BET Discussion 2022
- Thread starter zeeb0t
- Start date
TeddyFiles
Regular
I have attached an extract from an interesting article in today's Financial Review.
'Tom Waterhouse, the racing scion turned fund manager, has saddled up to meet Sydney’s rich and famous in hopes of securing a top-up for his five-year-old fund.
Street Talk understands the team began mailing out pitch decks earlier in January, requesting meetings with Waterhouse (official title, chief investment officer) and Peter Stevens, a portfolio manager.
Potential backers are being told Waterhouse VC is mounting a fundraising push because it sees opportunities in option deals with companies that provide technology services to bookmakers.
The flyer also lists an investment into Project Tennis, a betting syndicate, where Waterhouse VC expects to get its entire investment back in distributions within two years. Another investment, Voxbet, is a Siri/Alexa alternative for sports bettors. Lastly, there’s ASX-listed BetMakers which compiles data feeds for bookies and has lost nearly 56 per cent in the past year.
'Tom Waterhouse, the racing scion turned fund manager, has saddled up to meet Sydney’s rich and famous in hopes of securing a top-up for his five-year-old fund.
Street Talk understands the team began mailing out pitch decks earlier in January, requesting meetings with Waterhouse (official title, chief investment officer) and Peter Stevens, a portfolio manager.
Potential backers are being told Waterhouse VC is mounting a fundraising push because it sees opportunities in option deals with companies that provide technology services to bookmakers.
The flyer also lists an investment into Project Tennis, a betting syndicate, where Waterhouse VC expects to get its entire investment back in distributions within two years. Another investment, Voxbet, is a Siri/Alexa alternative for sports bettors. Lastly, there’s ASX-listed BetMakers which compiles data feeds for bookies and has lost nearly 56 per cent in the past year.
How the heck are betr simply able to walk away 2yrs into a 10yr commitment without paying a break fee?
Think of the upfront $30M payments to Tripp, development costs and time spent supporting betr while they were running promotions to build their customer base but generating little in the way of net gaming revenue.
Lattelarry
Regular
Still doing deals for mates.
Tripp should have never got anything upfront. TB and Jake have to be the stupidest businessmen in Australia to agree to that - or the alternative is much worse.
Normally you will have to hit milestones each year - e.g. x amount of revenue generated gets you a certain bonus and maybe you have 3 tiers that are possible.
Yeah, it’ll be interesting to see how Davey responds. It’ll be more than a little suspicious if Todd isn't sacked and/or an attempt isn’t made to claw back some of Tripp’s payment.
Even if it is a better deal, why wouldn’t the board demonstrate that it acts in the interest of shareholders, rather than giving mates handouts, sacking Todd and/or an attempting to claw back some of Tripp’s payment?
Lattelarry
Regular
I wondered this the other day too. But it doesn't look like shorts have changed much.
Ibetfixed
Regular
Looks like the graph is up until the 17th April and price jump was probably more after that
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