Tech: Betmakers shares surge as gaming giant GVC agrees to a global product rollout
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Betmakers Technology Group (ASX: BET) has become the latest small cap tech stock to surge from a ringing endorsement.
Global betting giant GVC Holdings — which owns gaming companies such as Neds and Ladbrokes — will rollout Betmakers’ technology across its global platforms.
Specifically, GVC will integrate BetMakers’ Fixed Odds and Price Manager systems. And BET’s live streaming racing channel will be rolled out across all of GVC’s brands and their platforms in Australia.
BetMakers already had an arrangement with one GVC brand, Labrokes, but now it is extending to all brands.
The roll out will also occur in the UK, although in the Old Dart it will begin with a custom-built trading platform.
In announcing the deal, GVC directors Glynn Carroll and Jamie McKittrick called BetMakers “the leading provider of racing technology globally”.
They said they were “very excited” about using BetMakers’ products and came from their customers’ expectations for the best market offering.
Betmakers’ shares jumped as high as 110 per cent higher at the market open but have settled at 17.5 cents – 80 per cent higher than yesterday’s closing price. Since the start of 2019 shares have gone up 280 per cent.
Kleos Space (ASX: KSS) announced two more pre-orders for their Scouting Mission. The customers were Geocinecias E.I.R.L and Brazilian HEX Geospatial Technologies. Their order book for South America now stands at three and revenues are expected to commence from the first quarter next year. However cash flow is contingent on Kleos’ Scouting Mission being launched and this is not a legally binding contract. Shares jumped 4 per cent this morning.
GetSwift (ASX: GSW) has announced a teaming agreement with Patriot Defence Group (PDG). Florida-based PDG is a service provider to the US defence force as well as its allies. GetSwift shares rose 18 per cent this morning and have tripled in the last 2 months. However the company admitted it may be legally unable to announce specific business resulting from this agreement.