Betr has appointed two new directors onto its board, with experienced sports and media executive Alexi Baker among those to join.
Baker, who was chief customer and digital officer at the National Rugby League and managing director of commercial at Nine Entertainment, is also a director at Rugby Australia and Healthy Bones Australia.
She joins betr as a non-executive director, will be part of the audit and risk committee and will stand for election at the company's 2025 annual general meeting.
She fills the role left vacant by Tim Hughes, who resigned as a director on Tuesday.
“The board sincerely thanks Mr Hughes for his valuable contribution and service to the Company and wishes him well in his future endeavours,” a statement said.
Also joining the board as an executive director is betr’s chief executive officer Andrew Menz.
Menz has been the CEO of betr since its founding in 2022 and has worked extensively across the wagering industry.
The board is now comprised of chairman Matthew Tripp, non-executive directors Michael Sullivan, Nigel Payne and Ben Shaw as well as Baker and Menz.
“These changes will result in the board comprising an equal split of independent and non-independent directors,” betr said.
“Recommendation 2.4 of the ASX Corporate Governance Principles and Recommendations states that a majority of the board should be independent directors. Notwithstanding this, the board considers that the revised composition of the board is appropriate whilst having regard to the Company's stage of development, its strategic priorities, and the balance of skills, experience and knowledge that the incoming directors bring.”
Betr, whose share price sits at 26 cents, giving it a market cap of just over $300 million, has been on an acquisition spree in the past 18 months, first merging with BlueBet and then buying out TopSport.
It was involved in a bidding battle for PointsBet, which ended with it holding 27 per cent of the fellow bookmaker’s shares, less than half of MIXI, which now has control of online operator's board.
