- BlueBet’s (BBT) subsidiary, BlueBet Iowa LLC, signs an agreement with Dubuque Racing Association in Iowa
- Subject to regulatory approval and licensing, BlueBet will be able to operate a new online sportsbook in Iowa which will be offered through its mobile app
- The licence is for an initial five-year period and will automatically renew for a further five if BlueBet chooses to do so
- Iowa was chosen because it has legalised state-wide online mobile gaming, low capital expenditure requirements and a significant population
- BlueBet is up 4.86 per cent on the market with shares trading at $1.73 at 12:08 pm AEST
BlueBet’s (BBT) subsidiary, BlueBet Iowa LLC, has signed an agreement with Dubuque Racing Association in Iowa.
Subject to regulatory approval and licensing, BlueBet will be able to operate a new online sportsbook in Iowa which will be offered through its mobile app.
The licence is for an initial five-year period and will automatically renew for a further five if BlueBet chooses to do so.
Additionally, BlueBet will pay a portion of the revenue from operations to Dubuque Racing Association.
Iowa was chosen because it has legalised state-wide online mobile gaming, it has low capital expenditure requirements, acceptable regulatory requirements and a significant population.
CEO Bill Richmond has stated this marks a significant step into the company’s entry into the US market.
“This is a significant milestone in BlueBet’s entry into the USA market. We are taking a very considered, staged approach to market entry in the USA and we are tremendously excited to be announcing this agreement with the Dubuque Racing Association,” Mr Richmond said.
“We are initially launching a business-to-consumer business to demonstrate both the capability of our technology and our team, both of which have been honed by years of successful operation in Australia, ahead of moving to our Sportsbook-as-a-solution offering in the USA.”
BlueBet was up 4.86 per cent on the market with shares trading at $1.73 at 12:08 pm AEST.