By Phil Boeyen, ShareChat Business News Editor
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Thursday 14th March 2002 |
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The loss for the interim period ended December compares to a $2.6 million deficit for the same period the previous year. The company says consolidated revenue was up more than 60% at A$4.91 million.
Earnings before interest, tax, depreciation and amortisation were in the red to the tune of A$151,000 but the company says that was a massive improvement over the previous loss of A$1.88 million.
eBet MD, Keith Cullen, says the company is delighted with the interim result.
"We have experienced continued strong revenue growth while costs have remained relatively steady, allowing us to move towards positive Ebitda year-to-date.
"Amortisation was up 119% over the corresponding period last year to A$1.26 million largely as a result of us commencing amortisation of our cashless gaming technology, yet the net loss after depreciation, amortisation and tax for the period improved 39% to A$1.584 million."
Mr Cullen says all business areas are experiencing growth but the company believes it is only just scratching the surface of its true potential.
"We are anticipating that our growth will accelerate as we unlock the true potential of cashless gaming in NSW and elsewhere over the coming year.
"We also expect that our online business will make an increasingly significant contribution as it continues to grow, in particular in the US market."
eBet has two main units, gaming systems and an online division, and has operations or commercial arrangements in Australia, New Zealand, Singapore, Canada and the USA.
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