Why BetMakers, Emerge Gaming, Infratil, & Tyro shares are pushing higher

BetMakers Technology Group Ltd (ASX:BET) and Emerge Gaming Ltd (ASX:EM1) shares are two of four pushing higher on Monday…

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In afternoon trade the S&P/ASX 200 Index (ASX: XJO) is on track to start 2021 very positively. At the time of writing, the benchmark index is up a sizeable 1% to 6,653 points.

Four shares that are climbing more than most today are listed below. Here’s why they are pushing higher:

BetMakers Technology Group Ltd (ASX: BET)

The BetMakers share price is up 3% to 69 cents. This morning the betting technology company revealed that its placement has completed successfully. BetMakers has raised $50 million (before costs) at $0.60 per new share from sophisticated and institutional investors. These funds are being used to acquire the racing and digital assets of UK-based sport betting company Sportech.

Emerge Gaming Ltd (ASX: EM1)

The Emerge Gaming share price has rocketed 18% higher to 9.3 cents. Investors have been buying the esports and gaming technology company’s shares following the release of an update on its MIGGSTER social gaming platform. According to the release, Emerge Gaming has banked its first cash receipts from the social gaming platform to the value of A$8.3 million. This covers the period 14 November to 31 December.

Infratil Ltd (ASX: IFT)

The Infratil share price is up 5% to $7.24 following an update on its data centres. According to the release, the investment company has experienced a significant increase in the value of its stake in CDC Data Centres. Infratil’s 48.1% investment in CDC is now valued at between A$2,039 million to A$2,334 million. This is up from A$1,597 million to A$1,807 million at 30 September 2020.

Tyro Payments Ltd (ASX: TYR)

The Tyro share price has climbed almost 5% to $3.34 following the release of its latest weekly update. According to the release, Tyro recorded transaction value of $2.626 billion during December. This is an increase of 19% on the same period a year earlier.

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James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of Betmakers Technology Group Ltd and Tyro Payments. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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