eBet enters slot games market with us$ 10 million in pre-sales

According to the company, the Maverick delivers the latest in gaming technology, is less expensive than existing machines and little more than the cost of a pre-owned machine. It achieves the price advantage through an innovative flat-pack design that enables for local assembly which significantly lowers import tariffs payable.

Easily upgradeable to allow customers to achieve maximum returns for years to come, the Maverick 1000 establishes a path for server-based gaming and is also suitable for VLT, AWP and Bingo markets. Existing customers in over 30 countries will be able to access Octavian's extensive suite of downloadable games and wide area jackpots that have already proven popular in many European jurisdictions.

The Maverick 1000 is available for outright sale or on a participation basis, depending on local market conditions. The advantage in being able to offer the participation model is that it makes the Maverick 1000 accessible to a larger number of gaming venues and generates recurring revenues for the 3 to 5 year life of the participation for eBet/Octavian.

eBet CEO and Managing Director Tony Toohey said that “this agreement and the presales orders is a clear example of the benefits that eBet's acquisition of Octavian will bring to its shareholders. Latin America conservatively has in excess of 150,000 units installed and represents a significant opportunity for the Maverick 1000. We have negotiated to extend the agreement to additional territories as opportunities arise.”

The Maverick 1000 was positively received by attendees of two of the world's most influential industry exhibitions, the G2E gaming exhibition in Las Vegas last November and at the ICE gaming exhibition in London in January where the response was extremely positive.

Toohey concluded: “We expect demand to be strong as we leverage from the established relationships Octavian has built through its local presence in Latin America and Europe. eBet expects the first 500 Maverick game kits will be placed during April this year.”

eBet Limited is listed on the ASX with operations and contractual arrangements in Australia, New Zealand, the Philippines, Korea, Vietnam, Singapore and the USA.

eBet announced on 16 November its intention to acquire the assets of Octavian International. The required financial and legal due diligence is near completion and subject to terms and conditions as outlined in earlier market releases, it is expected that the acquisition will be completed by April 2007.