Tekkorp Capital is joining forces with News Corp Australia and Matt Tripp, former Founder and Chairman of Sportsbet and CEO of BetEasy, to launch a new Australian sports betting venture.
Backed by the North American investment fund founded by Matt Davey, the new betting venture will have its platform and services provided by global wagering technology solutions supplier BetMakers Technology Group.
Alongside the significant investment, the venture will also benefit from the Australian wagering market knowledge of Davey and Tekkorp Capital’s President, Robin Chhabra, and their history of success in delivering value from media-wagering partnerships. Davey and Chhabra will join the board of the new venture as well.
Commenting on the development, 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.”
The venture appealed to Tripp due to the consortium team’s strength and the opportunity to continue delivering innovative products and experiences to the Australian market.
Chhabra, an M&A adviser in the digital gaming sector, founding CEO of FOX Bet, and a former Board Director of BetEasy, added: “The Australian online sports betting market has been booming but is ripe for innovation and competition. This consortium has the mix of skills, experience, and capital to become a significant player.”
BetMakers CEO, Todd Buckingham, stated: “We are excited to partner with the Consortium to enter this space under our proven business model. We feel this partnership cements the company as a leading provider of B2B platforms and software to the wagering industry.
“This deal will allow the company to demonstrate that we are a viable pathway for large scale operators that want to enter markets quickly and efficiently, allowing them to focus their resources into marketing strategies.
“While this deal is focused on the Australian market, we feel this model will play an important part of our international expansion.”