Australia's Bluebet jumps on confirming merger discussions with BetR

Betr Entertainment

05/01/2024 02:54

** Shares of Bluebet Holdings  BBT.AX  rise as much as 28.2%
to A$0.250, their biggest intraday gain since June 28, 2022
    ** Australian bookmaker responds to recent media rumours of
a potential merger with gambling startup BetR
    ** Co reveals discussions are happening with rival BetR,
among others, for strategic initiatives
    ** Adds, discussions don't guarantee any mergers or
transactions 
    ** Stock marks its highest level since Aug. 21, 2023
    ** 738,501 shares change hands, compared with the 30-day
average volume of 46,557
    ** Stock closed more than 46% lower in 2023, their second
consecutive year of losses

    

 (Reporting by Rajasik Mukherjee in Bengaluru)
 ((Rajasik.Mukherjee@thomsonreuters.com))