Topbetta is an up and coming bookmaker from Australia, which continues the expansion moves. As it was announced by the Australia ASX-listed online bookmaker TopBetta Holdings Limited (TopBetta), it has agreed to acquire racing specialist bookmaker Mad Bookie Pty. As it was referred by the governance of the company, the price of the acquisition will be paid within 12 months, allowing that way the TopBetta business to maintain cash flows over the initial period. The upcoming bookie wants to expand its profile within the Australian market and will takeover all assets of Melbourne-based Mad Bookie., including its +15,000 player database of Mad Bookie, its partnerships and IPs.
Todd Buckingham, who is the TopBetta CEO commented on the deal: «The acquisition of Mad Bookie has the potential to quickly and substantially increase turnover for TopBetta’s retail business while adding significant revenues due to higher yields and cost savings through aligning the synergies between the businesses. To acquire a ready-made, active database like Mad Bookie’s under this arrangement makes a lot of sense in an industry that has high customer acquisition costs, and we will certainly be on the lookout for similar deals should they arise in the future, both here in Australia and Internationally.».