BetMakers Technology Group has provided an activity report for the quarter ended March 31, along with the company’s Appendix 4C cash flow report.
Cash receipts of $27.5m were up 16.8 per cent on PCP (including payments received from Betr during the quarter).
Operating costs reduced a further 8.3 per cent against Q2 FY24, with plans to achieve further cost reductions in Q4 FY24.
Commenting on the quarter, executive chair, Matt Davey said: “We are continuing to execute on our strategy of enhanced operating discipline with the tightening of our operating expenses and focus on higher margin, capital light revenue growth and profitability.
“There is substantial progress being made across the entire business, with new partnerships and new customers, as well as previously announced deals now going live, which are expected to contribute to the fourth quarter and beyond.
“I am proud of the BetMakers team and the way it is delivering on our strategy and transformation. While we are seeing some headwinds in the Australian wagering market, our growing global base is expected to position us to manage these and continue to grow the BetMakers business.
"The pipeline of new growth opportunities is the healthiest we have seen, so we look forward with confidence.”
