BlueBet increases US presence with Caesars partnership
BlueBet has announced the signing of a 10-year market access agreement with Caesars Entertainment. The deal will see BlueBet operate a new online sportsbook in Indiana under its ClutchBet B2C brand, pending licensing and regulatory approval.
Indiana legalised online sports betting in October 2019; the state has generated $4.5bn in accepted wagers over the past 12 months.
This will be the fourth US state in which BlueBet goes live, after previously securing market access in Iowa, Colorado and Louisiana. While expansion into other states remains an objective, the company stated that “BlueBet’s focus and capital will now be directed to executing in each of the four initial states.”
BlueBet CEO Bill Richmond said: “BlueBet now has market access in four US states, which provides a strong platform to roll out our B2C brand, ClutchBet, and demonstrate the capability of our technology and team to run profitable sportsbooks in the US.
“The size of the opportunity in the US continues to grow with Americans having bet $125bn on sports in the four years since legalisation. With many more states still to come online, we could not be more convinced that our differentiated B2B offer is the best approach to access this opportunity in a disciplined and purposeful manner.”
Richmond went on to comment on BlueBet’s ‘Capital Lite’ plan, saying the company is now in a position where it can execute and complete the first stage of the market entry strategy.
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