BET is in the gaming industry but unlike a bookmaker is in more of a niche are providing data and services to Bookmakers and Operators. I bought in my personal portfolio during the inital Covid panic when it was clear they would not be that affected yet the Share price had been hit hard.
Two key things make this a great opportunity for me. One is they recently won a ten year deal to provide and manage fixed odds in The U.S. The U.S is market is fairly new (legally that is) to gambling and BET has a foot in the door.
The second and for me more important is the deal to work in partnership with Tom Waterhouse. I have some experience in the Betting industry and while I am not the guys biggest fan, I acknowledge that he knows the game inside and out and knows how to win.
I am happy to get on board and take a shot at this one while Tom has significant skin in the game.
Nice neat cap raise at 37c, unfortunatley they shafted retail holders.. also appears a bit leaky with some of the price action recently which is not a great sign.
In saying that, Company is making big moves and has momentum so I won't be going anywhere, but I am in no rush to top up either.
$35m placement to equity investors to be completed. This is an issue of 94.6 million shares at 37c a share. It values the company at around $210m and the offering is a reasonable discount to last close.
Really interesting company with lots of growth prospects if it can deliver strong IP and products to the industry. Betting in the U.S. is set to take off and these guys have a strategy and path within that market. Definitely one to watch.