{"id":324147,"date":"2024-07-01T18:28:55","date_gmt":"2024-07-01T23:28:55","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=324147"},"modified":"2024-07-02T09:06:59","modified_gmt":"2024-07-02T14:06:59","slug":"bluebet-departing-indiana-us-strategic-review-ongoing","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/bluebet-departing-indiana-us-strategic-review-ongoing\/","title":{"rendered":"BlueBet Departing Indiana, US Strategic Review Ongoing"},"content":{"rendered":"

Australian sportsbook operator BlueBet announced on Monday that it’s withdrawing from Indiana to focus its attention on other states. The gaming company also reminded investors that a strategic review of its US operations is ongoing.<\/p>\n

\"BlueBet\"
An image from a BlueBet commercial. The company is leaving the Indiana sports betting market and continuing a strategic review of its US operations. (Image: YouTube)<\/figcaption><\/figure>\n

BlueBet gained access to the Indiana sports betting market via an agreement with Horseshoe Hammond, a casino operated by Caesars Entertainment. The Aussie company terminated that pact effective June 30, but noted that termination was mutual.<\/p>\n

\n

BlueBet, which was founded in 2015 and went public<\/a> in Sydney in 2021, said it will focus on its sports wagering operations in Colorado, Iowa, and Louisiana, as well as \u201ccontinuing to roll out its business-to-business (B2B) Sportsbook-as-a-Solution (SaaS) offer.\u201d<\/p>\n<\/div>\n

In Colorado, Iowa, and Louisiana, BlueBet has exposure to some of the fastest-growing sports betting states in the US without the expenses required to operate in major markets, such as New York or Pennsylvania.<\/p>\n

BlueBet Still Sees Opportunity in US<\/h2>\n

As more states authorize mobile sports betting, market share has increasingly consolidated around just two operators, FanDuel and DraftKings<\/a>.<\/p>\n

That\u2019s made it difficult for smaller players such as BlueBet to gain adequate market share, and that could be one reason why the operator commenced the strategic review. In the statement announcing the Indiana departure, the gaming company didn\u2019t provide details on the strategic review except to say it is ongoing.<\/p>\n

BlueBet remains committed to maximising value for shareholders. The Company believes focusing its efforts and capital on its outperforming Australian business, while continuing to scale in the US with its \u2018Capital Lite\u2019 market entry strategy, will deliver the best returns on capital,\u201d according to the statement.<\/p><\/blockquote>\n

Signaling it remains committed to the US market, BlueBet said it inked a B2B deal in Ohio in March. The operator believes such agreements can reduce its sportsbook operating expenses in this country.<\/p>\n

BlueBet Not the First Aussie Operator to Find US Difficult<\/h2>\n

BlueBet isn\u2019t the first Australian bookmaker that\u2019s found it difficult to replicate the success found in its home country in the US. For example, PointsBet sold PointsBet US to Fanatics last year<\/a> for $225 million after that unit struggled to gain noticeable market share in this country and had become a drag on the parent company\u2019s financials.<\/p>\n

\n

Both BlueBet and PointsBet have solid sports wagering operations in Australia, which is one of the most mature sports wagering markets in the world. It\u2019s a jurisdiction in which gaming industry consolidation rumors are persistent, but there, BlueBet might be a buyer, not a target.<\/p>\n<\/div>\n

Here in the US, BlueBet\u2019s strategic review could be a sign the parent is willing to sell, but rumors regarding potential buyers haven\u2019t surfaced.<\/p>\n","protected":false},"excerpt":{"rendered":"

Australian sportsbook operator BlueBet announced on Monday that it’s withdrawing from Indiana to focus its attention on other states. The gaming company also reminded investors that a strategic review of its US operations is ongoing. BlueBet gained access to the Indiana sports betting market via an agreement with Horseshoe Hammond, a casino operated by Caesars […]<\/p>\n","protected":false},"author":46,"featured_media":324148,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[69069,10,32093,86430,86438,1,1074],"tags":[81913,81903,81966,86455,86457,81967,80968],"acf":[],"yoast_head":"\nBlueBet Departing Indiana, US Strategic Review Ongoing<\/title>\n<meta name=\"description\" content=\"BlueBet Departing Indiana, US Strategic Review Ongoing.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/bluebet-departing-indiana-us-strategic-review-ongoing\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BlueBet Departing Indiana, US Strategic Review Ongoing\" \/>\n<meta property=\"og:description\" content=\"BlueBet Departing Indiana, US Strategic Review Ongoing.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/bluebet-departing-indiana-us-strategic-review-ongoing\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2024-07-01T23:28:55+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-07-02T14:06:59+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2024\/07\/BBA.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/bluebet-departing-indiana-us-strategic-review-ongoing\/\",\"url\":\"https:\/\/www.casino.org\/news\/bluebet-departing-indiana-us-strategic-review-ongoing\/\",\"name\":\"BlueBet Departing Indiana, US Strategic Review Ongoing\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/bluebet-departing-indiana-us-strategic-review-ongoing\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/bluebet-departing-indiana-us-strategic-review-ongoing\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2024\/07\/BBA.jpg\",\"datePublished\":\"2024-07-01T23:28:55+00:00\",\"dateModified\":\"2024-07-02T14:06:59+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"BlueBet Departing Indiana, US Strategic Review Ongoing.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/bluebet-departing-indiana-us-strategic-review-ongoing\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/bluebet-departing-indiana-us-strategic-review-ongoing\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/bluebet-departing-indiana-us-strategic-review-ongoing\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2024\/07\/BBA.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2024\/07\/BBA.jpg\",\"width\":1280,\"height\":720,\"caption\":\"An image from a BlueBet commercial. 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