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Arnold Bloch Leibler guides BlueBet’s strategic acquisition of TopSport and $15.0m equity raising

Capital Markets, Corporate and M&A
Arnold Bloch Leibler guides Betrs 15m capital raising for TopSport acquisition website

Arnold Bloch Leibler has advised ASX-listed online wagering business, BlueBet, on its acquisition of sports and racing betting company, TopSport, and a $15.0m equity raising.

As reported in the Australian Financial Review, the acquisition is a key strategic move for BlueBet as it pursues its goal of hitting a 10% market share in Australia’s wagering market.  

The ABL team was led by corporate and M&A partners Christine Fleer and Scott Phillips, lawyer Ryan Taylor and law graduates Aaron Low and Harry Campbell.

Christine commented: “This transaction further enhances BlueBet’s competitive position against international bookmakers in Australia. Congratulations to Matt Tripp, Michael Sullivan and the BlueBet team on this milestone. The successful capital raising underscores investor confidence in BlueBet following its recent merger with previous Arnold Bloch Leibler client betr.”

As quoted in the ASX announcement, BlueBet CEO Andrew Menz said: “The acquisition of TopSport materially enhances BlueBet’s profitability and scale… Inorganic growth remains a key opportunity for BlueBet and we have a laser focus and a repeatable M&A model to drive shareholder value by further consolidating the Australian wagering market.”

ABL has a longstanding relationship with wagering entrepreneur Matt Tripp, now the Chair of BlueBet, advising on transactions including the launch of betr, betr’s recent merger with BlueBet, and various other investments.