Australian bookmaker BlueBet Holdings Limited has announced that it will leave the US market to focus on operations in Australia.
BlueBet Closing ClutchBet Ahead of US Market ExitThe decision to exit the US market follows the company’s merger with Betr earlier this year. At the time the company announced that it would halt its planned expansion in US states while it undertook a strategic review of its operations.
BlueBet Closing ClutchBet Ahead of US Market Exit, BlueBet stated that slower than anticipated regulatory approvals have hampered its plans for US expansion in the B2B sports betting software sector. It also noted that the dominance of larger brands in the US made it difficult for smaller sports betting operators to remain in the market. BlueBet Closing ClutchBet Ahead of US Market ExitBlueBet Closing ClutchBet Ahead of US Market Exit BlueBet Closing ClutchBet Ahead of US Market ExitBlueBet’s conservative “Capital-Lite” market entry strategy limited its investment in the US market. Excluding one-off costs, this will offer the Company the flexibility to redeploy the $6 million to $8 million per annum in cost savings realised from the US exit to fuel growth in its core Australian operations.
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