Signs Fixed Odds and Global Distribution Deals in Jamaica
- Exclusive agreements with Supreme Ventures Racing and Entertainment Ltd
- 5-year deal to manage Fixed Odds on all racing at SVREL venues and online in Jamaica
- 5-year deal to distribute Jamaican racing from Caymanas Park internationally
Under terms set out in the exclusive five-year agreements, BetMakers has secured the rights to manage Fixed Odds wagering (through its Managed Trading Services division) for Fixed Odds bets placed on all horse racing, including Jamaican and international race meetings, through SVREL channels including their online site, at more than 100 Off Track Betting (OTB) parlours and on track at Caymanas Park. The agreements also secure exclusive rights for BetMakers to exclusively distribute and manage (through its Global Racing Network) all racing data including Fixed Odds for horse racing at Jamaica's leading race track Caymanas Park (owned by SVREL) to international online wagering operators.
While it is not currently possible to quantify the economic impact of the Data Distribution Agreement or the MTS Agreement, the Board of BetMakers believes that they will have a material impact on the Company's revenues once the commercial arrangements have been implemented. The material terms of these Agreements are annexed to this announcement.
BetMakers has also entered into a Sponsorship Agreement with SVREL pursuant to which BetMakers will sponsor and have exclusive naming and branding rights to a new trainers pavilion to be constructed at Caymanas Park and be a named sponsor with broad advertising rights at key SVREL events.
Managing Director of BetMakers Todd Buckingham said: "We are excited to partner with Supreme Ventures and Caymanas Park to bring Fixed Odds betting on horse racing into Jamaica and to export the Caymanas Park race meetings through our Global Racing Network to the rest of the world. "This new deal again highlights our business model and intentions to partner with regulated race tracks and licenced wagering operators across the world to help sustain and grow any region's racing industry through a globalisation of racing using BetMakers' data and technology platforms.
"BetMakers intends to use its products as well as the knowledge and learnings from the vibrant Australian racing and wagering market to work with Supreme Ventures in making Caymanas Park not only the jewel in the crown of Caribbean racing, but also to become a truly international racing destination for punters, which can benefit the racing industry and all of its stakeholders in Jamaica."
Supreme Ventures Chairman, Gary Peart, said: "We are delighted to choose BetMakers as our partner in this venture as BetMakers has proven itself as the global leader in horse racing distribution and betting solutions built on superior technology and integrity-based platforms.
"Supreme Ventures believes that the Fixed Odds innovation that BetMakers has championed in North America will deliver a huge benefit to the global racing industry as it competes against other sports in an increasingly competitive sports betting market.
"We are very proud to be one of the first tracks that will implement the sophisticated Fixed Odds system that BetMakers provides, and we see this new deal as a major transformational change for the Jamaican horse racing industry.
"What BetMakers are bringing to the table for Supreme Ventures and Caymanas Park provides the racing industry in Jamaica with a tremendous boost and opportunity for major growth as well as vastly benefitting the Jamaican betting public."
About SVREL & SVG
Supreme Ventures is the leading gaming and entertainment group of companies in Jamaica and the region.
This is a title earned over 18 years of innovation, strategized risk and a genuine love for the thrill of gaming.
A dominant force in gaming, Supreme now promotes horse racing, sports betting, slot machines, gaming lounges and online gaming assets that bring lotteries, horse racing and sports betting to the palm of your hand.
2019 saw the launch of SV Games, the first locally based mobile gaming app in Jamaica, the expansion of the MBet mobile platform for horse racing, and the upgrade of JustBet Mobile to streamline the sports betting process and make it easier for sports lovers to get in the game.
Supreme have donated over JMD$18 billion to the Government coffers which safeguards the country's culture, health, arts, sports and educational social activities. The also contributed JMD$7.8 billion through their taxes for 2019. Supreme have made immeasurable contribution to the various communities we operate in, children in state care and education through good causes, executed chiefly through the Supreme Ventures Foundation.
About Caymanas Park
A former sugar estate, Caymans Parl and was officially opened in August 1959. The ownership changed hands over the years. In 1972 a new legal structure was put in place to regulate and control horse racing and the management of Caymanas Park, hence, the Jamaica Racing Commission was established. The Jockey Club, formed in 1905, which was previously entrusted with regulating the sport, was incorporated into the JRC.
In March 2017, Caymanas Park's management was taken over by Supreme Ventures Racing and Entertainment Limited (a subsidiary of the Lottery and Gaming Company, Supreme Ventures Limited). After the acquisition of the track, SVREL invested billions of dollars into the rebranding and revolutionizing of Caymanas Park.
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