eBet NPAT up 226 percent for six months 2014

Australian electronic gaming company eBet Ltd. announced strong results for the six months ending December 31 2014, with net profit after tax increasing 226 percent to $3.7 million.

The company’s revenue increased 6 percent year-on-year to $22.3 million while EBITDA increased 17 percent to $4.3 million.

Ken Carr, eBet CEO, said the results reflect the company’s growth following the acquisition of gaming systems company Flexi-NET in July 2014.

“The result reflects strong growth in our core systems business and the benefits of increased scale achieved through acquisition.”

“In particular, during the half year, we broadened our footprint in Australia via the acquisition of Flexi-NET, and we continued to grow recurring revenues in our core Gaming Systems Sales and Gaming Operations businesses.”

The company’s gaming system sales revenue grew 45 percent on the previous corresponding period, while gaming operations sales grew by 12 percent. Gaming machine revenue declined 92 percent ”as the company moves to exit this business” due to the industry becoming highly competitive and low margins.

 

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