Quickly becoming the go-to supplier of critical data within the global wagering industry, RAS Technology (ASX: RTH) has been engaged by Playbook Engineering, a leading UK-based platform provider, for wagering technology, racing data, and editorial content for Playbook’s diverse portfolio of sportsbook brands.
The 3-year contract is expected to be valued at $800k per annum and underscores RAS’s commitment to expanding its global footprint and capitalising on the booming online sports betting industry in Europe.
Playbook Engineering, known for its flagship brand Star Sports and a presence in over 10 reputable brands within the UK, has established itself as a powerhouse in the European market, particularly in the online sphere.
As part of the partnership, RAS will integrate its best-in-class wagering technology solution,, ensuring that all affiliated brands, including Star Sports, DragonBet, Rhino and AKBets, PlanetSportBet, VickersBet, and YeehaaBet, have access to advanced data that can help optimise their books.
The comprehensive offerings from RAS include state-of-the-art pricing solutions and access to the world’s best horse racing data and content. The partnership is set to elevate the betting experience for Playbook’s sportsbooks, providing them with a competitive edge in the dynamic and fast-paced world of online wagering.
Negotiations with individual sportsbooks are now underway to finalise the specific requirements and commercial arrangements for each brand. With exclusivity being a key feature of the agreement, RAS anticipates significant additional revenue through these negotiations, as the first customer on the platform is expected to go live in mid-January 2024, with others following shortly thereafter.
“We are excited to be working with Playbook and look forward to identifying new opportunities to help improve their platforms,” said RAS Technology CEO, Stephen Crispe.
“This deal is the first of its kind in the UK, our key growth market, and provides strong validation of our global strategy.”
For FY23, RAS Technology reported $11.7m revenue which represented a 41% increase on the previous year. This growth delivered $262k EBITDA, an inflection from the previous year’s $2.2m loss.
RTH shares jumped to a high of $0.975 in early morning trading following news of the Playbook partnership, up from the previous $0.93 close.
The Company listed on the ASX in 2021 at an IPO Offer Price of $1.50 per share.
Alfred Chan is a Business Reporter at The Sentiment specialising in ASX-listed small cap companies, bloodstock enthusiast and former Analyst.
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