eBet clears up bills early
By maddy
eBet Limited (EBT) the developer of Internet-based wagering systems said it has reached an agreement for the early repayment of amounts due on the gaming technology company’s sale of its ACT-based sports and race betting business to Bet Worldwide.

Under the terms of the deal announced last November, EBT agreed to a discount on the purchase price in order to receive payments over a shorter period of three years, instead of five years. The renegotiation also included US$1.4 million to be received within 12 months from the date of sale, instead of 27 months, with a further $0.6 million paid on an agreed schedule.

The company also noted that interest is to be paid at 6 percent per annum on the balance with security provided by a fixed and floating charge over Sports Acumen and a share mortgage over Bet Worldwide’s shares in Sports Acumen.

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