Announcement • Aug 11
Tabcorp Holdings Limited (ASX:TAH) entered into a binding Scheme Implementation Deed to acquire Betmakers Technology Group Ltd (ASX:BET) for approximately AUD 270 million. Tabcorp Holdings Limited (ASX:TAH) entered into a binding Scheme Implementation Deed to acquire Betmakers Technology Group Ltd (ASX:BET) for approximately AUD 270 million on August 9, 2026. Under the terms of the Scheme, the default form of Scheme Consideration is AUD 0.24 cash per BetMakers Share. Eligible BetMakers Shareholders may instead elect to receive 25%, 50%, 75% or 100% of their Scheme Consideration in new Tabcorp shares, with the balance paid in cash. The scrip election is subject to a maximum aggregate scrip consideration payable equal to 25% of the total Scheme Consideration that may be issued as new Tabcorp shares. If valid elections exceed this cap, elections will be scaled back on a pro rata basis and the balance will be paid in cash. The exchange ratio will be calculated by dividing AUD 0.24 by the higher of: AUD 1 per Tabcorp share; and the VWAP of Tabcorp shares over the 5 trading days before the Scheme Record Date. New Tabcorp shares issued under the Scheme will rank equally in all respects with existing Tabcorp shares from the Implementation Date. Ineligible Foreign Shareholders and BetMakers Shareholders who do not make a valid election will receive AUD 0.24 cash per BetMakers Share. The cash component of the Transaction consideration will be funded from Tabcorp’s existing cash and/or undrawn debt facilities. A break fee of AUD 2.83 million (excluding GST) may be payable by BetMakers to Tabcorp in certain customary circumstances including where a superior proposal is received from a third party. A reverse break fee of AUD 2.83 million (excluding GST) may be payable by Tabcorp to BetMakers if BetMakers terminates the SID as a result of an unremedied material breach by Tabcorp. Key members of BetMakers’ management team to be retained and incentivised to deliver integration and synergies.
The Scheme is subject to ACCC clearance, applicable gaming and racing regulatory approvals in various of the jurisdictions in which BetMakers undertakes business activities, BetMakers Shareholder and Court approvals and other customary conditions. The Scheme is not subject to a financing condition, Tabcorp shareholder approval or further due diligence. No immediate action required: Shareholders do not need to take any action at this time, scheme meeting materials will be distributed ahead of the shareholder vote. The parties are targeting implementation of the Transaction during third quarter of FY27. A scheme booklet, containing detailed information in relation to the Transaction and the independent expert's report, is expected to be dispatched to BetMakers shareholders in late CY26. The BetMakers Board unanimously recommends that BetMakers shareholders vote in favour of the Transaction, and each BetMakers director intends to vote any shares in which they have a relevant interest in favour of the Transaction, in each case in the absence of a superior proposal and subject to an independent expert concluding (and continuing to conclude) that the Transaction is in the best interests of BetMakers shareholders. The Transaction is expected to deliver attractive shareholder returns, including EPS accretion from Year 2 and double-digit EPS accretion from Year 3.
MAFG Operations Pty Ltd acted as financial advisor for Betmakers Technology Group Ltd. Ashurst Perkins Coie UK LLP acted as legal advisor for Betmakers Technology Group Ltd. Barrenjoey Capital Partners acted as financial advisor for Tabcorp Holdings Limited. Gilbert and Tobin acted as legal advisor for Tabcorp Holdings Limited. Automic Group Pty Ltd acted as transfer agent/registrar for Tabcorp Holdings Limited. Price Target Changed • Aug 11
Price target decreased by 7.7% to AU$0.24 Down from AU$0.26, the current price target is an average from 2 analysts. New target price is 9.1% above last closing price of AU$0.22. The company is forecast to post a net loss per share of AU$0.0036 next year compared to a net loss per share of AU$0.027 last year. Price Target Changed • Aug 03
Price target increased by 8.3% to AU$0.26 Up from AU$0.24, the current price target is an average from 2 analysts. New target price is 58% above last closing price of AU$0.17. Stock is up 6.5% over the past year. The company is forecast to post a net loss per share of AU$0.0036 next year compared to a net loss per share of AU$0.027 last year. Major Estimate Revision • Jul 31
Consensus EPS estimates fall by 35% The consensus outlook for fiscal year 2026 has been updated. 2026 expected loss increased from -AU$0.0028 to -AU$0.0038 per share. Revenue forecast unchanged at AU$93.6m. Hospitality industry in Australia expected to see average net income growth of 34% next year. Consensus price target of AU$0.24 unchanged from last update. Share price fell 8.3% to AU$0.17 over the past week. Major Estimate Revision • May 03
Consensus EPS estimates fall by 29% The consensus outlook for fiscal year 2026 has been updated. 2026 expected loss increased from -AU$0.0032 to -AU$0.0041 per share. Revenue forecast unchanged at AU$94.0m. Hospitality industry in Australia expected to see average net income growth of 85% next year. Consensus price target up from AU$0.24 to AU$0.24. Share price fell 5.3% to AU$0.18 over the past week. Major Estimate Revision • Apr 30
Consensus EPS estimates fall by 23% The consensus outlook for fiscal year 2026 has been updated. 2026 expected loss increased from -AU$0.0032 to -AU$0.0039 per share. Revenue forecast unchanged at AU$94.5m. Hospitality industry in Australia expected to see average net income growth of 85% next year. Consensus price target of AU$0.24 unchanged from last update. Share price fell 5.3% to AU$0.18 over the past week. Announcement • Feb 25
Betmakers Technology Group Ltd to Report First Half, 2026 Results on Feb 27, 2026 Betmakers Technology Group Ltd announced that they will report first half, 2026 results on Feb 27, 2026 Announcement • Feb 02
Betmakers Technology Group Ltd (ASX:BET) completed the acquisition of Certain assets and liabilities from Las Vegas Dissemination, Inc. Betmakers Technology Group Ltd (ASX:BET) signed a binding heads of agreement to acquire Certain assets and liabilities from Las Vegas Dissemination, Inc. for $0.8 million on June 4, 2025. On December 5, 2025, Betmakers Technology Group Ltd (ASX:BET) entered into definitive agreement to acquire Certain assets and liabilities of the Las Vegas Dissemination Company.
The transaction is subject to approval by regulatory board, consummation of due diligence investigation, definitive agreement, and third party approval needed. On December 5, 2025, it was announced that the transaction remains subject to regulatory approvals and other customary conditions precedent. Discussions with regulators and key stakeholders are well progressed and the transaction is expected to close early in second half of 2026. On January 29, 2026, it was announced the the transaction is expected to close in Q3 FY26.
Brandon Roos and Michael J. Bonn of Greenberg Traurig, LLP acted as legal advisor for Las Vegas Dissemination, Inc.
Betmakers Technology Group Ltd (ASX:BET) completed the acquisition of Certain assets and liabilities from Las Vegas Dissemination, Inc. on February 1, 2025. Board Change • Feb 02
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 1 highly experienced director. President & Executive Chairman Matt Davey was the last director to join the board, commencing their role in 2023. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Major Estimate Revision • Jan 31
Consensus EPS estimates fall by 15% The consensus outlook for fiscal year 2026 has been updated. 2026 expected loss increased from -AU$0.0013 to -AU$0.0015 per share. Revenue forecast unchanged at AU$93.2m. Hospitality industry in Australia expected to see average net income growth of 35% next year. Consensus price target of AU$0.24 unchanged from last update. Share price fell 2.6% to AU$0.19 over the past week. New Risk • Nov 27
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 15% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. This is currently the only risk that has been identified for the company. Major Estimate Revision • Oct 30
Consensus EPS estimates upgraded to AU$0.0009 loss The consensus outlook for fiscal year 2026 has been updated. 2026 losses forecast to reduce from -AU$0.0011 to -AU$0.0009 per share. Revenue forecast steady at AU$92.4m. Hospitality industry in Australia expected to see average net income growth of 40% next year. Consensus price target down from AU$0.24 to AU$0.24. Share price fell 11% to AU$0.17 over the past week. Announcement • Sep 05
Betmakers Technology Group Ltd, Annual General Meeting, Oct 31, 2025 Betmakers Technology Group Ltd, Annual General Meeting, Oct 31, 2025. Major Estimate Revision • Sep 03
Consensus EPS estimates fall by 129% The consensus outlook for fiscal year 2026 has been updated. 2026 expected loss increased from -AU$0.0005 to -AU$0.0011 per share. Revenue forecast unchanged at AU$92.9m. Hospitality industry in Australia expected to see average net income growth of 47% next year. Consensus price target up from AU$0.24 to AU$0.24. Share price rose 10.0% to AU$0.17 over the past week. Reported Earnings • Aug 29
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: AU$0.027 loss per share (improved from AU$0.04 loss in FY 2024). Revenue: AU$85.1m (down 11% from FY 2024). Net loss: AU$26.4m (loss narrowed 32% from FY 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 37%. Revenue is forecast to grow 9.6% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Hospitality industry in Australia. Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has fallen by 27% per year, which means it is significantly lagging earnings. Announcement • Aug 25
Betmakers Technology Group Ltd to Report Fiscal Year 2025 Results on Aug 28, 2025 Betmakers Technology Group Ltd announced that they will report fiscal year 2025 results Pre-Market on Aug 28, 2025 New Risk • Aug 12
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 13% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (13% average weekly change). Significant insider selling over the past 3 months (AU$4.2m sold). Price Target Changed • Jul 23
Price target increased by 12% to AU$0.24 Up from AU$0.21, the current price target is an average from 2 analysts. New target price is 92% above last closing price of AU$0.13. Stock is up 39% over the past year. The company is forecast to post a net loss per share of AU$0.02 next year compared to a net loss per share of AU$0.04 last year. New Risk • Jul 23
New major risk - Revenue and earnings growth Earnings have declined by 26% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 26% per year over the past 5 years. Minor Risk Market cap is less than US$100m (AU$137.3m market cap, or US$90.2m). Breakeven Date Change • Jul 04
Forecast to breakeven in 2027 The analyst covering Betmakers Technology Group expects the company to break even for the first time. New forecast suggests the company will make a profit of AU$1.80m in 2027. Average annual earnings growth of 96% is required to achieve expected profit on schedule. New Risk • Jun 16
New minor risk - Profitability The company is currently unprofitable and not forecast to become profitable over the next 2 years. Trailing 12-month net loss: AU$42m Forecast net loss in 2 years: AU$30k This is considered a minor risk. Companies that are not profitable are more likely to be burning through cash and less likely to be well established. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. Without profits, the company is under pressure to grow significantly while potentially having to reduce costs and possibly needing to take on debt or raise capital to remain afloat. Currently, the following risks have been identified for the company: Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (AU$30k net loss in 2 years). Market cap is less than US$100m (AU$96.1m market cap, or US$62.6m). Announcement • Jun 04
Betmakers Technology Group Ltd (ASX:BET) signed a binding heads of agreement to acquire Las Vegas Dissemination Company for $0.80 million. Betmakers Technology Group Ltd (ASX:BET) signed a binding heads of agreement to acquire Las Vegas Dissemination Company for $0.80 million on June 4, 2025. A cash consideration of $0.8 million will be paid by Betmakers Technology Group Ltd. As part of consideration, $0.8 million is paid towards common equity of Las Vegas Dissemination Company.
The transaction is subject to approval by regulatory board, consummation of due diligence investigation, definitive agreement, and third party approval needed. Price Target Changed • May 24
Price target increased by 7.9% to AU$0.20 Up from AU$0.19, the current price target is an average from 2 analysts. New target price is 78% above last closing price of AU$0.12. The company is forecast to post a net loss per share of AU$0.021 next year compared to a net loss per share of AU$0.04 last year. Breakeven Date Change • May 23
No longer forecast to breakeven The 2 analysts covering Betmakers Technology Group no longer expect the company to break even during the foreseeable future. The company was expected to make a profit of AU$450.0k in 2027. New consensus forecast suggests the company will make a loss of AU$400.0k in 2027. Breakeven Date Change • Apr 15
No longer forecast to breakeven The 2 analysts covering Betmakers Technology Group no longer expect the company to break even during the foreseeable future. The company was expected to make a profit of AU$1.37m in 2027. New consensus forecast suggests the company will make a loss of AU$400.0k in 2027. Price Target Changed • Mar 21
Price target increased by 16% to AU$0.18 Up from AU$0.16, the current price target is an average from 2 analysts. New target price is 91% above last closing price of AU$0.097. Stock is up 9.0% over the past year. The company is forecast to post a net loss per share of AU$0.022 next year compared to a net loss per share of AU$0.04 last year. New Risk • Mar 01
New minor risk - Profitability The company is currently unprofitable and not forecast to become profitable over the next 2 years. Trailing 12-month net loss: AU$42m Forecast net loss in 2 years: AU$237k This is considered a minor risk. Companies that are not profitable are more likely to be burning through cash and less likely to be well established. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. Without profits, the company is under pressure to grow significantly while potentially having to reduce costs and possibly needing to take on debt or raise capital to remain afloat. Currently, the following risks have been identified for the company: Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (AU$237k net loss in 2 years). Market cap is less than US$100m (AU$116.4m market cap, or US$72.2m). Major Estimate Revision • Feb 28
Consensus EPS estimates fall by 113% The consensus outlook for fiscal year 2025 has been updated. 2025 expected loss increased from -AU$0.0094 to -AU$0.02 per share. Revenue forecast unchanged at AU$83.5m. Hospitality industry in Australia expected to see average net income growth of 68% next year. Consensus price target of AU$0.17 unchanged from last update. Share price was steady at AU$0.12 over the past week. Announcement • Feb 25
Betmakers Technology Group Ltd to Report First Half, 2025 Results on Feb 27, 2025 Betmakers Technology Group Ltd announced that they will report first half, 2025 results on Feb 27, 2025 Major Estimate Revision • Feb 04
Consensus EPS estimates upgraded to AU$0.009 loss, revenue downgraded The consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast fell from AU$86.2m to AU$84.3m. 2025 losses expected to reduce from -AU$0.0102 to -AU$0.009 per share. Hospitality industry in Australia expected to see average net income growth of 29% next year. Consensus price target of AU$0.17 unchanged from last update. Share price fell 8.0% to AU$0.12 over the past week. New Risk • Nov 27
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 12% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 37% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (12% average weekly change). Shareholders have been diluted in the past year (2.3% increase in shares outstanding). Market cap is less than US$100m (AU$106.7m market cap, or US$69.2m). New Risk • Oct 25
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.3% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 37% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (2.3% increase in shares outstanding). Market cap is less than US$100m (AU$85.4m market cap, or US$56.6m). Announcement • Sep 30
Betmakers Technology Group Ltd, Annual General Meeting, Nov 26, 2024 Betmakers Technology Group Ltd, Annual General Meeting, Nov 26, 2024. Reported Earnings • Aug 30
Full year 2024 earnings released Full year 2024 results: Revenue: AU$95.2m (flat on FY 2023). Net loss: AU$38.7m (flat on FY 2023). Announcement • Aug 28
Betmakers Technology Group Ltd to Report Fiscal Year 2024 Results on Aug 30, 2024 Betmakers Technology Group Ltd announced that they will report fiscal year 2024 results on Aug 30, 2024 New Risk • Apr 14
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.3% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 50% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (2.3% increase in shares outstanding). Market cap is less than US$100m (AU$101.3m market cap, or US$65.4m). New Risk • Feb 29
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$23m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$23m free cash flow). Earnings have declined by 50% per year over the past 5 years. Minor Risk Market cap is less than US$100m (AU$93.9m market cap, or US$61.0m). Announcement • Feb 23
Betmakers Technology Group Ltd to Report First Half, 2024 Results on Feb 28, 2024 Betmakers Technology Group Ltd announced that they will report first half, 2024 results on Feb 28, 2024 Announcement • Oct 31
Betmakers Technology Group Ltd Announces Nicholas Chan Resigns as Non-Executive Director Betmakers Technology Group Ltd. advises that Non-Executive Director, Nicholas Chan, has resigned from as a director of the Company, effective 31 October 2023. At this stage there is no intention to replace Nick's role on the board. The Board's current composition is appropriate for the current size and profile of BetMakers. New Risk • Sep 14
New major risk - Revenue and earnings growth Earnings have declined by 65% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 65% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (14% average weekly change). Market cap is less than US$100m (AU$103.8m market cap, or US$66.9m). Reported Earnings • Sep 01
Full year 2023 earnings released: AU$0.042 loss per share (vs AU$0.10 loss in FY 2022) Full year 2023 results: AU$0.042 loss per share (improved from AU$0.10 loss in FY 2022). Revenue: AU$95.0m (up 3.6% from FY 2022). Net loss: AU$38.8m (loss narrowed 56% from FY 2022). Revenue is forecast to grow 32% p.a. on average during the next 2 years, compared to a 7.8% growth forecast for the Hospitality industry in Australia. Over the last 3 years on average, earnings per share has fallen by 56% per year but the company’s share price has only fallen by 42% per year, which means it has not declined as severely as earnings. Announcement • Aug 30
Betmakers Technology Group Ltd, Annual General Meeting, Nov 30, 2023 Betmakers Technology Group Ltd, Annual General Meeting, Nov 30, 2023. Location: at 189 Flinders Lane Malbourne Victoria Australia New Risk • Aug 26
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2022. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Minor Risks Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). Share price has been volatile over the past 3 months (15% average weekly change). Shareholders have been diluted in the past year (4.3% increase in shares outstanding). Market cap is less than US$100m (AU$127.4m market cap, or US$81.7m). Price Target Changed • May 18
Price target decreased by 28% to AU$0.40 Down from AU$0.56, the current price target is provided by 1 analyst. New target price is 186% above last closing price of AU$0.14. Stock is down 72% over the past year. The company posted a net loss per share of AU$0.10 last year. Recent Insider Transactions • Apr 21
Independent Non-Executive Director recently sold AU$60k worth of stock On the 18th of April, Nicholas Chan sold around 400k shares on-market at roughly AU$0.15 per share. This transaction amounted to 9.0% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Breakeven Date Change • Mar 23
Forecast breakeven date moved forward to 2023 The 5 analysts covering Betmakers Technology Group previously expected the company to break even in 2024. New consensus forecast suggests the company will make a profit of AU$2.60m in 2023. Earnings growth of 108% is required to achieve expected profit on schedule. Breakeven Date Change • Mar 14
Forecast breakeven date moved forward to 2023 The 5 analysts covering Betmakers Technology Group previously expected the company to break even in 2024. New consensus forecast suggests the company will make a profit of AU$400.0k in 2023. Earnings growth of 96% is required to achieve expected profit on schedule. Reported Earnings • Feb 24
First half 2023 earnings released: AU$0.022 loss per share (vs AU$0.033 loss in 1H 2022) First half 2023 results: AU$0.022 loss per share (improved from AU$0.033 loss in 1H 2022). Revenue: AU$46.7m (up 7.5% from 1H 2022). Net loss: AU$19.9m (loss narrowed 28% from 1H 2022). Revenue is forecast to grow 28% p.a. on average during the next 3 years, compared to a 8.3% growth forecast for the Hospitality industry in Australia. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 78 percentage points per year, which is a significant difference in performance. Buying Opportunity • Feb 07
Now 23% undervalued after recent price drop Over the last 90 days, the stock is down 18%. The fair value is estimated to be AU$0.27, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 93% over the last 3 years. Earnings per share has declined by 90%. Breakeven Date Change • Nov 16
Forecast breakeven date pushed back to 2024 The 5 analysts covering Betmakers Technology Group previously expected the company to break even in 2023. New consensus forecast suggests losses will reduce by 100% to 2023. The company is expected to make a profit of AU$16.3m in 2024. Average annual earnings growth of 122% is required to achieve expected profit on schedule. Breakeven Date Change • Nov 07
Forecast breakeven date pushed back to 2024 The 5 analysts covering Betmakers Technology Group previously expected the company to break even in 2023. New consensus forecast suggests losses will reduce by 100% to 2023. The company is expected to make a profit of AU$16.3m in 2024. Average annual earnings growth of 122% is required to achieve expected profit on schedule. Announcement • Nov 02
Betmakers Technology Group Ltd (ASX:BET) completed the acquisition of Punting Form from JJ Ventures Limited and Hkelly Holdings Pty Ltd. Betmakers Technology Group Ltd (ASX:BET) entered into a share purchase deed to acquire Punting Form from JJ Ventures Limited and Hkelly Holdings Pty Ltd for AUD 3 million on October 24, 2022. Betmakers Technology Group Ltd will pay initial consideration of AUD 3 million in cash and Potential earnout of AUD 17 million in cash or equity. Punting Form will become part of BetMakers’ Global Betting Services division. BetMakers being satisfied with the results of due diligence enquiries, BetMakers obtaining all necessary board and shareholder approvals and sourcing sufficient funds to pay the purchase price, BetMakers and JJ Ventures Limited and Hkelly Holdings Pty Ltd obtaining all necessary regulatory approvals, consents and waivers, JJ Ventures Limited and Hkelly Holdings Pty Ltd obtaining any required approvals from counterparties to certain material contracts, BetMakers being satisfied that certain minimum working capital and net tangible asset conditions will be satisfied as at Completion, BetMakers being satisfied that JJ Ventures has acquired all remaining shares in Punting Form that are not held by the Vendors as at the date of this announcement and certain key employees signing employment agreements with Punting Form.
Betmakers Technology Group Ltd (ASX:BET) completed the acquisition of Punting Form from JJ Ventures Limited and Hkelly Holdings Pty Ltd on November 1, 2022. Punting Form will become part of BetMakers’ Global Betting Services division. Recent Insider Transactions Derivative • Sep 03
Founder exercised options to buy AU$2.0m worth of stock. On the 2nd of September, Todd Buckingham exercised options to buy 5m shares at a strike price of around AU$0.40, costing a total of AU$2.0m. This transaction amounted to 33% of their direct individual holding at the time of the trade. Since March 2022, Todd has owned 15.01m shares directly. Company insiders have collectively bought AU$2.2m more than they sold, via options and on-market transactions, in the last 12 months. Reported Earnings • Aug 26
Full year 2022 earnings: EPS misses analyst expectations Full year 2022 results: AU$0.10 loss per share (down from AU$0.026 loss in FY 2021). Revenue: AU$91.7m (up 371% from FY 2021). Net loss: AU$89.2m (loss widened 411% from FY 2021). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 685%. Over the next year, revenue is forecast to grow 46%, compared to a 28% growth forecast for the Hospitality industry in Australia. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 158 percentage points per year, which is a significant difference in performance. Announcement • Aug 26
Betmakers Technology Group Ltd, Annual General Meeting, Nov 22, 2022 Betmakers Technology Group Ltd, Annual General Meeting, Nov 22, 2022. Location: Suite 19, Level 2 50 Glebe Road, The Junction New South Wales 2291 New South Wales Australia Announcement • May 10
Betmakers Technology Group Ltd Announces Fixed Odds Launches in New Jersey The Board of BetMakers Technology Group Ltd. to announce that Fixed Odds betting on Thoroughbred Racing has successfully launched in New Jersey under the landmark legislation passed on 21 June 2021. The first Fixed Odds bet was taken on Friday 6 May and Fixed Odds betting was conducted on the Monmouth Park season launch meeting on 8 May. Fixed Odds betting on the meeting was conducted on course with full end-to-end technology and services solution delivered by BetMakers. After the initial launch on Monmouth Park meetings, the planned expansion is now scheduled to roll out Fixed Odds wagering to further horse racing meetings in coming weeks, with up to 10 meetings each day from North American tracks before the intended addition of international meetings for Fixed Odds wagering. BetMakers has also been contracted to provide Online Fixed Odds solutions for Monmouth Park, which the Company is intending to be operational next quarter. With the Fixed Odds licensing framework in place and a successful launch of BetMakers technology in New Jersey, the Company will continue to engage with existing US online sportsbook operators looking to include Horse Racing as a part of their wagering offering. Price Target Changed • Apr 27
Price target decreased to AU$0.97 Down from AU$1.35, the current price target is an average from 4 analysts. New target price is 67% above last closing price of AU$0.58. Stock is down 54% over the past year. The company is forecast to post a net loss per share of AU$0.021 next year compared to a net loss per share of AU$0.026 last year. Announcement • Apr 21
Betmakers Technology Group Ltd Announces Matt Davey Will Be Stepping Down from the Board of Directors Betmakers Technology Group Ltd. announced that Matt Davey will be stepping down from the Company's Board of Directors, effective 21 April 2022. Announcement • Mar 06
Betmakers Technology Group Ltd Announces Appointment of Anna Massion as an Independent Non-Executive Director The Board of Betmakers Technology Group Ltd. announced the appointment of Anna Massion to the company's board as an Independent Non-Executive Director. Anna, who is based in the United States, is a highly experienced board member who currently holds directorships at international gaming technology and investment companies, including Non-Executive Director roles at: Playtech, AGS and Artemis Strategic Investment Corp. Previously, she has been a Senior Analyst at hedge fund Par Capital Management in Boston and has held positions as: Director, Gaming, Lodging & Leisure Research at Hedgeye Risk Management (Stamford, Connecticut); Vice President/Senior Research Analyst, Global Equity Fund at Marathon Asset Management LP (York, New York); and Vice President, Proprietary Equities Trading, at J.P. Morgan Securities. Breakeven Date Change • Mar 01
Forecast breakeven date pushed back to 2023 The 4 analysts covering Betmakers Technology Group previously expected the company to break even in 2022. New consensus forecast suggests losses will reduce by 81% to 2022. The company is expected to make a profit of AU$6.90m in 2023. Average annual earnings growth of 104% is required to achieve expected profit on schedule. Announcement • Feb 09
BetMakers Technology Group Ltd Appoints Rebekah Giles as Independent Non-Executive Director The Board of BetMakers Technology Group Ltd. announced the appointment of Rebekah Giles to the Company's Board as an Independent Non-Executive Director. She is the principal director of boutique legal firm Company (Giles) and has a diverse portfolio of non-executive directorships in government, sport and private enterprise. Some of her current and pastappointments include Chair of the Board of Governors for the Centennial Parklands Foundation(Sydney), Western Sydney Football Club (AFL GWS Giants), FrontRunners, SOBA (Sydney Olympic ParkBusiness Association), Greyhound Racing NSW and the Association for Women in Insurance. Recent Insider Transactions • Feb 02
Founder recently bought AU$199k worth of stock On the 27th of January, Todd Buckingham bought around 320k shares on-market at roughly AU$0.62 per share. This was the largest purchase by an insider in the last 3 months. This was Todd's only on-market trade for the last 12 months. Price Target Changed • Jan 27
Price target decreased to AU$1.18 Down from AU$1.33, the current price target is an average from 4 analysts. New target price is 99% above last closing price of AU$0.59. Stock is down 7.1% over the past year. The company is forecast to post earnings per share of AU$0.0023 next year compared to a net loss per share of AU$0.026 last year. Reported Earnings • Aug 31
Full year 2021 earnings released: AU$0.026 loss per share (vs AU$0.005 loss in FY 2020) The company reported a decent full year result with improved revenues, although losses increased and control over costs was weaker. Full year 2021 results: Revenue: AU$19.5m (up 127% from FY 2020). Net loss: AU$17.5m (loss widened AU$15.3m from FY 2020). Over the last 3 years on average, earnings per share has fallen by 55% per year but the company’s share price has increased by 143% per year, which means it is well ahead of earnings. Announcement • Jun 25
Betmakers Technology Group Ltd (ASX:BET) acquired Assets of Swopstakes from Swopstakes for AUD 15.6 million. Betmakers Technology Group Ltd (ASX:BET) acquired Assets of Swopstakes from Swopstakes for AUD 15.6 million on June 24, 2021. Under the terms, Betmakers Technology Group Ltd will pay AUD 0.63 million in cash and AUD 15 million based on performance. The assets include Swopstakes’ proprietary betting products, including technology and intellectual property.
Betmakers Technology Group Ltd (ASX:BET) completed the acquisition of Assets of Swopstakes from Swopstakes on June 24, 2021. Major Estimate Revision • Jun 23
Consensus forecasts updated The consensus outlook for 2021 has been updated. 2021 revenue forecast fell from AU$26.6m to AU$23.2m. EPS estimate unchanged from -AU$0.0053 per share at last update. Hospitality industry in Australia expected to see average net income growth of 94% next year. Consensus price target of AU$1.45 unchanged from last update. Share price rose 7.9% to AU$1.17 over the past week. Breakeven Date Change • May 30
Forecast breakeven pushed back to 2023 The analyst covering Betmakers Technology Group previously expected the company to break even in 2022. New forecast suggests losses will reduce by 35% per year to 2022. The company is expected to make a profit of AU$4.00m in 2023. Average annual earnings growth of 104% is required to achieve expected profit on schedule. Breakeven Date Change • May 22
Forecast breakeven pushed back to 2023 The 2 analysts covering Betmakers Technology Group previously expected the company to break even in 2022. New consensus forecast suggests losses will reduce by 35% per year to 2022. The company is expected to make a profit of AU$4.00m in 2023. Average annual earnings growth of 105% is required to achieve expected profit on schedule. Major Estimate Revision • Apr 28
Consensus forecasts updated The consensus outlook for 2021 has been updated. 2021 revenue forecast fell from AU$29.4m to AU$23.6m. EPS estimate unchanged from -AU$0.005 per share at last update. Hospitality industry in Australia expected to see average net income growth of 54% next year. Consensus price target of AU$1.00 unchanged from last update. Share price rose 5.4% to AU$1.28 over the past week. Recent Insider Transactions • Mar 16
Independent Chairman of the Board recently sold AU$367k worth of stock On the 10th of March, Nicholas Chan sold around 400k shares on-market at roughly AU$0.92 per share. This was the largest sale by an insider in the last 3 months. This was Nicholas' only on-market trade for the last 12 months. Reported Earnings • Mar 02
First half 2021 earnings released: AU$0.008 loss per share (vs AU$0.001 loss in 1H 2020) The company reported a mediocre first half result with increased losses and weaker control over costs, although revenues improved. First half 2021 results: Revenue: AU$7.59m (up 88% from 1H 2020). Net loss: AU$4.44m (loss widened AU$3.88m from 1H 2020). Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 68% per year, which means it is tracking significantly ahead of earnings growth. Is New 90 Day High Low • Feb 15
New 90-day high: AU$0.86 The company is up 81% from its price of AU$0.47 on 17 November 2020. The Australian market is up 7.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Hospitality industry, which is up 5.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is AU$0.15 per share. Major Estimate Revision • Feb 02
Analysts update estimates The 2021 consensus revenue estimate increased from AU$29.6m to AU$31.0m. The company is forecast to report a loss instead of a profit with analysts lowering their EPS forecasts from AU$0.007 to -AU$0.005 for the same period. The Hospitality industry in Australia is expected to see an average net income growth of 18% next year. The consensus price target increased from AU$0.62 to AU$1.00. Share price is down by 6.4% to AU$0.66 over the past week.