BlueBet Pulls Plug on Indiana Operations
Australian bookmaker and online gambling operator BlueBet has scrapped its plans to launch in Indiana.
BlueBet will now focus on its core US B2C markets in Colorado, Louisiana, and Iowa. (Source: Sean Pavone, Getty Images)
LISTEN TO THIS ARTICLE:The company made the announcement on Monday, July 1, revealing that it has terminated its partnership with Horseshoe Hammond in the Hoosier State. It arrived at the decision after conducting a strategic review of its US operations.
BlueBet first announced its market access agreement with Caesars' Horseshoe Casino in March 2024. Clearing all regulatory hurdles, the partnership was supposed to last ten years and aid BlueBet in launching its ClutchBet brand in Indiana.
With the latest development, BlueBet will focus on its core US business-to-consumer markets in Colorado, Louisiana, and Iowa, where it currently operates its online sportsbook brand, ClutchBet.
BlueBet's recent strategic review was prompted by its binding agreement to acquire Betr. The operator has agreed to buy Betr for approximately $265.4 million in shares to establish itself as a leading Australian wagering operator.
BlueBet Revs up B2B Efforts
Besides focusing on its existing B2C operations, BlueBet's recent moves suggest that the company is also looking to grow its B2B business.
At the start of the year, BlueBet signed its premier B2B sportsbook deal with Green Savoree Mid-Ohio, a motorsports facility in Lexington, Ohio. The firms aim to launch online sports betting operations in Ohio through the partnership.
The joint sportsbook will be named "Mid-Ohio Sportsbook" and be built on BlueBet's propriety technology. As part of the 5-year agreement, BlueBet will receive an annual fee based on the delivery of its sportsbook-as-a-solution features.
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BlueBet Hit with $50k Penalty
The year, however, had not been entirely smooth for BlueBet. In April, the operator was fined AU$50,000 by the VGCCC, Victoria Gambling and Casino Control Commission, for failing to follow the state's rules regarding gambling advertising.
The operator was found guilty of 43 counts of displaying gambling adverts on or above a public road, which is prohibited by Victoria's Gambling Regulation Act 2003.
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