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News Corp Australia to Acquire TexBet Assets
News Corp Australia’s new bookmaker, NTD, should be up and running in a few months and the people behind it are losing no time in making sure it is as competitive as possible when it goes live. The deal NTD, BetMakers and TexBet signing proves that.
BetMakers Will Help the Migration of TexBet Punters to NTD
With BetMakers’ support, NTD recently agreed to buy assets from O’Shea Bookmaking Pty. O’Shea Bookmaking trades as TexBet, and TexBet uses a BetMakers’ betting platform, so it is clear that BetMakers was heavily involved in brokering the deal.
Under the acquisition agreement, BetMakers will get IP and ownership rights of the TexBet betting platform. It will also facilitate the migration of all TexBet customers to NTD, getting News Corp Australia’s new bookie off to a great start user-wise. BetMakers will pay $2.5 million over two tranches to TexBet.
BetMakers Could Get $100 Million Over 10 Years
In April, News Corp Australia announced that it will launch a new betting operator later this year. NTD is backed by BetMakers’ advisor Matt Tripp and Matt Davey of Tekkorp. BetMakers will be News Corp Australia’s technology supplier. It will provide the wagering platform to NTD and will focus on two betting markets – Australia and New Zealand.
When the launch of NTD was announced, it was estimated that the new betting operator could generate over $300 million and that BetMakers could get over $80 million over the first ten years as a result of the revenue share agreement between the companies.
However, after the TexBet deal, changes were made to the initial arrangement so that BetMakers could get more. The fee NTD will now have to pay will annually increase by $2 million, meaning NTD will pay a maximum of $20 million extra to BetMakers over the first ten years of the deal.
The amount of money NTD will pay to BetMakers will be calculated using Net Gaming Revenue (NGR) from TexBet customers (users who joined NTD from TexBet).
