🔒 🔒 NSW regulators investigating Apollo Tech collapse

NSW regulators are investigating concerns about the collapse of wagering technology provider Apollo Tech and its possible impact on the operations of a trio of online bookmakers, after the company entered liquidation earlier this month.

The Greyhound Welfare & Integrity Commission (GWIC) said it was working with Liquor & Gaming NSW on the investigation and would assist any bookmakers affected, but could not comment further.

The Straight has been told several high-profile gambling industry figures stand to lose large sums they invested.

Apollo Tech entered voluntary administration on September 7. An ASIC notice confirms it was wound up voluntarily on October 13, with Mathieu Tribut of Mackay Goodwin appointed liquidator.

Tribut’s October 5 report listed an Australian Taxation Office claim of $241,045.47 and trade creditor claims of $17,584, identifying Betmax Pty Ltd as the sole unrelated trade creditor. Betmax was also listed as owing money to Apollo Tech, and its creditor status remained under investigation.

The report also recorded a disclosed loan balance of $1,497,486 owing to former director Nicholas O’Connell, the spouse of director Karren Cad. Tribut said that the related-party claim remained under review as well.

The report also listed Apollo Tech shareholders, including companies linked to leading professional punters and wagering operators, as well as members of the professional poker community.

Apollo Tech’s platform is tied to brands operated by Winners Bookmaking Pty Ltd, a NSW-licensed bookmaker regulated by Liquor & Gaming NSW. That company runs three brands which remain operational: 123bet, PuntSport and BetPinnacle.

Apollo Tech is listed as seller of the PuntSport app on Apple’s App Store and as developer of the 123BET app on Google Play. 123bet describes itself as licensed by the Greyhound Welfare & Integrity Commission and as a member of the NSW Bookmakers’ Co-operative.

The Straight has been told four other Winners Bookmaking brands have recently closed on the Apollo Tech platform.

Investors in the company have told The Straight they want clarity on how the three operational brands are connected to Apollo Tech.

The Straight understands that questions have been put to the NSW Bookmakers’ Co-operative, the Greyhound Welfare & Integrity Commission and Liquor & Gaming NSW.

Liquor and Gaming NSW referred this publication’s questions to GWIC, which confirmed it was aware of the situation.

“The Commission is working with Liquor and Gaming NSW to investigate the concerns in relation to Apollo Technologies being placed into administration and its possible impact to other online bookmakers,” it said.

“The Commission will be assisting any bookmakers that may be impacted by this issue but, at this time, the Commission is not in a position to comment further on this investigation.”