tiprankstipranks
Company Announcements

BlueBet Proposes Acquisition of PointsBet for Strategic Expansion

Story Highlights
BlueBet Proposes Acquisition of PointsBet for Strategic Expansion

BlueBet Holdings Ltd. ( (AU:BBT) ) has provided an announcement.

BlueBet Holdings Ltd has made a non-binding offer to acquire PointsBet Holdings Limited, valuing the company at $340-$360 million. The acquisition is expected to unlock $40 million in annual synergies, providing strategic and financial benefits to PointsBet shareholders. The proposal includes a cash pool of $240-$260 million and scrip consideration of $100-$120 million, aiming to accelerate BlueBet’s growth and access key technology and marketing assets.

More about BlueBet Holdings Ltd.

BlueBet Holdings Ltd, listed on the Australian Securities Exchange, is an online wagering provider operating in Australia. The company utilizes a scalable proprietary cloud-based technology platform, which is also available as a white-label solution for B2B partners. BlueBet has developed its websites and apps with a mobile-first strategy, offering a premium user experience. In July 2024, BlueBet merged with betr, enhancing its position in the Australian online wagering market.

YTD Price Performance: 15.00%

Average Trading Volume: 342,645

Technical Sentiment Consensus Rating: Sell

Current Market Cap: A$210.6M

Learn more about BBT stock on TipRanks’ Stock Analysis page.

Questions or Comments about the article? Write to editor@tipranks.com

Questions or Comments about the article? Write to editor@tipranks.com
Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App