Newly listed Australian racing and betting data provider RAS Technology sees revenue soar

A recently listed provider of data and content solutions to the global racing and betting industries reported a 90% increase in revenue and 93% growth in profit for the six months to December 31, 2021.

RAS Technology Holdings, which says it currently backs offerings from Australian sportsbooks Sportsbet, Tabcorp, Ladbrokes, Bet365, Betfair and BlueBet, among others, listed on the Australian Securities Exchange in November after raising $11.2 million Australians through an initial public offering. Among those who signed up for a “meaningful stake” in the company via its IPO was British gaming giant Entain, with RAS Technology saying in its earnings announcement on Monday morning that it was “working with Entain to explore trade deals and future product roadmaps.”

While EBITDA for the six months to December 31, 2021 was a loss of A$1.1 million due to IPO costs of A$1.8 million and resource investments of management, commercial and development revenue increased 90% from the same period in 2020 to A$4.28 million. Gross profit increased by 93% to A$3.6 million.

RAS Technology said it has completed a series of strategic initiatives since its IPO, including expanding a commercial agreement to provide its Trading Manager technology and Race-Day Control services on behalf of XB-Net racetracks, which represent 60 racetracks and cover 45,000 races. per year in the United States and Canada. The company has also signed an exclusive strategic partnership agreement with Sky Racing World, a subsidiary of Tabcorp, in the United States.

“The company continues to expand its international footprint with half of 51% of revenue coming from outside Australia (vs. 31% in HY21) – the strongest growth areas being the UK and the US United,” the company explained.

“International expansion is one of the company’s strategic growth initiatives.”

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