3 minute read
- Racing and Sports provides data about 1.5 million horses racing in 30 countries to industry players including Tabcorp, Ladbrokes, bet365, Betfair and BlueBet
- It's looking to expand deeper into the US, UK and Europe, and in order to have greater access to growth capital, it's scheduled to list on the ASX on November 23
- It'll list under the name RAS Technology Holdings with the ticker code RTH
- The company has raised $29M through the IPO process with shares issued at $1.50
- The company was founded in 199 by racing industry veterans Gary Crispe and Robert Vilkaitis
RAS Technology Holdings, better known in the racing industry as Racing and Sports, provides data for about 1.5 million horses racing in 30 countries to industry players including Tabcorp, Ladbrokes, bet365, Betfair and BlueBet.
It's looking to expand deeper in the US, UK and Europe and in order to have greater access to capital for growth. It's scheduled to list on the ASX on November 23.
RAS is headquartered in Canberra and offers data, content and SaaS solutions to the racing and wagering industries.
It'll list under the name RAS Technology Holdings with the ticker code RTH.
The company has raised $29M through the IPO process, with 19.3 million shares issued at $1.50.
The money will be used for product development and expansion, but $15M will be used to pay out selling shareholders.
The company was founded in 1999 by racing industry veterans Gary Crispe and Robert Vilkaitis.
Gary Crispe's son Stephen Crispe is CEO, he said the time was right for the company to join the ASX.
"Racing and Sports is the leader in technology, the leader in racing information and it seemed like this is the logical time with the real drive, probably fuelled by Covid to some degree, to actually take the business to that next level, go after the international market in eager and build the teams over there in Europe as well as the US," he said.
Online article taken from The Market Herald, published on Tuesday, 9th November 2021, Author, Sonia Madigan.
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