{"id":265,"date":"2024-06-27T18:28:06","date_gmt":"2024-06-27T15:28:06","guid":{"rendered":"https:\/\/slotsgardennodepositbonus.icu\/2024\/06\/27\/betmakers-defends-15-million-payment-to-matthew-tripp\/"},"modified":"2024-06-27T18:28:06","modified_gmt":"2024-06-27T15:28:06","slug":"betmakers-defends-15-million-payment-to-matthew-tripp","status":"publish","type":"post","link":"https:\/\/slotsgardennodepositbonus.icu\/2024\/06\/27\/betmakers-defends-15-million-payment-to-matthew-tripp\/","title":{"rendered":"BetMakers Defends $15 Million Payment to Matthew Tripp"},"content":{"rendered":"<p><iframe loading=\"lazy\" width=\"800\" height=\"450\"\n    src=\"https:\/\/www.youtube.com\/embed\/pb-8BbvELfA\"\n    frameborder=\"0\"\n    allow=\"accelerometer; encrypted-media; gyroscope; picture-in-picture\"\n    allowfullscreen><br \/>\n<\/iframe><\/p>\n<p>An Australian wagering firm, BetMakers, has defended a $15 million payment to Matthew Tripp, a seasoned industry leader. The Australian Securities Exchange (ASX) raised concerns about whether the agreement violated listing regulations.<\/p>\n<p>Tripp was recruited in 2021 to provide guidance to BetMakers on their B2B betting strategy and to acquire $25 million worth of company stock. Earlier this year, BetMakers declared a betting venture with News Corp and Tekkorp, which later became known as Betr. <\/p>\n<p>BetMakers disclosed that they extended a three-year escrow arrangement for 35 million shares and that Tripp would receive a $15 million cash payment. <\/p>\n<p>At BetMakers&#8217; annual general meeting, the ASX voiced concerns about the $15 million payment. CEO Todd Buckingham clarified that the payment was partially attributed to Tripp&#8217;s personal assistance to him. <\/p>\n<p>The ASX&#8217;s guidelines indicate that if there are &#8220;significant changes&#8221; to previously agreed-upon transaction terms, the ASX may require the company to seek fresh approval from its shareholders. <\/p>\n<p>The Australian Securities Market (ASM) has stringent regulations concerning the disclosure of data that could influence a firm&#8217;s stock value. They stipulate that if an event could have a substantial impact on the price, the company must inform the ASM immediately.<\/p>\n<p>BetMakers, a business that incurred a loss of $17 million in the fiscal year 2020-21, stated that a payment of $15 million would be deemed significant.  <\/p>\n<p>The ASM inquired about a payment made to Matthew Tripp and questioned BetMakers if they considered it material. BetMakers responded in the negative, asserting that it was a business expenditure and should be distributed over a decade, resulting in an annual cost of only $1.5 million. <\/p>\n<p>The firm also highlighted that its earnings could rise considerably in the next decade due to the Betr accord (Tripp&#8217;s remuneration was publicized as part of the accord).<\/p>\n<p>BetMakers investors endorsed the accord and inquired if it was permissible to modify the accord to allow for a cash disbursement.<\/p>\n<p>BetMakers stated that the alteration &#8220;would not change or decrease&#8221; the initial arrangement, as Tripp would still receive the originally agreed upon performance rights after the extended escrow period.<\/p>\n<p>BetMakers stated: &#8220;The modifications to the escrow accord, notably Tripp&#8217;s remuneration, did not provide Tripp with extra remuneration in exchange for services under the consulting accord, nor did it try to compensate Tripp for pursuing strategic transactions.&#8221; &#8220;Instead, the transactions made under the amended escrow accord were to motivate Tripp to secure the Betr accord for the firm.&#8221;<\/p>\n<p>BetMakers also refuted claims that it had received a $15 million payment due to the new escrow arrangement with shares. Instead, the company said it &#8220;has always placed Tripp&#8217;s remuneration in the context of the Betr accord.&#8221;<\/p>\n<p>Buckingham&#8217;s statement at the BetMakers AGM<br \/>\nBetMakers also said that the description of Buckingham&#8217;s ASX comments &#8220;inaccurately reflects Todd Buckingham&#8217;s statements at the annual general meeting and misinterprets the business rationale behind Tripp&#8217;s compensation.&#8221; <\/p>\n<p>Mr. Buckingham&#8217;s remarks regarding Matt Tripp&#8217;s assistance were provided in answer to a separate inquiry about their continuous association, not concerning the compensation given to Tripp. He aimed to demonstrate the strength of their bond and that Tripp consistently acts in the company&#8217;s best interests.<\/p>\n<p>They reiterated that the Betr agreement is the justification for the payment.<\/p>\n<p>Lastly, BetMakers stated that Tripp will not receive any further financial compensation for his guidance. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>An Australian wagering firm, BetMakers, has defended a $15 million payment to Matthew Tripp, a seasoned industry leader. The Australian Securities Exchange (ASX) raised concerns about whether the agreement violated&hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.8 (Yoast SEO v22.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>BetMakers Defends $15 Million Payment to Industry Leader<\/title>\n<meta name=\"description\" content=\"BetMakers defends a $15 million payment to Matthew Tripp, a seasoned industry leader, amidst ASX concerns about potential listing rule violations.\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/slotsgardennodepositbonus.icu\/2024\/06\/27\/betmakers-defends-15-million-payment-to-matthew-tripp\/\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:type\" content=\"article\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:title\" content=\"BetMakers Defends $15 Million Payment to Matthew Tripp\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:description\" content=\"BetMakers defends a $15 million payment to Matthew Tripp, a seasoned industry leader, amidst ASX concerns about potential listing rule violations.\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:url\" content=\"https:\/\/slotsgardennodepositbonus.icu\/2024\/06\/27\/betmakers-defends-15-million-payment-to-matthew-tripp\/\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:site_name\" content=\"Discover a New Level of Casino Entertainment | Licensed Games\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"article:published_time\" content=\"2024-06-27T15:28:06+00:00\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"author\" content=\"admin\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" class=\"yoast-seo-meta-tag\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/slotsgardennodepositbonus.icu\/2024\/06\/27\/betmakers-defends-15-million-payment-to-matthew-tripp\/\",\"url\":\"https:\/\/slotsgardennodepositbonus.icu\/2024\/06\/27\/betmakers-defends-15-million-payment-to-matthew-tripp\/\",\"name\":\"BetMakers Defends $15 Million Payment to Industry Leader\",\"isPartOf\":{\"@id\":\"https:\/\/slotsgardennodepositbonus.icu\/#website\"},\"datePublished\":\"2024-06-27T15:28:06+00:00\",\"dateModified\":\"2024-06-27T15:28:06+00:00\",\"author\":{\"@id\":\"https:\/\/slotsgardennodepositbonus.icu\/#\/schema\/person\/7fe3f8540cfe191b1464d5c1c2f0a7f0\"},\"description\":\"BetMakers defends a $15 million payment to Matthew Tripp, a seasoned industry leader, amidst ASX concerns about potential listing rule violations.\",\"breadcrumb\":{\"@id\":\"https:\/\/slotsgardennodepositbonus.icu\/2024\/06\/27\/betmakers-defends-15-million-payment-to-matthew-tripp\/#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/slotsgardennodepositbonus.icu\/2024\/06\/27\/betmakers-defends-15-million-payment-to-matthew-tripp\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/slotsgardennodepositbonus.icu\/2024\/06\/27\/betmakers-defends-15-million-payment-to-matthew-tripp\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Homepage\",\"item\":\"https:\/\/slotsgardennodepositbonus.icu\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"BetMakers Defends $15 Million Payment to Matthew Tripp\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/slotsgardennodepositbonus.icu\/#website\",\"url\":\"https:\/\/slotsgardennodepositbonus.icu\/\",\"name\":\"Discover a New Level of Casino Entertainment | Licensed Games\",\"description\":\"Discover the latest trends and opportunities in online gambling with our fresh casino news, honest game reviews, and expert articles. 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