BlueBet reports strong second-quarter results as turnover jumps to $147.7m
Australian sports book provider BlueBet Holdings has released its Quarterly Cash Flow and Activities Report for the quarter that ended 31 December 2022, announcing a rise of 6.6% in turnover to a total of $147.7 million.
Strong top-line growth in Australia, with Turnover up 48.5% to $511.9 million and Net Win up 53.5% to $54.6 million driven by increased marketing investment, while remaining operating cash flow positive. Active Customers increased by 64.2% to 53,328 as a result of accelerated marketing & advertising and Bet Count increased 64.7% to 10.6 million.
Net Win Margin increased by 0.4pp to 10.7% in FY22. This is a pleasing outcome given the competitiveness of the market, with BlueBet’s discipled approach to managing promotions and generosities expanding its already strong margins.