Ann: BetMakers to power new wagering venture, page-72

Was just trying to do a rough calculation of what this deal mean to BET. Please feel free to correct.


Pointsbet [PBH.ax] reached 136m$ net game revenue in Australia in 4 years. Considering News corp will have a big machinery of news outlets at its disposal I would assume that they reach the same amount in 4 years.

Max revenue cap in year 4: 29.28m$

In year 4, BET will earn 21% of 140m$: 29.4m$ - since the cap is 29.28m$. So they will reach their cap in year 4.
[in year 5, the cap will be 32.21m$]
+ they will earn "Development & Service Fee of a minimum $7.5 million per annum"
- I would assume that it will be more than the minimum amount but lets just assume 7.5m$ here.

Total rev from this deal in year 4: 36.78m$

This is on top of the other deals which BET is currently on - in 1HF22 they had a net operating cash flow of +1.8m$
- so they are very close to generating net profit on an ongoing basis anyways.

1HF22 Gross profit margin was 74%. Assuming the same margin here, this deal will give 27.2m$ of PBT. with 30% tax
~ 19 m$ NPAT.