Edison Investment Research - BLUEBET HLDGS LTD (BBT) BlueBet Holdings - Robust core and executing in the US

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Edison Investment Research

Kate Heseltine

BlueBet Holdings - Robust core and executing in the US

BlueBet’s (BBT’s) Q223 results highlighted a robust performance in its primary geography, Australia, against a more competitive backdrop. Good progress was made in the US, with ClutchBet (BBT’s brand) in Iowa performing well after its August 2022 launch. BBT has been awarded a temporary operating licence in Colorado, which is expected to go live in mid-March. Management is exploring partnerships for its B2B Sportsbook-as-a-Solution business as it enters the second phase of its US growth strategy. Management expects net operating cash outflows to normalise in H223.

27/01/2023 1 EN

Underlying

BLUEBET HLDGS LTD

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AU0000157075 Australian Securities Exchange Australia

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Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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Analysts

Kate Heseltine

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BlueBet Holdings - Robust core and executing in the US

BlueBet - Dual-track growth strategy

Sylvania Platinum - Annual guidance maintained, despite strike

1Spatial - Investing in the transformational SaaS opportunity

Datatec - FY24 underlying EPS more than doubles y-o-y

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