News Corp Australia and Tekkorp’s new NTD Pty gaming venture will acquire assets from local operator TexBet as part of a contract change with betting supplier BetMakers.
NTD, backed by BetMakers, has agreed to purchase certain assets owned by O’Shea Book Making Pty, which trades as TexBet. TexBet is a longtime BetMakers customer of his SaaS platform.
Upon completion of the sale of TexBet, BetMaker will receive ownership and intellectual property rights to the betting platform technology currently owned by TexBet and will also support the migration of TexBet users to the NTD platform.
It follows the initial deal agreed in April when the NTD venture was first announced, with News Corp operating the venture with the backing of gambling executives Matt Davey and Matt Tripp of Tekkorp, He said that BetMakers technology will drive NTD.
The deal says BetMakers subsidiary OM Apps will provide B2B platform technology and betting solutions to NTD, which will focus on Australia and New Zealand.
At the time, BetMakers said the deal included the potential to earn more than A$300 million (£175 million / €207 million / US$210 million) and the revenue-sharing deal was for the first 10 He said that meant BetMaker would generate at least $80 million in annual revenue. handle.
The cap on annual fees paid by NTDs will increase by $2 million each year of the 10-year contract, with a maximum cap increase of $20 million during this period.
The Net Gaming Revenue (NGR) generated from TexBet’s customer base forms part of the NGR used to calculate the annual membership fee payable to BetMaker.
Additionally, it was agreed that BetMaker would donate a total of $2.5 million in two tranches towards the purchase of TexBet by NTD.
The NTD venture is expected to launch in Australia later this year.
