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Racing and Sports (RTH) CEO Stephen Crispe is pleased with the company's first report as a listed company, but says the challenge is to stay relevant with a new, younger demographic. To do so, he says the company needs to stick to its knitting, while also innovating to help its customers attract and retain audience. On that, he says Racing and Sports will move away from pure data to visualisations and will continue to enhance its content offering. The Canberra-based business is one of the leading providers of data, enhanced content, and SaaS solutions to the global racing and wagering industries. It operates across 30 countries and drives the offerings of Sportsbet, Tabcorp, Ladbrokes, bet365, Betfair and BlueBet among others.
The company began trading on the ASX in late November after completing a heavily oversubscribed raise of $29 million via an IPO of 19.3 million shares at $1.50 per share. Racing and Sports reported revenue of $4.28M in the six months to December 31, up 90% from the previous corresponding period. The company's annualised monthly recurring revenue of $8.9 million was 89% higher than the same time in 2020. Gross profit rose 93%.
Online article taken from Ausbiz, published on Monday, 21st February 2022.