The Board of BetMakers Technology Group Limited (“BetMakers” or “the Company”) (ASX:BET) is pleased to announce the Company’s results for the half-year ended 31 December 2019.
Highlights for the half-year ended 31 December 2019, the Company reported:
Revenues of $4.04 million (an increase of $1.26 million above the corresponding prior year period)
EBITDA of $0.65 million (an increase of $2.82 million above the corresponding prior year period)
‘Underlying’ EBITDA of $0.57 million (an increase of $2.51 million compared to the corresponding prior year period)
The Company also reported a 31 December 2019 cash balance of $2.70 million, and net-current assets of $2.88 million.
The Board is very pleased with the progress of the business, which has now established a strong financial base. The Company continues to expand its customers and product offering in its existing markets.
The Company has also recently announced its expansion into the US and an agreement with Tom Waterhouse which it expects to see the benefit of these deals to be realised in FY21 and beyond.
The Company would like to reaffirm its previous guidance of $10 million in revenue for FY20