Australian gaming company BlueBet has posted record Q3 quarterly turnover of AU$151.6m, driven by sports betting, thoroughbred and greyhound racing.
The group achieved its first-ever cash flow-positive quarter and said it is on track to be cash flow neutral across the second half of the financial year.
Gross win rose 23.4 per cent to $19.5m, while net win climbed by 36.7 per cent to $16.4m.
BlueBet’s active customers in Q3 jumped 13.7 per cent to 73,089, and the company recorded a net win margin of 10.8 per cent.
Its Australian business showed turnover of $139.6m in Q3, up 17.2 per cent from $119.1m in Q3 last year. Gross win for the segment was up 18.4 per cent to $18.7m.
For the year to date, BlueBet’s Australian business’ net win is up 18.9 per cent on this time last year to $46.6m, up from $39.2m.
Greyhound racing generated turnover of $33m in Australia for BlueBet in the latest quarter, up 22.2 per cent. Thoroughbred racing followed suit with a 6.4 per per cent rise in turnover to $65.2m.
However, sports was the segment with the highest turnover growth – 48 per cent – climbing to $32.3m.
BlueBet recently announced the acquisition of betr’s wagering business and the deal is currently on track for completion by July 1.
