Australia's Bluebet hits near 2-week high on upbeat quarterly results

Betr Entertainment

31/01/2024 01:30

** Shares of Bluebet Holdings  BBT.AX  rise as much as 4.1%
to A$0.255, their highest level since Jan. 19
    ** Online wagering services provider posts qtrly turnover of
A$168.7 mln ($111 mln), up 14.2% due to continued market share
gains in Australia and its ClutchBet platform gaining traction
in the U.S.
    ** Co expects to be cash flow neutral in H2 FY24 on the back
of marketing efficiencies and reduced capital expenditure 
    ** About 151,800 shares change hands, compared with the
30-day average trading volume of 115,125 shares 
    ** Stock up 25.6% YTD, as of last close 
    
($1 = 1.5198 Australian dollars)

 (Reporting by John Biju in Bengaluru)
 ((John.Biju@thomsonreuters.com;))