BlueBet is no longer considering an official launch in the Hoosier State.
The Australian bookmaker and online gambling operator announced on Monday the termination of its market access agreement with Horseshoe Hammond in Indiana.
BlueBet made the decision to no longer consider Indiana as its latest sports betting market on June 30 following a strategic review of the company’s U.S. operations. The ongoing review led BlueBet to shift its focus toward its existing business-to-consumer markets in the U.S. The markets include Colorado, Louisiana, and Iowa.
BlueBet provides sports betting operations in those states under its ClutchBet subsidiary.
BlueBet maintains a Midwest presence
BlueBet’s decision to no longer launch an online sports betting product in Indiana also comes as the company grows its business-to-business operations. Earlier this year, BlueBet announced its first U.S. B2B sportsbook deal with Green Savoree Mid-Ohio to launch online operations in the Buckeye State pending regulatory licensing and approvals.
Green Savoree Mid-Ohio, a nationally sanctioned professional motorsports facility, is located in Lexington. The facility opened in 1962 and has a capacity of more than 75,000.
BlueBet and Green Savoree Mid-Ohio plan to launch “Mid-Ohio Sportsbook” using BlueBet’s propriety technology. The two entities have an initial five-year agreement.
As part of the deal, BlueBet receives a fee per annum based on the agreed and future determination of a range of sportsbook-as-a-solution features provided by BlueBet.
It will transition to a revenue share arrangement once revenue reaches a certain threshold.
Betr and BlueBet merge
BlueBet is continuing to bolster its business in Australia behind a binding sales agreement to acquire Betr to create a “leading Australian wagering operator. As part of the deal, BlueBet will issue roughly $265.4 million in fully paid shares to Betr shareholders.
The merger led to BlueBet’s strategic review resulting in its Indiana exit.
