LVDC accepts proposed acquisition by BetMakers
The Las Vegas Dissemination Company is the only licensed horse and greyhound racing supplier in Las Vegas.
Key points:
– BetMakers has bid accepted by Las Vegas Dissemination Company
– LVDC is the only licence pari-mutuel wagering supplier for horse and greyhound racing in Las Vegas
BetMakers has announced its intentions to acquire the Las Vegas Dissemination Company (LVDC) – Las Vegas’ only licensed horse and greyhound racing supplier – with the latter having officially accepted an unspecified bid.
Indeed, the price of the potential takeover has not been specified. However, according to BetMakers, the proposed acquisition of 100% of the supplier’s assets is expected to generate around $4m in annual revenue for the company – and has been accepted by the LVDC.
Importantly, the LVDC is currently the only holder of three key licences – disseminator, live broadcast disseminator and pari-mutuel systems operator – in Nevada, which allows its monopoly over horse and greyhound pari-mutuel wagering in Las Vegas.
Currently, the supplier services numerous sportsbooks, online platforms, racebooks and additional venues across the state of Nevada – which will then fall into the responsibility of BetMakers, should the deal pass the necessary regulatory and related requirements.
Speaking on this latest announcement, BetMakers CEO Jake Henson said: “We are excited to announce the potential acquisition of LVDC. A strategic step that strengthens our position within the North American market and expands connectivity with world-class global wagering operators through the BetMakers network.
This acquisition would not only give us access to the dynamic Nevada gaming market but also create a strong platform to showcase innovation in horse racing technology and retail wagering experiences. We are pleased to welcome the LVDC team into the broader BetMakers and Global Tote group as we move into the next phase of growth and execution.”
Good to know: In March, BetMakers announced the extension of its partnership with UK Tote Group until 2029
More recently, in April, the group partnered with Hollywoodbets to deliver fixed-odds racing product technology and data services across 335,000 annual races.
In additional M&A news, Mixi raised its proposed purchase price for PointsBet today in the hopes of increasing the chances of shareholder approval.
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