The Government of Western Australia (WA) has increased enforcement powers and penalties to bolster the regulation of WA’s gambling industry through law reform.

The reforms address the findings and recommendations of the Perth Casino Royal Commission which found that the legislation needed to be modernised to be fit for purpose.

Amendments include significant increases in a range of penalties when there is a failure to comply with gambling laws and directions issued by the Gaming and Wagering Commission (GWC).

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Gaming and Wagering Commission Chair Gary Dreibergs said: “I welcome the reforms which will greatly assist the Gaming and Wagering Commission in our important task to enforce gambling laws and disrupt illegal gambling in WA.

“The substantial increase in penalties will act as a more effective deterrent and a more appropriate punishment for law breakers who may regard current lower penalties as an acceptable risk when they consider the profits that can be made from subverting the laws.

“The extra powers for the GWC will help to significantly boost our ability to carry out successful investigations and prosecutions to stamp out illegal activity, which often attracts money launderers and organised crime gangs.”

BlueBet Holdings has signed a binding Asset Sale Agreement to acquire certain assets of Merlehan Booking Pty Ltd (TopSport).

To support the acquisition, BlueBet is undertaking an institutional placement to raise approximately $15.0 million by issuing around 44.1 million new shares. The proceeds will fund the upfront payment to TopSport and support integration, migration costs, working capital and further growth initiatives. The placement is priced at $0.34 per share, representing a premium over recent trading prices, and is set to settle on 12 February 2025.

The acquisition leverages BlueBet’s repeatable M&A model, driving industry consolidation and creating shareholder value. TopSport is expected to enhance BlueBet’s margin advantage, share of wallet, and customer engagement through BlueBet’s technology platform, including its personalised promotion engine.

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“The acquisition of TopSport materially enhances BlueBet’s profitability and scale, is highly accretive for our shareholders and brings us closer to our strategic target of 10%+ market share in Australia. Inorganic growth remains a key opportunity for BlueBet and we have a laser focus and a repeatable M&A model to drive shareholder value by further consolidating the Australian wagering market. This transaction is a blueprint for further M&A and delivers a high conversion of Net Gaming Revenue to EBITDA as we leverage our previous investment in our proprietary technology, brand and best-in-class management team. Tristan Merlehan is one of this country’s most-respected bookmakers and will further strengthen our market-leading risk and trading capability, driving margin improvement and sustainable profitability for shareholders,” BlueBet CEO Andrew Menz said.

BetMakers Technology Group Ltd announced that its subsidiary, BetMakers MTS LLC, has acquired intellectual property and software from Protocol Zone Private Limited, a specialist developer of wagering software.

The intellectual property acquired from Protocol Zone includes; digital tote technology, API data feeds, proprietary trading and ratings models, amongst other tools, which will all form part of the new GTX software that BetMakers expects to release in FY25.

GTX will provide BetMakers’ international ADW and tote wagering customers with a new tote wagering platform that is expected to deliver enhanced performance and a greater user experience. GTX is expected to lower BetMakers’ cloud and infrastructure costs relating to its ADW platforms in the US and other jurisdictions of which there are currently ~20+ customers.

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Importantly, GTX’s modern architecture and module-based application will allow for the deployment of sports betting, daily fantasy and iGaming products for customers looking to upgrade their existing racing tote only offerings. GTX is also expected to be integrated with BetMakers fixed odds managed trading service as well as the Racelab ProFORM betting prompts.

Protocol Zone Managing Director, Kartik Modi, has also agreed to contract to BetMakers exclusively for an extended period of 3 years acting as BetMakers’ Country manager in India where he will oversee operations in India along with exploring opportunities in the Asia region.

Karl Begg, VP of Technology at Global Tote, said: “We have been working with the team at Protocol Zone for 18 months now and have found them to be extremely efficient with a great domain knowledge across wagering and horse racing.

“We are excited to be finalising this deal as we get ready to release our new upgraded Tote, Reporting and Digital product suite into the market, called GTX. We believe that the new offering will be a game changer across our tote business and we are confident it will be well received by the broader market and our existing customer base once launched.”

Komal Modi, CEO of Protocol Zone, said: “Today marks a significant milestone in Protocol Zone’s journey as we announce the acquisition of our intellectual property and software by BetMakers. This partnership represents more than just a business transaction, it’s a testament to the innovation, dedication, and expertise our team has demonstrated in developing cutting-edge wagering technology over many years and we look forward to continuing this journey as part of BetMakers.”

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