Overview of BlueBet's Q3 FY24 cashflow statement update

BlueBet Holdings Limited (ASX: $BBT) has addressed the omission of current quarter figures in its Q3 FY24 Appendix 4C Quarterly Cashflow Statement, released on 24 April 2024. The updated statement includes the previously missing figures in section 5.1, with no further changes to the initially announced report.

Executive commentary on Q3 FY24 cashflow statement update

In April 2024, BlueBet announced a transformational acquisition of NTD Pty Ltd (betr) which will create a leading Australian online wagering company. This will deliver to BlueBet increased scale, market share, significant operational synergies and a platform for further organic and inorganic growth. Completion is subject to a number of conditions precedent which were outlined in the Company's ASX announcement on 11 April 2024. Post the transition of betr onto BlueBet technology in H1-25, the company expects to be EBITDA positive in FY25.

Summary of BlueBet's Q3 FY24 cashflow statement update

BlueBet Holdings Limited (ASX: $BBT) has rectified the omission of current quarter figures in its Q3 FY24 Appendix 4C Quarterly Cashflow Statement. The company also announced a significant acquisition of NTD Pty Ltd (betr), aiming to enhance its scale, market share, operational synergies, and facilitate further growth opportunities. Additionally, BlueBet successfully completed a fully underwritten two-tranche conditional placement to raise gross proceeds of approximately $20.0 million, supporting its operational and strategic growth initiatives. The company anticipates the acquisition and additional funding to contribute to its ability to continue operations profitably and meet its business objectives.