Sports betting in Arizona: Betfred to cease operations
The company has announced that it will cease sports betting operations in November.
US.- Betfred has announced that it will cease sports betting operations in the US state of Arizona. The company ended operations in Colorado and shut its sportsbook in Ohio on August 31. It has also ceased operations in Maryland.
Yesterday (September 19) was the last day for new customers in Ariz to create an account and wager. The operator plans to cease operations in the state on November 4. Users have until November to withdraw funds from their accounts.
Betfred Sports launched online sports betting in Arizona in 2022.
Betfred reports strong annual results
In July, Betfred reported results for the year ending October 1. Online revenue doubled to £331m due to its purchase of a 51 per cent stake in the South African operator Lottostar in 2022. Lottostar contributed £134m of revenue and £41m of net profit.
Meanwhile, retail revenue was up by 3.5 per cent at £577m despite the closure of 77 betting shops. EBITDA before exceptional charges was £117m, up from £67.8m in the previous year, while turnover was up 26 per cent at £908m.
