BetMakers Technology Group (ASX:BET) Acquires LVDC to Expand in Las Vegas
Strategic Acquisition
BetMakers Technology Group Ltd (ASX:BET) has entered into a binding heads of agreement to acquire Las Vegas Dissemination Company (LVDC), the only approved provider of horse and greyhound pari-mutuel wagering in Nevada. The acquisition is expected to generate approximately A$4 million in annualised revenue and enhance BetMakers’ presence in the North American market.
Financial Impact
LVDC’s business is projected to be profitable within 12 months, leveraging strong cost synergies across the BetMakers group. The acquisition will also expand BetMakers’ product suite and enable additional pari-mutuel services throughout Nevada, with existing contracts from major casinos like MGM Resorts and Caesars Entertainment.
Executive Comments
CEO Jake Henson stated, “We are excited to announce the potential acquisition of LVDC. A strategic step that strengthens our position within the North American market and expands connectivity with world-class global wagering operators through the BetMakers network. This acquisition would not only give us access to the dynamic Nevada gaming market but also creates a strong platform to showcase innovation in horse racing technology and retail wagering experiences. We are pleased to welcome the LVDC team into the broader BetMakers and Global Tote group as we move into the next phase of growth and execution.”
Motley Fool contributor Aaron Shaw has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Betmakers Technology Group. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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