BlueBet Holdings Ltd → Wagering Business of Betr (from NTD Pty Limited)
completedBlueBet Holdings agreed to acquire the wagering business of Betr from NTD Pty Limited for A$80 million, paid via approximately 265.4 million new BlueBet shares (56.9% of the combined company). Shareholders approved 30 May 2024; the merger completed 1 July 2024, and the combined company was subsequently renamed betr Entertainment Limited.
BlueBet wanted scale in the competitive Australian online wagering market by combining with Betr's wagering operations.
NTD Pty Limited (Betr's parent) received a majority stake in the enlarged, ASX-listed combined entity rather than cash, giving it ongoing upside.
Framed by commentators as a transformative merger that materially changed BlueBet's shareholder base and scale.
Deal mechanics
All-scrip, ~265.4 million new BlueBet shares issued to Betr/NTD shareholders