BetMakers has announced that its Chief Financial Officer Anthony Pullin has given his notice of resignation.
Pullin has been with the Australian-based firm for the last five years and, according to the company, he has been instrumental in the growth and development of the business.
“We thank Anthony for his significant contribution to BetMakers. Over the past 5 years Anthony has been a valued senior team member, adding financial rigour to our business,” said BetMakers CEO Jake Henson. “He leaves BetMakers in a strong position, with the foundations now in place for the Company to achieve profitability. We wish Anthony all the very best for his future endeavors where I have no doubt he will be an extremely highly valued team member.”
In the interim, BetMakers Group Financial Controller Warrick Van Der Merwe will take over Pullin’s role, however the company says the process for appointing a replacement has progressed and it expects to provide a further market update shortly.
Punting Form satisfies special event
In the same announcement, BetMakers confirmed that Punting Form has produced North American racing content which satisfies a special event of the share purchase agreement agreed between the two firms during BetMakers acquisition of the horse racing intelligence and rating systems provider in 2022.
By creating North American race and sectional data Punting Form will be paid AU$3 million by BetMakers.
“This represents the completion of the initial consideration for the Punting Form business and we are pleased with the development of the product as well as the underlying performance of the business so far. Over the next 12 months BetMakers will further integrate the Punting Form asset into our core offering, including into the NextGen wagering platform,” commented Henson.
BetMakers will pay AU$500,000 initially in cash and then the company’s board will determine the composition of the remaining AU$2.5 million. Per the agreement, the amount can be paid in cash, ordinary shares or a combination of both at the company’s discretion.
BetMakers launch historic fixed odds
BetMakers made history last year when it launched Monmouth Bets in New Jersey, which was the first legal and regulated fixed odds betting on horse racing in the U.S.
The app allows horse racing fans to place fixed odds bets on races at Monmouth Park in Oceanport, New Jersey.
