The combination is set to provide "meaningful competition to the predominantly international owned bookmakers in Australia"
Arnold Bloch Leibler (ABL) has assisted online betting firm betr as it merged with ASX lister BlueBet.
According to the firm, the merger is poised to alter the landscape of the Australian online betting market. Under the terms of the proposed deal, BlueBet will take over betr’s betting operations in return for betr’s shareholders receiving approximately 56.9% of the BlueBet shares issued prior to BlueBet’s $20m capital raising.
Corporate and M&A Christine Fleer headed up the ABL team working alongside partner Scott Phillips, senior associate Luke Jedynak, and lawyers Christopher Davis, Ryan Taylor, and Ramon Callis. Taxation advice was provided by partner Shaun Cartoon, and partner Matthew Lees offered competition law advice.
“The combined experience of veteran bookmakers Michael Sullivan and Matthew Tripp and their respective teams in an ASX listed entity will be able to provide meaningful competition to the predominantly international owned bookmakers in Australia”, Fleer said.
