eBet Ltd completes cashless gaming system trial

Internet gaming company eBet Ltd expects to begin installing its cashless gaming system into clubs and hotels almost immediately after successful trials in New South Wales.

The Government-Accredited Testing Facility (ATF) has recommended the mag-stripe cashless gaming system receive unconditional approval from the Liquor Administration Board (LAB) following the trials, eBet managing director Keith Cullen said.

eBet, which experienced strong revenue growth in the first half year, expected the solid upward trend to improve when sales of the cashless systems commenced shortly, with great profitability in the next financial year.

The company hoped its “first-mover advantage” would help it snare significant market share in the systems, which has already generated interest.

“We have received inquiries and expressions of interest from clubs and hotels representing several thousand gaming machines that are keen to install cashless systems,” Mr Cullen said in a statement.

The cashless gaming systems were trialled at Sydney’s Wentworthville Leagues Club and Cheers Bar and Grill, in the final step of the formal LAB approval process before their sale in NSW.

The ATF’s report was expected to have been lodged with LAB today.

“The LAB will now review the report and we anticipate approval to commence installations following that review,” Mr Cullen said.

He said NSW was a very important market for the company, with its existing customer base of more than 130 venues operating more than 12,000 gaming machines.

“From this base we believe we can capture a significant share of the 100,000-machine market with this exciting new product and having already enjoyed success in Singapore, New Zealand and Greece, we will of course continue to pursue international sales.”

At 1444 AEDT eBet shares were steady at 17.5 cents.