The Betmakers Technology Group Ltd (ASX: BET) share price is up after signing a horseracing streaming partnership.
Betmakers partnership
Management said that it has signed a multi year agreement to live stream British and Irish racing and content into Australia.
The partnership with Sports Information Services Limited (SIS) and Racecourse Media Group (RMG) includes licensed rights for more than 50 race courses.
Through this partnership Betmakers will become an authorised supplier of vision and content held under rights by SIS (who holds the rights to all 26 Irish racecourses plus Ascot and Chelmsford City) as well as the 34 British racecourses that RMG holds the rights to.
Management comments
Betmakers CEO and Managing Director Todd Buckingham said: “The model of a global racing network, importing and exporting live vision and wagering-related data and content to promote racing across regulated jurisdictions across the world 24/7, is something Betmakers has been successful in promoting. We are delighted to partner with SIS and RMG to bring British and Irish racing to as many punters as we can through our partner operators in Australia.”
SIS’s Commercial Director Paul Witten said: “This is an important step in driving greater access for British and Irish horseracing content in Australia where we know it is popular with punters.”
RMG’s Commercial Director Nick Mills said: “We are pleased to see this deal eventuate with Betmakers… The deal results in a bigger audience within Australia, driving new digital revenues for our racecourses through increased returns generated by wagering turnover growth.”
Final thoughts on Betmakers and the share price
Betmakers seems to be moving ahead on its global strategy, having recently completed an acquisition and announced two more acquisitions.
Investors appear to be happy with the Betmakers strategy as the share price has risen more than 5% over the past week and is up again today.
I’m happy to be a spectator whilst other investors take the punt on this one, there are other ASX growth shares that I would take a wager on.
