BetMakers Raises $9 Million USD to Fund Two U.S. Acquisitions

BetMakers Technology Group is making a move to strengthen its U.S. operations with two upcoming acquisitions. Backed by fresh capital raised from both institutional and retail investors, the ASX-listed company is taking steps to scale up its presence in the American racing and betting market.

Good to know

• BetMakers raised A$13.7 million through a placement and share purchase plan.
• Funds will repay debt and support U.S. acquisitions and content deals.
• Acquisitions include LVDC in Nevada and software assets from Protocol Zone.

The capital raise included A$12.5 million from institutions and A$1.2 million from an oversubscribed share purchase plan. Shares were issued at A$0.10 each, in line with the earlier institutional round.

Part of the new funding will be used to fully repay existing debt. BetMakers also intends to invest in licensing and content agreements tied to its fixed-odds betting operation in New Jersey.

The first acquisition on the table is Las Vegas Dissemination Company (LVDC), a licensed Nevada provider of pari-mutuel services. BetMakers signed a binding term sheet to acquire the company for $800,000, pending regulatory approval. Plans are already in place to upgrade LVDC’s infrastructure and expand its service reach beyond Nevada.

The second deal involves Protocol Zone, a U.S.-based software firm. BetMakers is acquiring its intellectual property to boost the Global Racing Network platform, especially in areas like pricing, data delivery, and in-race odds. This deal is expected to close by August 1.

With both acquisitions, BetMakers is targeting operational upgrades and content delivery improvements as it continues expanding into the U.S. market.