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RAS Technology Holdings Ltd (ASX: RTH) ('RAS' or 'the Company') has today announced an expanded five-year contract extension valued at $5M to become the provider of all enhanced racing content to the Entain Group Pty Ltd (Entain) in Australia.
Entain, the leading global sports betting and gaming entertainment operator, which operates Ladbrokes, Neds, Betstar and Bookmaker in the Australian market will access new thoroughbred content from major racing jurisdictions along with international greyhounds, enhanced by Racing and Sports' analytic data and live feeds.
Entain will also gain access to Racing and Sports' global Ratings framework. This framework can be utilised by Entain's trading team to develop mathematical modelling and pricing feeds across multiple jurisdictions.
This new expanded commercial arrangement, together with existing analytic data, will provide Entain Australia with consistent, high-quality content throughout its entire Australian online offering. The key terms of the agreement are set out in Annexure A.
Stephen Crispe, CEO, Racing and Sports said: "Over the years, Racing and Sports have independently collated historical data from all corners of the world and we are now finding this data is useful for the traditional bettor but can also be visually presented for the new or casual bettor and we pride ourselves on listening and meeting the needs of our customers.
"We are thrilled to have secured this long-term agreement with Entain Australia. It is apparent there is an appetite to present data, whether it be thoroughbred, harness or greyhounds, in a more innovative way, while not forgetting those enthusiasts who enjoy studying form on all three codes in a more traditional way. With our annualised recurring monthly revenue of $9m as at March 31, 2022 this upsized agreement with Entain provides an excellent platform for the Racing and Sports' continued growth."
Dean Shannon, CEO of Entain Australia said: "Racing and Sports have proven a reliable and consistent provider of high-quality data and live feeds and it makes complete sense to take our commercial partnership to another level." ASX Announcement 2.
"Entain Australia prides itself on being customer centric and it is crucial we provide the best, most accurate and up-to-date information, displayed in an easily accessible format." "Racing and Sports have a strong heritage in this space, but importantly they are always looking to innovate and enhance their offering, which mirrors the mindset of Entain."
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About Racing and Sports
Founded in 1999, RAS Technology Holdings Limited (Racing and Sports) is a leading provider of fully integrated premium data and enhanced content to the global racing and wagering industries. It services consumer and enterprise markets and its clients span the spectrum of the racing and wagering industries such as Entain Group (including Ladbrokes and Neds), Flutter Group (including Sportsbet, Paddy Power and Betfair), Tabcorp, BlueBet Holdings Limited (ASX: BBT), bet365, Singapore Pools, Australian Turf Club, Hong Kong Jockey Club and Racing Victoria.
About Entain Australia
Entain plc (LSE: ENT) is a FTSE100 company and is one of the world's largest sports-betting and gaming groups, operating both online and in the retail sector. The Group owns a comprehensive portfolio of established brands. Sports Brands include Ladbrokes, Neds, Betstar and Bookmaker in the Australian market. The Group's commitment to delivering sustainability and growth is recognised through its membership of the FTSE4Good and DJSI ESG indices, which identify companies that meet globally recognised corporate responsibility standards. For more information see the Group's website: www.entaingroup.com
The Company previously entered into an Agreement in October 2020 for an initial term of 3 years and has agreed to extend the agreement for a period of 5 years from July 2022. At the end of this period, Entain has the option to extend the term for an additional 3 years.
While the pricing under the agreement is confidential and commercially sensitive, in consideration for the services to be provided by Racing and Sports, Entain will pay a monthly fixed fee in accordance with the agreement.
Either Party may terminate the agreement by providing 6 months notice in writing to the other party. Either party may terminate the agreement in the event that any material breach of the agreement by providing 30 days written notice to the other party.