Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Betmakers Technology (BET) has advised the Supreme Court of New South Wales has judged in favour of the company regarding proceedings with the Punters Show — a sporting discussion platform
  • In 2016, two shareholders of Punters Show alleged Betmakers used its connection with the Punters Show to increase the value of company shares without any financial reward to the Punters Show shareholders
  • Reportedly, two former Punters Show commentators were seeking compensations of over $1.5 million but claims were unproven
  • Betmakers is up slightly by 1.85 per cent and shares are trading for 13.8 cents each

Betmakers Technology (BET) has advised the Supreme Court of New South Wales has delivered a judgement regarding proceedings with the Punters Show.

The Supreme Court judged in favour of Betmakers and defendants in a matter involving two shareholders of Punters Show.

Her Honour Justice Rees dismissed the Originating Process filed on November 17 2016.

In 2016, the shareholders of Punters Show, a sporting discussion platform, alleged that the defendants of Betmakers used their connection with the Punters Show and use of its products to increase the value of shares to be issued in Betmakers without any financial credit or reward to the two Punters Show shareholders.

Betmakers fully disputed the claims and defended the proceedings entirely.

Reportedly, two former Punters Show commentators, Marc Lambourne and Glenn Pollett, were seeking compensations of over $1.5 million, but their claims were unproven.

Following their time on the Punters Show, Glenn Pollett and Marc Lambourne went on to discuss their racing expertise on RacingRant.com.au.

In 2017, however, the bookmakers had to hold back on filming and putting out content due to the ongoing proceedings.

In the February 2019 announcement, the Court awarded several cost orders to Betmakers to cover their costs associated with the proceedings.

Justice Rees, however, dismissed the order of the shareholders to pay the defendants’ costs of the proceedings.

Betmakers is up slightly by 1.85 per cent and shares are trading for 13.8 cents each at 1:12 pm AEDT.

BET by the numbers
More From The Market Herald

" Unibail-Rodamco-Westfield (ASX:URW) rebrands three flagship centres

Unibail-Rodamco-Westfield (ASX:URW) has rebranded three flagship centres in Madrid, Stockholm and Warsaw
BetMakers (ASX:BET) - CEO, Todd Buckingham

" BetMakers (ASX:BET) OM Apps updates agreements with The Waterhouse Group

BetMakers (ASX:BET) subsidiary, OM Apps, has signed an updated agreement with two divisions of The Waterhouse…
Webjet (ASX:WEB) - CEO Webjet OTA, David Galt

" Webjet (ASX:WEB) returns to profitability after COVID-19 turbulence

Online travel booking company Webjet (ASX:WEB) sees a business turnaround for the second half of FY22…

" BikeExchange (ASX:BEX) CEO resigns ahead of capital raise and court complaint

BikeExchange (ASX:BEX) has released a strong of announcements today including a senior management reshuffle, a capital…