- Flexi Group
BetMakers secures updated terms to NTD Australia wagering shakeup
Australian sports betting tech supplier BetMakers has made amendments to a partnership between its OM Apps subsidiary and the soon-to-be-launched NTD wagering venture.
This will see the annual cap payable to NTD to OM Apps increased by an incremental AUS$2m per annum during the initial 10 year term, and any additional extended term beyond this.
As a result, the maximum cap will increase by AUS$20m over 10 years, whilst there will be no percentage increase applied to the £2m each year.
Scheduled to launch later this year, NTD is projected to become one of Australia’s largest sportsbook operations, backed by a partnership with News Corp Australia.
BetMakers had previously secured terms to support the launch of the new betting brand, alongside Sydney-based gaming developer GTG Studios and Tekkorp Capital, the latter of which is providing financial backing.
The firm’s part in the deal has so far included support for NTD’s acquisition of ‘certain assets pertaining to the wagering business’ of O’Shea Bookmaking, which trades as TexBet and is a long-standing SaaS platform customer of BetMakers.
Updated terms of the agreement relating to TexBet will see BetMakers back the migration of the firm’s customer-base onto the NTD platform and supervise its trading during this time period. The company will also contribute AUS$2.5m over two franchises to support NTD’s takeover of TexBet.
In return, TexBet customer-base NGR will be used to calculate the annual fee payable to BetMakers as part of the partnership, and the latter will also receive ownership and IP rights for the O’Shea sportsbook’s customised betting platform technology.
The current roadmap of NTD’s entry to market will see the brand launch during H2 2022, with Tekkorp CEO and Chairman Matt Davey and President Robin Chhabra joining its Board of Directors.
Commenting at the time of NTD’s announcement, Davey said: “The new venture is a significant investment by Tekkorp Capital and one that I am very excited about. We’re sure this is a good bet for Tekkorp Capital.”