Betmakers Technology Group Ltd
ASX:BET
Betmakers Technology Group Ltd
Betmakers Technology Group Ltd. engages in online gaming and wagering services. The company is headquartered in Newcastle, New South Wales. The company went IPO on 2015-12-11. The firm operates through three segments: content and integrity, wholesale wagering products, and corporate. Content and integrity segment assists racing bodies and rights holders in producing and distributing race content. This includes services, such as barrier technology, official price calculation, vision and pricing distribution. Wholesale wagering products segment provides customers a range of racing data and analytical tools. This includes basic race data, including pricing, runners and form; analytical tools to consume and leverage the data; and wagering tools, including platforms and the Global Tote.
Betmakers Technology Group Ltd. engages in online gaming and wagering services. The company is headquartered in Newcastle, New South Wales. The company went IPO on 2015-12-11. The firm operates through three segments: content and integrity, wholesale wagering products, and corporate. Content and integrity segment assists racing bodies and rights holders in producing and distributing race content. This includes services, such as barrier technology, official price calculation, vision and pricing distribution. Wholesale wagering products segment provides customers a range of racing data and analytical tools. This includes basic race data, including pricing, runners and form; analytical tools to consume and leverage the data; and wagering tools, including platforms and the Global Tote.
Cost Reduction: BetMakers reduced costs by 13% compared to the previous quarter, with further savings expected.
Cash Burn Improvement: Operating cash burn fell to $4.9 million, down 17% quarter-on-quarter.
Revenue Growth: Q3 revenue increased 9% year-on-year, showing progress in core segments.
Profit Focus: Management reiterated a strong focus on reaching positive operational cash flow, expecting to achieve this by the end of Q4.
Strong Cash Position: The company exited Q3 with $56 million in cash and zero debt, providing flexibility for future strategic actions.
Leadership Changes: There were significant management and Board restructuring initiatives during the quarter.
