CEO AGM Address
To reiterate the Company's performance and journey in FY20:
- Started FY20 with monthly revenues of $0.65 million and finished FY20 with monthly revenues of almost $1.2 million.
- Started FY20 with approximately $9.5 million in net debt and finished FY20 with $31.5million cash at bank after a Capital Raise.
- Started FY20 with a share price of $0.045 on the ASX and finished FY20 trading at $0.425 (up 944%).
- Started FY20 with a market cap of $18.6 million and finished FY20 with a market cap of $241.6 million.
- To finish FY20 with an adjusted EBITDA of $0.8 million is a strong result, and to be close to cash flow positive while executing on growth strategy, including in the emerging U.S. market, the European market and other international regions, is also significant.
BetMakers made some major announcements during FY20, including the following:
- Announced a deal with companies associated with Tom Waterhouse, allowing the Company to expand two key services in particular: The Acquisition and Retention platform and the Managed Trading Services product. These products were successfully launched towards the end of FY20.
- Announced a deal for the U.S. market with New Jersey Thoroughbred Horsemen Association (NJTHA) to manage their Fixed Odds offering once introduced into the market.
- Expanded into the European market with several platform deals, including the announced Pronet Gaming deal for Managed Trading Services, which is expected to go live by the end of this 2020 calendar year.
- Expanded our white-label platform division of BetMakers to now include 6 bookmakers that are live and in the market utilising this solution.
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About Betmakers Technology Group Ltd
Betmakers Technology Group Ltd (ASX:BET) (FRA:T07) is an ASX-listed holding company and a global provider of online wagering products and services to both wholesale and retail markets through its various wholly owned subsidiaries. The Company operates a retail wagering business, offering consumers wagering, fantasy tournament and content products and services.
Betmakers Technology Group Ltd