Australian (ASX) Stock Market Forum

BBT - BlueBet Holdings

Jump to new
System

System

Joined
27 June 2010
Posts
4,147
Reactions
309
BlueBet is a profitable, debt-free, Australian wagering operator, which has been self funded since its establishment in 2015, and has a track record of strong growth.

BlueBet was founded by Michael Sullivan as a mobile-first, online bookmaker with the vision to provide more innovative wagering products to customers of Australian and international racing and sports. BlueBet has since grown into a profitable Australian online wagering operator experiencing significant growth in:
  • Bet Count: 5.1 million bets in CY20 (+107.5% on CY19);
  • Turnover: $266.3 million in Turnover in CY20 (+63% on CY19);
  • Active Customers: More than 25,000 Active Customers as at 31 December 2020 (+31% on 31 December 2019);
  • Net Win: $28.5 million (+137.8% on CY19).
BlueBet's growth has been driven by targeted, cost-effective marketing campaigns, along with continued innovation of its products and enhancements to the wagering platform.

The growth in the Company’s business is reflected in its financial performance, which has continued to strengthen. In FY20, BlueBet’s Turnover and Net Revenue increased 11.4% and 75.5%, respectively. This growth has continued into 1H FY21, which saw Turnover and Net Revenue grow 90.5% and 144.4% on 1H FY20, respectively. With the benefit of the funds raised at initial public offering (IPO), BlueBet forecast CY21 Turnover and Net Revenue to increase a further 46.5% and 39.6% on CY20, respectively.

It is anticipated that BBT will list on the ASX during July 2021.

 
Listing date02 July 2021 11:00AM AEST ##
Contact detailshttps://www.bluebet.com.au/
Ph: 02 9571 0033
Principal ActivitiesOnline wagering
GICS industry groupTBA
Issue Price$1.14
Issue TypeOrdinary Fully Paid Shares
Security codeBBT
Capital to be Raised$80,000,000
Expected offer close date23 June 2021
UnderwriterThis offer is fully underwritten. Ord Minnett Limited and Morgans Corporate Limited (Underwriters and Joint Lead Managers)
 
trading ... or could we say, Racing !! ... opened at $2.00 and now $1.78
 
Now 33 cents and continues to lose money...

Like the other betting companies out there, it's the advertising which seems to absolutely kill them. And in the case of bluebet it does not appear that the advertising has generated additional sales?

There are too many options for betting out there and only a few will survive.

1677740188527.png
 
The Triangle said:
Now 33 cents and continues to lose money.
Click to expand...
recent jump from 20c to 26c.

Investors have been buying the sports betting company's shares amid rumours of a potential merger with one of its rivals.

According to the AFR, BlueBet and BetR are in talks about a potential merger of their betting operations in an attempt to build scale ahead of likely regulatory headwinds.

Sources told them that Matthew Tripp's BetR was wanting to launch a takeover of BlueBet, but the Michael Sullivan-led BlueBet business prefers a merger.

Though, it remains unknown whether a merger would take BlueBet private or lead to BetR joining the ASX boards.

In a response to speculation, BBT revealed it was in discussion with Bete and other parties. However, it has warned that there's no guarantee that anything will materialise from these talks. Its response states:

BlueBet is regularly involved in discussions with third parties regarding strategic initiatives, including Betr, aimed at maximising value for its shareholders. While discussions may occur, there can be no certainty that any transaction will eventuate. BlueBet will continue to update the market in accordance with its continuous disclosure obligations..
Click to expand...

The Triangle said:
There are too many options for betting out there and only a few will survive.
Click to expand...
too true, ... like the BNPL circus
 
My pick for the March comp.

Footy season is almost upon us. Maybe this will spark the price of betting companies.
 
Top