We feel this partnership cements the company as a leading provider of B2B platforms
and software to the wagering industry,” CEO Todd Buckingham said.

“This deal will allow the company to demonstrate that we are a viable pathway for large scale operators that want to enter markets quickly and efficiently, allowing them to focus their resources into marketing strategies.

“While this deal is focused on the Australian market, we feel this model will play an important part of our international expansion.”

The agreement has a platform establishment fee of $2 million and a launch development fee of $500,000 per month between signing and the live date which BetMakers expects to occur within six months.

The annual fee is based on a revenue sharing arrangement starting at 25 per cent of the ongoing net gaming revenue and will reduce by one percent on the anniversary of the live date.

Furthermore, Non-Executive Director Matt Davey has stepped down from the Board of Directors, effective today.

“The company has come a long way in a very short space of time and I’m excited to be
handing over the reins to a very competent Board that will now drive the company into
the next phase of growth,” Mr Davey said.

“The recent appointments of two new highly respected Independent Non-Executive Directors, Anna Massion and Rebekah Giles in Australia, adds great strength to the company’s foundation Board members, including Chairman Nick Chan, and places it in excellent shape to oversee the implementation of an exciting next phase of growth by BetMakers’ management.”

BetMakers has ended the day 18.6 per cent in the green with shares trading at 76.5 cents.

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