Ebet Looks Strong
By claire
Australian online gambling company eBet Ltd said today that 2000/2001 would be its final year of operating losses. Ebet said that product innovation, internal growth and acquisition has led to a significant increase in revenue over the past few years. Ebet's provisionally unaudited revenue for the last financial year showed significant improvement, increasing by 135 per cent to $A6.273 million ($US3.19 million). The primary revenue driver is expected to be the gaming systems division which is set to unveil a new product which is to be sold directly into the New South Wales poker machine market. Revenue from this division rose 10 per cent in 2000/2001 and is expected to continue to grow strongly over 2001/2002. The company also said that its online operations were performing soundly with revenue for 2000/2001 up 332 per cent from 1999/2000. Ebet has entered the US internet market and is expected to benefit from a growth in race wagering over the next few years.
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