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BlueBet Holdings Ltd.
(Sydney:BBT)
BlueBet Holdings Ltd. (BBT) vs. S&P 500 (SPY)
BlueBet Holdings Ltd. Business Overview & Revenue Model
BlueBet Holdings Ltd. Financial Statement Overview
| Breakdown | |||||
| TTM | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 | Jun 2020 |
|---|---|---|---|---|---|
| Income Statement | Total Revenue | ||||
| 97.83M | 64.11M | 49.02M | 54.63M | 32.35M | 16.81M | Gross Profit |
| 59.93M | 33.11M | 1.47M | 31.97M | 13.22M | 7.17M | EBIT |
| -9.72M | -14.17M | -18.96M | -6.30M | 7.88M | 5.33M | EBITDA |
| -42.72M | -42.41M | -18.28M | -5.48M | 4.74M | 5.04M | Net Income Common Stockholders |
| -37.05M | -46.92M | -18.83M | -6.07M | 2.98M | 4.49M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | ||||
| 8.57M | 24.49M | 22.70M | 47.27M | 56.10M | 4.74M | Total Assets |
| 42.95M | 37.51M | 55.09M | 58.21M | 59.49M | 5.23M | Total Debt |
| 781.00K | 580.00K | 1.01M | 1.28M | 1.09M | 276.00K | Net Debt |
| -7.79M | -23.91M | -21.68M | -45.98M | -55.01M | -4.47M | Total Liabilities |
| 23.13M | 34.08M | 26.24M | 12.85M | 10.88M | 5.38M | Stockholders Equity |
| 19.82M | 3.43M | 28.85M | 45.37M | 48.61M | -145.00K |
| Cash Flow | Free Cash Flow | ||||
| -16.78M | -16.68M | -23.89M | -7.60M | 7.75M | 5.80M | Operating Cash Flow |
| -16.73M | -13.35M | -14.22M | -967.00K | 8.41M | 5.90M | Investing Cash Flow |
| 4.15M | -3.33M | -10.50M | -6.63M | -663.00K | -99.00K | Financing Cash Flow |
| 37.45M | 18.26M | 0.00 | -1.24M | 43.61M | -1.62M |
BlueBet Holdings Ltd. Technical Analysis
BlueBet Holdings Ltd. Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $6.99B | 11.27 | 2.81% | 3.90% | 2.61% | -21.77% | |
55 Neutral | $363.24M | ― | -30.20% | 35.62% | ― | ― | |
52 Neutral | $106.82M | ― | -36.49% | ― | -14.46% | -28.07% | |
50 Neutral | AU$1.65B | ― | -42.74% | 1.93% | 0.73% | -11.04% | |
40 Underperform | AU$322.34M | ― | -99.47% | ― | 76.49% | -75.29% |
BlueBet Holdings Ltd. Corporate Events
PointsBet Holdings Ltd. has received a confidential acquisition proposal from Betr Entertainment Ltd., which includes a $130 million equity raise. The PointsBet Board is currently evaluating the proposal with the help of external advisers and has sought further clarifications from Betr. Meanwhile, the Board continues to recommend the existing scheme with MIXI Australia Pty Ltd., unless a superior proposal emerges.
Betr Entertainment Ltd, a company listed on the ASX, has become a substantial holder in PointsBet Holdings Limited, acquiring a 19.9% voting power through the purchase of 66,013,329 fully paid ordinary shares. This acquisition, executed through special crossings and share sale agreements, marks a significant stake in PointsBet, potentially impacting the company’s strategic direction and market dynamics.
betr Entertainment Limited has successfully completed an institutional component of its $130 million equity raising, garnering strong support from both existing and new investors. The funds raised will aid in the company’s growth strategy and its proposal to acquire PointsBet, reflecting confidence in betr’s approach to capitalize on the consolidation of the Australian wagering market.
BETR Entertainment Limited has announced a proposed issue of 167,282,642 fully paid ordinary securities, with the issue date set for May 8, 2025. This move is part of the company’s strategy to enhance its financial position and support its growth initiatives, potentially impacting its market standing and offering new opportunities for stakeholders.
Betr Entertainment Limited has announced a capital raising initiative, consisting of a fully underwritten pro rata accelerated non-renounceable entitlement offer and an institutional placement, aiming to raise approximately $130 million. This move is designed to strengthen the company’s financial position without materially affecting its control structure, as the entitlement offer is structured to prevent any significant change in shareholder control.
Betr Entertainment Limited has released its quarterly activities report for the period ending March 31, 2025. The report provides general information about the company’s activities and financial data, emphasizing that the information is not exhaustive and should not be solely relied upon for investment decisions. The report includes non-IFRS financial measures, which are not audited and may not be comparable to similar measures from other entities. The company cautions against placing undue reliance on past performance as an indicator of future results.
BlueBet Holdings Ltd. announced a capital raising initiative through a fully underwritten pro rata accelerated non-renounceable entitlement offer and an institutional placement, aiming to raise approximately $130 million. Additionally, BlueBet has made a non-binding indicative offer to acquire PointsBet Holdings Limited, although the PointsBet board has not yet agreed to support the proposal. The success of this acquisition is uncertain, as it requires approval from PointsBet’s board and shareholders, and is subject to various conditions.
Betr Entertainment Limited has proposed to acquire the remaining shares of PointsBet Holdings Limited that it does not already own, offering a total equity value of $360 million. The acquisition is expected to deliver significant synergies, valued at over $40 million annually, and enhance Betr’s market position as a major player in the Australian wagering industry. The proposal includes a $130 million equity raise and is backed by strong funding commitments, including a $120 million acquisition financing facility from National Australia Bank. Betr’s strategic move is anticipated to be highly accretive for its shareholders, providing immediate scale and growth opportunities.
Betr Entertainment Limited has acquired a 19.9% stake in Pointsbet Holdings Limited, amounting to 66,013,329 shares. This strategic acquisition positions betr to potentially enhance its influence in the Australian wagering market, with further details to be announced regarding a proposed capital raising.
betr Entertainment Limited announced it will release its Q3 FY2025 Quarterly Update on April 29, 2025, followed by an investor conference call on the same day. This update is significant for stakeholders as it provides insights into the company’s financial performance and strategic positioning within the Australian wagering market.
Betr Entertainment Limited, a company listed on the Australian Securities Exchange, has requested a trading halt for its securities. This halt is pending an announcement related to the institutional component of an accelerated entitlement offer, part of a proposed capital raising effort. The trading halt is expected to remain in place until normal trading resumes on April 30, 2025. This move indicates a strategic financial maneuver aimed at strengthening the company’s capital position, potentially impacting its market operations and stakeholder interests.
BlueBet Holdings Limited has officially changed its name to betr Entertainment Limited, following approval from the Australian Securities and Investments Commission and an extraordinary general meeting. The company’s securities will continue to be listed under the ticker code BBT on the ASX, effective April 9, 2025. This change reflects the company’s strategic focus on the Australian wagering market and may strengthen its brand identity and market positioning.
BlueBet Holdings Ltd has issued 8,823,529 new fully paid ordinary shares to Merlehan Family Investments Pty Ltd as part of an asset acquisition of TopSport business assets. This strategic move is part of a broader placement plan announced earlier, potentially enhancing BlueBet’s market position and operational capabilities.
BlueBet Holdings Ltd has announced the quotation of 8,823,529 ordinary fully paid securities on the Australian Securities Exchange (ASX) as part of a previously announced transaction. This move is expected to enhance the company’s market presence and provide additional liquidity, potentially benefiting shareholders and strengthening its position in the competitive betting industry.
BlueBet Holdings Ltd has successfully completed the acquisition of TopSport’s assets, showcasing its repeatable M&A model by migrating TopSport customers to the betr platform swiftly and securely. This acquisition is expected to be significantly earnings accretive, bringing BlueBet closer to its market share goals and realizing approximately $9 million in cost synergies. The transaction structure allowed for a seamless integration, enhancing the wagering experience for customers and adding TopSport’s CEO to BlueBet’s management team. The company is now focusing on further growth opportunities, including a proposal to acquire PointsBet, which has been positively received by PointsBet shareholders.
BlueBet Holdings Ltd has announced its achievement of monthly EBITDA profitability ahead of schedule and its first-half profitability as a combined business. The company is set to complete the acquisition of TopSport, a complementary wagering business, which is expected to enhance the wagering experience for customers and strengthen the team. The company is also considering resolutions to align its corporate name with its customer brand, ratify shares for the TopSport acquisition, and maintain flexibility for further growth. The transition to a new platform has significantly improved customer satisfaction, and the company is optimistic about future growth opportunities.
BlueBet Holdings Ltd has announced an Extraordinary General Meeting scheduled for March 31, 2025, where shareholders will consider two key resolutions. The first resolution proposes changing the company’s name to ‘betr Entertainment Limited,’ reflecting a potential rebranding strategy. The second resolution seeks shareholder approval for the ratification of the prior issuance of 44,117,659 Placement Shares to sophisticated and professional investors, which could impact the company’s capital structure and investor base.
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.
BlueBet Holdings Ltd has announced it will release its H1 FY2025 Interim Results on February 27, 2025, followed by an investor conference call on the same day. This announcement signifies a critical moment for stakeholders to assess BlueBet’s financial performance and strategic direction post-merger with betr, potentially impacting its positioning in the competitive online wagering industry.
BlueBet Holdings Ltd announced the completion of an underwritten placement, issuing 44,117,659 new shares to institutional investors at $0.34 per share, as part of its growth strategy. This placement was conducted without the need for disclosure under specific sections of the Corporations Act, demonstrating compliance with relevant regulations and enhancing BlueBet’s financial positioning to support its expansion efforts.
BlueBet Holdings Ltd has announced a new quotation for 44,117,659 fully paid ordinary securities on the Australian Securities Exchange (ASX) under the code BBT. This move is part of previously announced transactions and reflects the company’s ongoing efforts to enhance its market presence and operational capabilities.
BlueBet Holdings Ltd has announced a proposed issue of securities, amounting to a maximum of 44,117,659 ordinary fully paid shares. This issuance is part of a placement or other type of issue, with the proposed issue date set for February 12, 2025. This move is likely aimed at raising capital, which could enhance BlueBet’s operational capabilities and strengthen its market position within the betting industry.
BlueBet Holdings Ltd. announced its acquisition of key assets from Merlehan Bookmaking Pty Ltd, trading as TopSport. This strategic acquisition is part of BlueBet’s equity raising initiative and is conditional on certain prerequisites being met. If successful, this move could significantly impact BlueBet’s market position and financial performance, although there are inherent risks and uncertainties that could affect the outcome and benefits of the transaction.
BlueBet Holdings Ltd has announced its strategic acquisition of TopSport, a move that is expected to significantly enhance earnings for shareholders and bring the company closer to its market share goals in Australia. The acquisition is part of BlueBet’s strategy to consolidate the Australian wagering market using its repeatable M&A model, improving profit margins and shareholder value. The acquisition will be funded by a $15 million equity raising, with the transaction expected to complete in April 2025, subject to regulatory approvals and successful equity raising.