RAS Technology (ASX:RTH) signs 5-year deal with Entain for $5m

Sports betting company Entain Group has awarded RAS Technology Holdings (ASX:RTH) a five year extension on their deal to provide racing content valued at $5 million in Australia.

RAS operates across 30 countries with its data driving the offerings of Sportsbet, Tabcorp, Bet365, Betfair, BlueBet and the Entain-owned Ladbrokes, among others.

The deal with London-listed Entain is worth $5 million over five years and will see RAS provide Entain with new thoroughbred content from major racing jurisdictions along with international greyhounds enhanced by RAS Tech’s analytic data and live feeds. RAS’ annualised monthly recurring revenue as at March 31 this year was $9 million.

In Entain’s Australian portfolio are big names such as Ladbrokes, Neds, Betstar and Bookmaker. Consumers under these brands will access new content from major racing jurisdictions along with international greyhounds, enhanced by Racing and Sports’ analytic data and live feeds.

Entain will also have access to RAS Tech’s global Ratings framework as part of the deal, allowing Entain’s trading team to develop mathematical modelling and pricing feeds across multiple jurisdictions.

Stephen Crispe, chief executive officer 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 $9 million as at March 31, 2022 this upsized agreement with Entain provides an excellent platform for the Racing and Sports’ continued growth.”

Shares closed at 50 cents yesterday.