BlueBet is to rebrand to betr for its Australian-facing operations following the merger between the companies.
BlueBet said “extensive research and testing” with its customer base and the “wider wagering market” fuelled the decision to rebrand.
It said the market research showed “significant overall awareness of betr and the strength of its youthful, dynamic and sports-focused brand positioning.”
A new betr app will be among the customer touchpoints to change as part of the move, alongside the migration of the betr customer database onto BlueBet’s platform.
BlueBet said the move to a single brand and platform “unlocks significant operational efficiencies, optimises marketing spend and enables reinvestment to drive further revenue growth.”
CEO Andrew Menz said: “The launch of betr as our consumer brand identity in Australia marks the beginning of a new era for our customers, people and shareholders.
“Betr’s extraordinary launch campaign generated strong brand recognition and positive sentiment from Australian punters.
“Our market-leading technology will provide us with the platform to deliver a world-class wagering experience, driving greater engagement and monetisation of our customer base.
“The single brand strategy will enable us to unlock revenue synergies in addition to the $14m in annual cost synergies that will be realised by the end of this calendar year, providing a clear pathway to sustainable and profitable growth.”
BlueBet Holdings will remain the operating entity and will continue to trade on the ASX under the ticker BBT.
BlueBet struck a deal to acquire betr in April and said it is anticipating “significantly enhanced scale and increased market share” from the move.
More recently, the company exited the Indiana market and its market access agreement with the Horseshoe Hammond casino, as the review into its US operations continues.
