The money raised, BetMakers said, will be used to fund strategic acquisitions, repay debt, and support its growing presence in the US racing and wagering market.
The ASX-listed technology company announced today (8 July) that the retail SPP attracted applications totalling A$1.2m, exceeding the original A$1m target.
The strong demand prompted BetMakers to accept the full amount. Priced at A$0.10 per share, the SPP matched the terms of the company’s earlier A$12.5m institutional placement in June. Combined, the two raises generated A$13.7m in fresh capital.
Proceeds will be used to fully repay outstanding debt and fund content and access agreements, including those related to the firm’s New Jersey Fixed Odds operations.
Another key focus is the acquisition of Las Vegas Dissemination Company (LVDC), the only licensed provider of pari-mutuel wagering services in Nevada.
BetMakers entered into a binding term sheet to acquire LVDC for US$800,000 last month, subject to regulatory approval.
The LVDC deal would give BetMakers a foothold in Nevada’s racing ecosystem, with the company stating it intends to invest in modernising LVDC’s infrastructure and expanding its services beyond the state.
In parallel, BetMakers is also acquiring the IP assets of Protocol Zone, a US-based software company that provides tools for data delivery, pricing, and in-race odds management.
The acquisition, expected to close by 1 August, will see BetMakers integrate Protocol Zone’s core software into its Global Racing Network platform, enhancing its pricing and content distribution capabilities.
A total of 12 million new shares have been allocated under the SPP, ranking equally with existing ordinary shares. Trading is expected to commence on the ASX by 9 July.
Dingnews.com 10/07/2025