Final part of my notes on RTH, ahead of the much anticipated call!

Discl: Not Held

COMPANY PROFILE AND GLOBAL REACH

Racing and Sports (RAS) is a publicly listed (ASX: RTH) Australian company that offers integrated data, analytics, content, and wagering technology for the global racing and wagering sectors. It has been operating since 1999 and is headquartered in Canberra, with additional offices in Sri Lanka, the UK, New Zealand, and the United States.

They process data from over 1,000 racing centres across 30+ countries, spanning thoroughbred, harness, and greyhound racing.

SERVICES & CAPABILITIES

Enhanced Information Services: B2B solutions including premium analytics, predictive animations, infographics, and betting content delivered via APIs to operators and racing bodies worldwide.

Wagering Technology & Trading Platforms: Offers SaaS-based trading solutions (e.g., Trading Manager Platform) and fully managed trading services (MTS).

Digital & Media: Operates a content-rich website with 3+ million unique users annually and 60+ million page views, offering news, racecards, form guides, and digital advertising reach globally.

The Wholesale Data, Content & Distribution segment contributed to 64% of its revenue around its IPO in late 2021, highlighting its core strength in data services

CUSTOMER FOOTPRINT

RAS serves a diverse roster of prominent clients including major wagering operators and racing entities:

• Global bookmakers: Entain (Ladbrokes, Neds), Flutter (Sportsbet, Paddy Power, Betfair), Bet365, Singapore Pools
• Australian racing bodies: Tabcorp, Racing Victoria, Australian Turf Club
• Major international operators: Hong Kong Jockey Club

This underlines RAS’s credibility and presence across several key betting markets.

In the UK, RAS continues to gain market share in data and trading services, securing exclusive agreements — for example, as the sole racing data/trading provider for Pragmatic Play (servicing brands like DAZN Bet and Quinn Bet)

GLOBAL STANDING & MARKET POSITION

Extensive global coverage: With data from 30+ countries and over 1,000 venues, RAS has a strong breadth of form and racing data.

Prestigious clientele: The fact that they serve leading operators like Entain, Flutter, Bet365, and HKJC matches them with the top tier of racing data providers.

Expanding reach: Strategic wins (e.g. Pragmatic Play in the UK) and ARR growth indicate they’re competitively scaling in key betting jurisdictions. Acquired Hong Kong racing publications via Racing and Sports Asia (RASA), boosting regional presence in a high-growth (17%) APAC market

WHAT GIVES RTH THE EDGE OVER COMPETITORS

1. Integrated Service Offering - RAS bundles enhanced data (15B+ data points), SaaS wagering technology, and media/digital reach—all under one roof. This holistic approach is rare among competitors
2. Global Footprint & Diverse Code Coverage - RAS covers 1,000+ race centers across 30+ countries, spanning thoroughbred, harness, and greyhound racing. Not many rivals offer this breadth
3. High-Profile Client Base - RAS serves major operators and racing bodies—including Entain (Ladbrokes, Neds), Flutter (Sportsbet, Paddy Power, Betfair), Bet365, HKJC, Tabcorp, Racing Victoria, Singapore Pools. These are some of the largest brands in global wagering
4. Tech-Driven Products & Partnerships - Offers creative tools like predictive animations, infographics, and fully automated trading platforms (SaaS and Managed Trading Services). Partnerships with Stake, Matchbook and XB Net showcase RAS’s strong trade integration and launch capabilities for new markets
5. Media & Digital Platform Synergy - RAS isn’t just B2B; its consumer-facing platforms draw 3M+ unique users annually with 60M+ page views, creating cross-sell opportunities and brand visibility not offered by pure-data providers

In that light, RAS is a leading global provider, especially for form analytics, digital content, and integrated wagering tech. While not as dominant as Equibase in the US or Timeform in the UK, RAS stands out through its holistic approach and growing client base.

Racing and Sports (ASX: RTH) is firmly positioned among the top global racing-data suppliers, with considerable scale, diverse services, and key client relationships. Their competitive edge is their integration of data, technology, and media — making them a serious player globally, especially for operators seeking comprehensive wagering and form solutions across multiple jurisdictions.

RTH’S CLOSEST COMPETITORS

RTH sits in the data, analytics, and wagering services niche, not the tote hardware business. Its direct competitors are other racing data, analytics, and pricing feed providers, rather than the big tote operators.

Racing and Sports competes most closely with Timeform, Equibase, and BetMakers in the data & content supply niche, while also differentiating itself by being independent + globally integrated.