BUZZ-Australia's Betmakers soars on higher rev forecast, funding

Reuters
2024-11-25
BUZZ-Australia's Betmakers soars on higher rev forecast, funding

** Shares of Betmakers Technology BET.AX rise as much as 12.5% to A$0.135, their highest since May. 13

** Co sees higher rev in H2 vs H1 due to lower operating expenses, incl from cloud costs and job cuts

** Expects operating cost under A$60 mln ($39.1 mln) target

** Secures $3 mln debt facility with U.S.-based Tekkorp Holdings

** Over 5.6 mln shares tarded, 2.7x the 30-day avg

** Stock has gained about 54% YTD

($1 = 1.5337 Australian dollars)

(Reporting by Nikita Maria Jino in Bengaluru)

((Nikita.Jino@thomsonreuters.com;))

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