breaking news: profit surge. new contracts.

Leading gaming technology company eBet Limited (ASX: EBT) ("eBet")
today provided a general market update and released its Appendix 4C
Quarterly Cashflow Statement (copy attached).
The Company said its Appendix 4C Cashflow report for the period 30
September 2005 demonstrated a continuing trend of stronger cashflow
quarter-on-quarter with the result of $1.324 million representing an
increase of 45% on the previous quarter and an increase of 366% on the
prior corresponding period.
Managing Director and CEO, Mr. Tony Toohey, said that increased cash
receipts reflected stronger domestic and international activities.
Receipts from Customers were up more than 18% on the previous quarter
to $4.893M, an increase of more than 28% on the prior corresponding
period.
The Company also advised that the Company had made a series of
enhancements and changes to its US linked-jackpot business and
operations which it believed would further enhance the Company's
performance over time.
It said it had received technical approval from gaming testing lab GLI
to introduce its linked-jackpot product offering on games manufactured
by Aristocrat, Williams, Atronic and Spielo. These are in addition to
the current approval to operate on games from world-leader IGT. It
said that it expected these approvals to increase appeal and
flexibility of the system and lead to an increase in machine numbers.
In response to market feedback from players and casinos eBet has
varied its jackpot parameters through the introduction of a
lower-level wide-area jackpot of US$100,000 (previously US$1,000,000).
The Company said that this change would significantly increase jackpot
"hit" frequency, a move it expects to further broaden appeal for
players and casinos alike.
The aforementioned changes have enabled the Company to introduce
"in-house" jackpots for casino operators in conjunction with the
wide-area jackpot offering and to tailor new customized theme packages
for participating casinos.
Mr. Tony Toohey said that market feedback to the new game approvals
and the various product enhancements had been extremely positive with
existing casinos agreeing to connect around 200 machines to new
in-house links and in some cases add additional machines to the
wide-area link. He said that he expected further expansion from the
changes including the addition of more casinos.
30/9/2005 Appendix 4C Page 1
Appendix 4C
Quarterly report for entities
admitted on the basis of commitments
+ See chapter 19 for defined terms.
"We have been through a strong and positive learning curve since
launching the product in the US which has led to these variations and
additions", said Mr. Toohey. He added, "We have worked closely with
our existing casinos to enhance and revise our product offering to
meet market and player feedback and opportunities; a process that we
will continue with as we expand our operations".
The Company further advised that its international opportunities
continued to improve with the recent expansion of its gaming systems
into the Korean Gaming Market.
Mr. Toohey said that eBet was very happy to be working with the Walker
Hill Gaming Group through their operations in Korea. In concluding he
said that the Company sees Korea as with many parts of Asia, as an
emerging gaming market, and that he believed that the opportunity
further strengthened eBet's international gaming systems business.
About eBet
eBet Limited is listed on the ASX (Symbol: EBT) with operations and
contractual arrangements in Australia, New Zealand, Greece, Singapore,
the Philippines, Russia and the USA.
eBet develops and markets a range of networked solutions for gaming
machines. It is one of the world's largest gaming systems companies
with more than 450 customers who collectively operate more than 40,000
gaming machines. Its card-based cashless gaming systems, player
tracking and loyalty systems, data management and linked-jackpot
solutions are installed in leading gaming venues in Australia, New
Zealand, the Philippines, Greece, Singapore, Russia and the USA.
eBet also develops and supports Internet-based wagering systems for
licensed gaming operators in international markets. Its key customers
are the New Zealand TAB and Penn National Gaming Inc. (NASDAQ: PENN).