BetMakers to buy Las Vegas Dissemination Co for $800,000, launches $6.65M capital raise

Australia’s BetMakers Technology Group has entered into a binding agreement to acquire Las Vegas Dissemination Company (LVDC), Nevada’s sole licensed provider of pari-mutuel racing services for horse and greyhound betting, in a deal worth $800,000.

The proposed acquisition includes 100% of LVDC’s assets and remains subject to regulatory approvals and satisfactory due diligence, the company said in a statement.

To fund the deal and strengthen its balance sheet, BetMakers also launched a capital raise targeting AU$10 million ($6.65 million) at a fixed price of 10 Australian cents per share, representing a 4.8% discount to its last traded price.

The institutional placement is not underwritten, though major shareholder Tekkorp Capital has committed to subscribe for AU$1 million worth of new shares. A retail share purchase plan is expected to raise an additional AU$1 million.

Proceeds from the raise will be used to repay outstanding debt, finance the LVDC acquisition, support working capital, and fund new content and access agreements.

LVDC holds exclusive Nevada licences for disseminator, live broadcast disseminator, and pari-mutuel systems operator roles. It serves prominent Las Vegas casino operators such as Wynn Resorts, MGM Resorts, and Caesars Entertainment, along with sportsbooks, racebooks, taverns, and online platforms across the state. The company also manages international racing pool integration, including events in North America.

“This acquisition would not only give us access to the dynamic Nevada gaming market but also create a strong platform to showcase innovation in horse racing technology and retail wagering experiences,” said Jake Henson, CEO of BetMakers.

The acquisition is expected to generate around AU$4 million ($2.64 million) in annualised revenue for BetMakers, with cost synergies anticipated to improve LVDC’s profitability.

“We are excited to announce the potential acquisition of LVDC. A strategic step that strengthens our position within the North American market and expands connectivity with world-class global wagering operators through the BetMakers network,” Henson added. “We are pleased to welcome the LVDC team into the broader BetMakers and Global Tote group as we move into the next phase of growth and execution.”

As part of the acquisition structure, BetMakers will pay an initial $25,000 to LVDC, regardless of the transaction’s outcome following a 45-day due diligence period. If the company proceeds, it will pay the remaining $225,000 deposit toward the total $800,000 price.