Australian mobile betting operator BlueBet Holdings has informed the Virginia Lottery that it will back down from its bid to obtain a licence to act as a sports betting operator in the state.
The firm had submitted an application to the Lottery Commission for a sports betting licence and had paid all the necessary fees involved, however, the Commission notified that it was not eligible for a licence.
The Commission stated that only operators with sufficient experience operating in the US and have significant minority shareholders would be considered.
As a result, BlueBet informed the Commission that it would withdraw its application and all the fees involved will be refunded to the Australian company.
Plans are still maintained for a BlueBet US expansion, following a successful implementation in Iowa.
A company statement read: “As part of its two stage US entry strategy BlueBet identified up to five priority states in the US for licences.
“The Board’s current targets remain Colorado, Tennessee and Maryland as outlined at the time of the company’s recent IPO. There are also ten states where sports betting is legal but not yet operational and these are all being reviewed and assessed against BlueBet’s entry criteria including the timing of taking first bets post Quarter 3 FY22.”
Some 18 companies applied for a license to operate in Virginia, despite only five available licenses which ultimately led to the company’s decision.
Last week, it emerged that July was the worst performing month in Virginia sports betting history after sales plummeted by 31.1%.