International Betting Giant signs BET as Global Partner
Sydney, Oct 4, 2019 AEST (ABN Newswire) - The Board of BetMakers Technology Group Ltd (
ASX:BET) (T07:FRA) is pleased to announce that Global Betting Services Pty Ltd ("GBS" or "BetMakers"), a wholly owned subsidiary of the Company, has signed an agreement with GVC Holdings PLC ("GVC") subsidiary companies GVC Services Limited and GVC Australia Pty Ltd, to form a Global Racing Partnership and roll out BetMakers' propriety technology and wagering products in Australia and other International markets.
As one of the world's largest sports-betting and gaming groups, GVC Holdings PLC, holds licences in more than 20 jurisdictions around the world and employs more than 25,000 staff across five continents. In March, 2018, GVC Holdings PLC acquired Ladbrokes Coral Group PLC to become the UK's largest high street bookmaker, and also take ownership of the Ladbrokes Australia brands, including existing BetMakers customers Ladbrokes and Neds.
BetMakers will continue to service GVC Australia brands under the new agreement, but in addition will integrate its global racing technology products with GVC Holdings PLC's brands across the UK and other International markets. These products include:
- Fixed Odds and Price Manager systems
- Global Tote co-mingling engine
- Live streaming racing channel
- Custom-built trading platforms
BetMakers and GVC have agreed to the following approach, as a summary, for implementation of a Global Racing Partnership in Australia and UK:
In Australia, BetMakers will extend its Fixed Odds and Price Manager system services to cover all Ladbrokes Australia brands of Ladbrokes, Neds, Betstar and bookmaker.com.au and has also agreed to integrate the BetMakers live streaming racing channel with each brand's digital platforms.
In the UK, BetMakers will integrate its global racing technology products, starting with a custom-built trading platform, on to GVC Holdings PLC's brands Ladbrokes and Coral, with integration to start immediately and the first product expected to be live during Q4 of CY19.
GVC Holdings PLC Director of Trading Performance and Operations Mr Glynn Carroll said:
"We are delighted to announce we have been able to reach an agreement for BetMakers to become GVC's Global Racing Partner. There is no doubt BetMakers is the leading provider of racing technology globally and, given the demonstrated success from our existing relationship in Australia over the past few years, we are very excited about using BetMakers' products on our other brands in key markets."
GVC Holdings PLC Commercial Director Mr Jamie McKittrick said:
"The choice to partner with BetMakers as world leaders in racing and wagering technology was based on the key criteria that our customers expect the best offering in the market and GVC as a business needs innovative, reliable and efficient strategic partners to help deliver to its bottom line. We have been impressed with the global reach of BetMakers combined with their technological agility."
Ladbrokes Australia CEO Mr Dean Shannon said:
"BetMakers have been a critical part of our technology solutions in Australia, even more so in recent times as the pressure increases on wagering operators in the Australian market to sustain margins. Given how we have been able to work with BetMakers' technology to help grow revenue and manage costs, it makes sense that our parent company plans to replicate and scale the successful partnership BetMakers has with Ladbrokes Australia into other important markets around the world."
BetMakers Technology Group Chief Executive Officer Mr Todd Buckingham said:
"The new global deal with GVC, to be able to drive their racing content in key international markets, is a reinforcement of the power of BetMakers' technology and products. We've had a very successful ongoing relationship with the Ladbrokes Australia team, which has ultimately led to the wider deal with the global GVC group. BetMakers is excited to have such a significant world-leading partner to roll out our products into global markets as we continue our mission to be the best technology company for both global wagering operators and racing bodies to partner with."
About GVC:
GVC Holdings PLC (LON:GVC) is one of the world's largest sports-betting and gaming groups, operating both online and in the retail sector. Incorporated in the Isle of Man,, the Group holds licences in over 20 jurisdictions and employs a workforce of more than 25,000, in 20 offices across five continents.
The Group owns a comprehensive portfolio of established brands; Sports Brands include bwin, Coral, Crystalbet, Eurobet, Ladbrokes, Neds International and Sportingbet; Games Brands include CasinoClub, Foxy Bingo, Gala, Gioco Digitale, partypoker and PartyCasino. The Group owns proprietary technology across all of its core product verticals and in addition to its B2C operations provides services to third-party customers on a B2B basis.
In the US the Group operates Roar Digital, a joint-venture with MGM Resorts, created to capitalise on the opportunities presented by the regulation of sports betting and gaming. GVC acquired Ladbrokes Coral Group plc on 28 March 2018 and is the UK's largest high street bookmaker.
Through a combination of organic growth and M&A, the Group has expanded rapidly in recent years to become one of the world's largest listed sports betting and gaming groups. On 28 March 2018 GVC completed the acquisition of Ladbrokes Coral Group PLC, the Group's first move into retail operations. This came two years after the acquisition of the international online operator, bwin.party digital entertainment plc, in 2016.
GVC is a member of FTSE4Good and the DJSI, ESG indices which identify companies that meet globally recognised corporate responsibility standards.
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.
| ||
|
