CEO Address to AGM
An important milestone was reached in the most recent September Quarter, with the Company posting its first unaudited quarterly profit.
The Company is pleased with the performance and I can report that BetMakers now supplies products and services globally to more than 30 wagering operators and 20 racing bodies globally, including in jurisdictions such as Australia, New Zealand, the United States, the United Kingdom, Ireland, Mexico and Canada.
It is especially pleasing to the Company's board and management that strategic plans outlined at our 2018 AGM have been implemented throughout 2019. Not only has this positioned the Company for further growth, but it has been a catalyst for BetMakers' Share Price to rise significantly since the start of this year.
Over the coming 12 months we are focused on expanding sales of our core products, including Dynamic Odds and Price Manager, into existing and new markets both domestically and in European, American and Asian regions.
We are also excited by the potential of new products to be offered to our two core segments:
wagering operators and racing bodies.
For racing bodies, we have released Barrier Tech and a world-best-practice racing integrity platform on behalf of Racing Victoria. We look forward to rolling out these products for other racing bodies both in Australia and internationally.
For wagering operators, we have recently released customised racing channels that allow each operator to manage and display their own branded racing vision on digital platforms.
We are observing that as global operators start to 'personalise' the user experience, the need for customised, branded content is essential.
We have also expanded our platform offering, with four licencing deals in place for branded platforms for operators in the Australian market. We believe this will be a strong growth area for the business with more on-course bookmakers looking for a solution to move online and offer a digitised bookmaking service.
BetMakers' custom-built and wholly-owned Tote engine will be a key part of our strategy in 2020.
The ever-evolving global wagering landscape has increasingly placed BetMakers in a strong position to help wagering operators and industry bodies navigate through regulatory changes and complexities arising in all markets.
A key driver of demand for BetMakers' products and services is the ability to assist wagering operators reduce resource costs while delivering better margins to help manage the impact of regulatory challenges.
Finally, on behalf of the board I would like to thank our loyal staff and management and once again acknowledge the support of shareholders as we embark on 2020 as a breakthrough year for BetMakers Technology Group Ltd.
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