Share Price Of BetMakers Zooms Up After Signing An Agreement With BetEasy

  • Dec 03, 2018 AEDT
  • Team Kalkine
Share Price Of BetMakers Zooms Up After Signing An Agreement With BetEasy

On 3 December 2018, The BetMakers Holdings Ltd (ASX: TBH) made an announcement that its wholly owned subsidiary company, Global Betting Services Pty Ltd (“GBS”) has extended and also upgraded its agreement for another 3 years with BetEasy Pty Ltd (“BetEasy”) which is an Australian wagering operator. BetEasy holds a license for Northern Territory in Australia. The Stars group is the major holder of this company BetEasy.

Under this agreement, no update regarding the commercial terms was disclosed with the shareholders, as it was confidential between the two parties. Todd Buckingham, who is the CEO of The BetMakers tried to highlight the importance of the company offering the wagering operator by stating that the operator BetEasy proposed the extension regarding the previous contract and he also highlighted its earlier deal with William Hill Global.

Further, the company also highlights its retail transaction update where it was highlighted that PlayUp Australia Pty Limited has given its first installment worth $750,000 as per the agreement to the company on 30 November 2018 via cheque. The remaining $2 million will be paid by 31 December 2018.

The company is a consistent negative performer. Since its inception, the performance of the company is -68.74%. Since last year, the performance of the company remains -82%.

For the year ended 30 June 2018, the company made a net loss of $5,976,540 which is less than the previous year. The total asset of the company is $15,922,134 and the total liabilities of the company is $3,190,079 which indicates the strong financial position of the company. This also highlights that the company is in a strong position to meet its long-term obligations. The current asset of the company is $6,969,944 and the current liabilities of the company is $3,100,777 which indicates that the company holds a position where it can meet its short-term obligations as well as the net working capital. Further, the company has raised capital by issuing the shares which have led to the total shareholder’s equity worth $12,732,055. However, there is an increase in the accumulated loss in FY2018 as compared to the last year which indicated that the shareholder's wealth was eroded for the period.

From the operating activities of the company, the net cash outflow was $11,411,750. The major source of cash outflow was due to the payment made to the suppliers and employees.

From the investing activities of the company, there was a net cash inflow of $85,695 where the company generated revenues from the Proceeds by the disposal of its business. The other source of cash outflow was the payment made for property, plant and equipment, intangibles and earn-out on previous acquisitions.

From the financing activities of the company, there was a net cash inflow of $9,515,633. Here the main source of income was through the proceeds from the issue of shares. By the end of the year, the net cash available with the company was $1,456,766.

After the announcement, the market price of the share has increased by 12.281% which is equivalent to 0.007 points. At present, the market price of the share is A$0.064 (AEST: 2:25, 3 December 2018) with the stock holding a market capitalization of A$12.77 million.


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