BlueBet Holdings grew active customers by 21% over the 1Q, a 2% beat versus Ord Minnett's estimate, while free cash flow was
$2.9m above forecast. The broker retains its Buy rating and $2.70 target price.

Incremental marketing expenditure along with the looming Spring Racing Carnival is cause for hope on the customer acquisition and usage front, according to the analyst.

Target price is $2.70.Current Price is $2.00. Difference: $0.70 - (brackets indicate current price is over target). If BBT meets the Ord Minnett target it will return approximately 26% (excluding dividends, fees and charges - negative figures indicate an expected loss).

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