Quarterly Activities Report
The $21.6mil in reported cash receipts from customers in Q3 FY22 highlights the continued strong performance of the existing business with YTD cash receipts for the 9 months of $67.2mil.
Net cash used in operating activities for the quarter was $2.9mil, which includes approximately $2.5mil in payments not directly related to the period (see below for further detail).
BetMakers Chief Executive Officer Todd Buckingham said:
"We are very pleased with the performance of the Company during the first 3 months of 2022, during which time we have also focused on securing the right people and resources to deliver on our strategy. The Company continues to pursue a number of opportunities, and is working hard to ensure it has the right resources in place to deliver on these opportunities.
After significant investment in the US market over the past 3 years, the recruitment of Christian Stuart as CEO of North America is a significant appointment for the Company.
Christian has held executive leadership positions within the US gaming industry and his addition to the BetMakers executive team bolsters US operations and strategy.
As another significant milestone in our US strategy, the Company signed an amended and restated fixed odds and data distribution deal with Darby Development LLC, the operator of Monmouth Park racetrack, and the New Jersey Thoroughbred Horseman Association. The parties agreed to extend the term for BetMakers to be the exclusive provider to deliver and manage fixed odds betting on thoroughbred horse racing into New Jersey from the initial period of 10 years to a new contracted term of 15 years."
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About Betmakers Technology Group Ltd
Betmakers Technology Group Ltd (ASX:BET) (OTCMKTS:TPBTF) 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