(MENAFN - ABN Newswire)
The BetMakers Holdings Limited (ASX:TBH) (OTCMKTS:TPBTF) ("BetMakers" or the "Company") wishes to provide additional information in respect of the agreement (the "Agreement") announced yesterday, 22 May 2019, between its wholly-owned subsidiary, Global Betting Services Pty Ltd ("GBS") and global wagering technology company, Betgenius Limited ("Betgenius"), for the distribution of GBS' complete racing solution.
At the request of ASX, the Company advises that, notwithstanding the Term of the Agreement expires on 1 May 2021, either party may terminate the Agreement on written notice in the event that the other party:
- ceases to carry on its business, has a liquidator, receiver or administrative receiver appointed, or passes a resolution to wind it up;
- fails to comply with any applicable laws, statutes or regulations relating to anti-bribery and anticorruption, including the Bribery Act 2010; or
- has committed a material or repeated breach of any of its obligations under the Agreement, which is not, or cannot be, remedied within 10 days after receiving written notice to do so.
The Betmakers Holdings Limited( ASX:TBH ), (OTCMKTS:TPBTF) (FRA:T07) formerly TopBetta Holdings Limited,is an ASX-listed holding company and a global provider of online wagering products and services to both wholesale and retail markets through its various wholly owned subsidiaries. The Company operates a retail wagering business, offering consumers wagering, fantasy tournament and content products and services. Global Tote Australia Pty Ltd conducts TBH's Wholesale Business, which includes operating and licensing its wholesale tote product which enables licensed wagering operators, including corporate bookmakers and tote operators from all over the world, to participate in global pools. The Wholesale Business is conducted under a B2B licence granted by the UK Gambling Commission to Global Tote Limited, a company incorporated in Alderney, UK.
Charly DuffyCompany SecretaryE: : + 61-409-083-780Jane MorganMedia RelationsE: : +61-405-555-618