Convertible note triumph for eBet, page-7

Here's an excerpt from Huntleys re eBet's pending takeover of Turbo, it's largest Australian cashless gaming rival:

"....The acquisition.....will not only firmly establish EBT in profit but will also assist in the roll out of EBT's own cashless gaming product. It is an easier sell to convince existing customers of a new or improved product. Ebet currently has 140 NSW customers with more than 14,000 machines. This includes seven of the top 10 clubs and 26 of the top 40 venues in NSW...... the Turbo Bonus business is the largest Australian card based loyalty supplier for gaming venues with more than 230 customers in NSW, Queensland and South Australia representing more than 23,000 gaming machines....."

Once again, this strategic takeover by eBet of its major rival is a master stroke by the company. It makes much more sense to accelerate growth by cannibalising rivals than to simply mature via slow, organic growth. EBT is now poised to become one of the world's largest cashless gaming companies, a growth industry. Never again will it see red ink at the end of any financial quarter. Profitability henceforth will be the order of the day. Great to see a small Aussie company take on the world in a niche area - and succeed.