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.

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