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eBet trials card system in lucrative NSW market

By Phil Boeyen, ShareChat Business News Editor

Monday 16th October 2000

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Listing betting company eBet has been given approval to trial its card-based cashless gaming system in New South Wales, opening the door to the state's 100,000 gaming machine market.

The system uses a magnetic-stripe card on gaming machines and is already being rolled out in New Zealand. The NSW trials will run for 90 days and will start within a week.

eBet MD, Keith Cullen, says the system has registered strong demand from hotels and clubs who recognise the efficiencies, convenience and security that it offers gaming machine players and operators.

He says once sales start the company is forecasting significant revenue from the high-demand, high margin products.

"Our cashless gaming products are the corner-stone of our gaming systems division. With around seven million gaming machines word-wide the international market potential for cashless systems is enormous. We expect eBet's cashless system sales to be in the several million dollar range in their first full year in the market."

Mr Cullen says eBet's system is the first to be approved for live trial, and because there are many barriers to entry it should give the company a significant 'first-mover advantage' which will help it capture substantial market share.

eBet is listed on both the Australian and New Zealand stock exchanges and has two main business units - eBet Online and its Gaming Systems Division.

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