Australian wagering tech firm, BetMakers, has secured a staggering $26.3 million AUD (roughly $20.4 million USD) via a share purchase program (SPP). This significantly exceeded their original target of $1 million AUD!
The SPP proved immensely popular with qualified investors, who seized the opportunity to acquire new shares at a set price of $0.60 AUD per share. The substantial interest prompted BetMakers to approve applications amounting to a total of $26.3 million AUD.
This influx of capital will support BetMakers’ international growth plan, encompassing the recent purchase of Sportech’s tote and digital holdings. This transaction, estimated at £30.9 million (approximately $42.2 million USD), received recent endorsement from Sportech stakeholders.
BetMakers’ Chief Executive Officer, Todd Buckingham, conveyed his enthusiasm, remarking that the company has swiftly evolved into a significant force within the global wagering sector. He highlighted their dedication to providing shareholder value and pledged additional updates on their advancements throughout 2021.
Vendors also indicated that, during the optimization of their processes, they focused on providing opportunities for established individual stakeholders in BetMakers to expand their holdings. They conveyed appreciation to non-institutional investors who maintain a substantial quantity of stock.