BetMakers Soars on ASX, How are Other Gaming and Entertainment Stocks Performing?

BetMakers Soars on ASX, How are Other Gaming and Entertainment Stocks Performing?

Amidst coronavirus spread apparently posing a threat to travel, leisure and entertainment industry, the stock of BetMakers Technology Group Limited (ASX:BET) surged 56.25% during the day’s trade on 05 February 2020 following an announcement of the agreement regarding horse racing in New Jersey.

The stock rally continued today, trading at $0.400, up 6.7% (3:05 PM AEDT, 6 February 2020).

The Company engages in shaping the future of global racing for regulators, operators and punters through its innovative technology-driven solutions and offers analytics, racing data and trading solutions.

The Company’s stock hit fresh 52-weeks high price of $ 0.425 today.

About The Agreement - First Of Its Kind For Fixed Odds Betting On Horse Racing In The US

BetMakers DNA Pty Ltd (BET’s wholly owned subsidiary) has signed a 10 year agreement with New Jersey Thoroughbred Horsemen Association and Darby Development LLC - the operator of Monmouth Park racetrack, under which BetMakers shall be the sole approved official distributor of Fixed Odds horse racing content in New Jersey.

Details of the agreement are as follows:

  • BetMakers DNA to take care of the delivery and management of the Fixed Odds horse racing into New Jersey;
  • The Company also has the exclusive distribution of Monmouth Park racing content through other parts of the US as well as globally;
  • Moreover, BetMakers shall provide a solution for racing bodies from both the US and internationally to access licensed wagering operators (bookmakers) operating in NJ;
  • However, the material terms of the agreement may be subject to further regulatory approval and operating within the Interstate Horseracing Act.

Following the agreement, BetMakers intend to forge agreements with other global racetracks that might be interested in tapping the opportunities in the NJ Fixed Odds market.

BetMakers has also established the Global Racing Network which will be initially launched in New Jersey.

Additionally, the collaborative work between BetMakers, Monmouth and the associated parties shall help to provide data and reliable reporting solutions in order to maintain racing integrity on all Fixed Odds betting on racing in New Jersey.

Way Ahead for BetMakers

BetMakers shall now begin discussions with relevant bookmakers operating in New Jersey as well as potential operators in the region, who would be keen to put in Fixed Odds horse racing to their offerings.

Before the 2020 season, the CEO and other representatives of Monmouth Park look forward to visiting Australia to meet with Racing officials in order to well recognise the significance of the way Australian industry has been influenced by fixed odds.

Lately, the Australian entertainment industry is estimated to take a hit due to the prevailing travel ban from China in light of the coronavirus outbreak. However, some of the stocks look like defying the odds and are enduring through daily trade in the green zone.

Star Entertainment Group Limited (ASX:SGR) Gradually Climbing Up The ASX Ladder

The stock is trading at $4.210 on 6 February, up by 0.72% during the day’s trade on 6 February 2020 (3:05 PM AEDT).

SGR witnessed a continued growth in its high-quality tourism, gaming and entertainment assets across Sydney, Brisbane and the Gold Coast during FY19 and was combined with solid domestic results.

Star Entertainment believes that it carries the potential to become a global tourism and entertainment destination that shall rival Queen’s Wharf for scale and be an absolute signal to drive the growth in the visitors and substantial economic benefits to the region.

The Company has a well-documented commitment of potential $9 billion investment in South East Queensland, which once completed would value at more than nine billion dollars’ worth of tourism assets and investments into south-east Queensland.

This is a significant opportunity and a wonderful catalyst for employment across a diverse range of role with expected jobs of around 1,800 construction jobs and additional 3,000 jobs at the Gold Coast once the project is completed.

The group’s overall robust performance and the strengthened balance sheet compelled the Board to declare a final dividend of 10 cents per share fully franked.

Lens Through SkyCity Entertainment Group Limited (ASX:SKC)

Gaming entertainment player, SkyCity Entertainment is trading in the green zone on 6 February 2020 at $3.510 (3:05 PM AEDT). Being the entertainment sector player, the Company strives to offer its customers a fun and exciting experience along with a variety of entertainment options in a modern-day environment.

Based in Auckland, SkyCity Entertainment is one of Australasia's leading gaming and entertainment companies, employing over 3,400 people in New Zealand and Australia through its operations (Casino, Hotels, Bars and Restaurants etc.) in Hamilton, Adelaide, Queenstown and Auckland.

The Company has experienced solid performance from local business and also growth in the IB turnover and has major projects pending in Auckland to be completed by the end of 2020. For the year ended 30 June 2019, the Normalised NPAT was up 19% and reported NPAT was down 14.7%, while also reporting the record full-year turnover of $14.1 billion.

SKC looks forward to maintaining and enhancing sustainability initiatives like new staff values, adopting carbon-neutral strategies, along with focusing on diversity and inclusion.

Casting Eye on Event Hospitality & Entertainment Limited (ASX:EVT)

Being Australia’s premier entertainment, hospitality and leisure company, EVT currently operates within the Entertainment and Hospitality sectors in Australia, New Zealand and Germany through its broad array of brands under entertainment as well as hotel and resorts and property divisions.

Recently, the EVT’s board approved a final fully franked dividend for the year of 31 cents per share, and the Group has planned major property developments, a number of upgrades and improvements for its properties.

The Group has several future developments in progress which are subject to all necessary approvals like improved and extended Friday Flat facilities, the chairlift replacement plan and increased car parking.

The Company acknowledged that the sector of Company’s operations remains unclear and continues to vary with the influence of weather and industry conditions as well as the strength of the film line up. However, the Company maintains its emphasis on persistent development across all areas that are in the scope of Company’s control.

The EVT stock is trading at a price of $ 12.660, up 0.48% with a market capitalisation of $ 2.03 billion.

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There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.

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