The acquisition of the betr’s wagering business, NTD Pty Ltd, was completed on Monday, with the company issuing just over 265 million shares to betr’s shareholders, or approximately 47.2 per cent of BlueBet’s share capital.

Full integration of the two businesses is expected before the spring racing carnival. An update on what this will look like is expected in August.

What we do know is that the company will be led by Menz as CEO and Richmond as COO, with Darren Holley as chief financial officer.

The board will feature Michael Sullivan as executive chair until January 2025 when Matt Tripp will take over that role, with Sullivan stepping back to a non-executive director role.

Tim Worner, David Fleming and Richmond are no longer company directors.  

“The completion of BlueBet’s transformational merger with betr marks a significant moment for the company and our shareholders,” Sullivan said.

“With our businesses now combined, we are highly focused on becoming a major player in the Australian wagering market, leveraging our market-leading technology and experienced and talented team.

“Integration between the two businesses is our primary focus, with the team working hard to rapidly deliver on the growth opportunities and synergies unlocked by the merger. I look forward to updating shareholders on our progress at our full-year results in August.”

Account holders were made aware of the merger on Monday.

“The merger will see an exciting range of enhancements to your betting experience in the near future. But for now, nothing is going to change,” betr account holders were told. 

“Everything will remain as is – this includes your account balance, bonus cash, pending bets etc. 

“However, both businesses will now operate under the BlueBet Pty Ltd online wagering licence issued by the Northern Territory Racing Commission. Whilst our terms and conditions have been updated to reflect the change in licensee, our betting rules will remain the same.”