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EBET AND ARISTOCRAT ACHIEVE TECHNOLOGY BREAKTHROUGH FOR TICKET IN/TICKET OUT (TITO)
eBet Limited has developed innovative TIKIT+™ technology under patent licence from Aristocrat Leisure Limited that will provide the New South Wales gaming market with Ticket In, Ticket Out (TITO) technology for older gaming machines. This technology is the first of its kind in Australia.
TIKIT+™ is a new technology that enables players to play on older style gaming machines by means of a ticket rather than cash, and to transfer their credits to other machines without having to cash out. This gives players the ability to move more quickly between gaming machines, and reduces the need for cash to be more widely dispersed over a venue.
eBet estimates that based on a 20 to 30 per cent market share of the older style gaming machines currently in use in New South Wales, the revenue potential for the TIKIT+™ technology is significant.
The principal impact of TIKIT+™ sales will be reflected in eBet’s results for 2H FY2008 and FY2009, with a forecast EBITDA contribution for FY2008 of $3.4m to $3.8m, assuming final regulatory approvals are in place by January, 2008.
Managing Director, Tony Toohey said “Our association with Aristocrat opens up a market of over 3,000 venues for this innovative technology in New South Wales. The pricing will be attractive to venues at $3.5k to $4k per unit, subject to configuration. There is also the potential for this technology to be adopted by venues in other States and Territories of Australia, subject to regulatory approvals.”
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