Already a subscriber?Matthew Tripp and investors in Betr will emerge with control of ASX-listed BlueBet after the two wagering groups confirmed plans to merge.
Mr Tripp has run some of the biggest bookmakers in the country. The deal will be the first time that his business is listed on the ASX. Betr chief executive Andrew Menz will run the combined entity, while BlueBet chief executive Bill Richmond will become chief operating officer. Mr Sullivan said the deal would create competition for other online bookmakers, which include Sportsbet, Ladbrokes and ASX-listed Pointbet. “We are excited by the growth opportunities and synergies that will be unlocked through the proposed merger of our two businesses,” he said.
Mr Tripp launched Betr in October 2022 with an ambitious 100 to 1 promotion that generated thousands of users, but. The business faced a number of early challenges including the exit of one major shareholder, Tekkorp, weeks before its launch.