Australia’s BlueBet secures market access to AZ for sports betting.

BlueBet, an Australian gaming company, announced on Tuesday that it has finalized an agreement with the Colorado River Indian Tribes and BlueWater Resort & Casino in Arizona. This deal will grant BlueBet access to the new Arizona sports betting market, which is scheduled to launch on September 9th.

The company has confirmed that it has submitted a license application and expects to receive approval before launching AZ sports betting apps, resulting in an expansion of the sports betting market.

There are 20 sports wagering licenses available in Arizona, with half reserved for sports teams/pro sports facilities and the other half for Indian tribes. The Department of Gaming is currently reviewing applicants for the upcoming launch date, which will coincide with the start of NFL betting in Arizona for the 2021 season.

The news was announced one day after BetMGM AZ partnered with the Gila River Indian Community and the NFL Arizona Cardinals. This agreement will bring sportsbooks to three Gila River casinos and State Farm Stadium, where the Cardinals play.

BlueBet has recently made its debut in the U.S. market in Iowa by partnering with the Dubuque Racing Association, which owns Q Casino. The announcement was made in July, with the company also disclosing its application in Virginia awaiting approval. BlueBet is now focusing on expanding into the sports betting sectors of Colorado, Tennessee, and Maryland.

In July, BlueBet began trading on the Australian Stock Exchange after raising $80 million through an IPO.

BlueBet CEO Bill Richmond shared his enthusiasm in a recent news release about the agreement announced just two months after BlueBet’s IPO. He sees the expansion into Arizona as a fantastic opportunity for the company in the U.S.

On July 20th, PointsBet, an Australian gaming company, announced a successful partnership with Cliff Castle Casino Hotel and the Yavapai-Apache Nation in Arizona, allowing them to enter the growing U.S. market.

Arizona An ’Unpenetrated Market’

Richmond expressed that the Arizona agreement represents a significant step forward in their expansion initiatives in the United States.

In the release, Richmond highlighted the unique opportunity presented by the untapped Arizona market, which is home to a large population of sports enthusiasts. He noted that Arizona’s population is twice the size of Iowa, where the company’s first US skin is located, and where the sports betting market is projected to generate more than a billion dollars in gaming revenue each year.

Richmond indicated that the company had not initially considered Arizona as a top state for their expansion in the United States.

He said that our plan in the U.S. is to actively and continuously seek out new opportunities to quickly grow our presence and take advantage of this promising green field opportunity.

A survey commissioned by yengols.com found a high level of interest in legal sports betting anticipated for Arizona’s market launch.

Details of the Deal

The news release details the 10-year agreement between the tribe and BlueBet.

• BlueBet’s new online sportsbook will be available on their mobile app and website platform technology pending regulatory approval. The app’s name will be disclosed at a later time.
• BlueBet will pay the tribe an access fee for the market and a share of the net gaming revenue from online sports betting activities.
• BlueBet has committed to making an annual contribution to a community organization associated with the tribe.
• BlueBet will pay for the licensing and regulatory expenses associated with running the online sportsbook.