eBet Enters US Gaming Market With Major Jackpot Link Deal

20 May 2004

AUSTRALIA -- (PRESS RELEASE) -- Leading gaming technology company eBet Limited (ASX/NZX: EBT) (.eBet.) today announced that it had secured agreements to supply and operate a linked jackpot system throughout a number of California Native American casinos. It is anticipated that the initial stage of the operation will generate in excess of $A7m revenue and anticipated $A1m EBITDA in its first full year, with significant upside potential in year one and future years.

Initially eBet's system will link 400 gaming machines across four of Californian's largest Native American casinos, each of which is comparable in size and function to Australian casinos such as Crown and Star City. Further expansion is anticipated across up to a further 26 casinos in California, which typically operate over 1,000 machines each. The Link, which will deploy patent-protected technologies, is scheduled to commence operations within 60-90 days.

California is widely considered as the growth capital of the US gaming market. The State of California has signed 61 tribal gaming .compacts. since September 1999. Native American Tribes operating under these compacts now operate well in excess of 40,000 gaming machines, with significant further expansion anticipated.

As announced in March this year eBet has secured exclusive rights from Tab Limited (ASX: TAB) (.Tab.) to utilise Tab.s successful linked jackpot brands and associated marketing materials and programs in Native American casinos. These brands include Maximillions, Dollar Dazzler, The Stash and Bullionaire. The use of these brands provides eBet with proven marketing strategies and improves speed-to-market.

To fund the initial roll-out of the project eBet has completed a placement of 24,613,800 ordinary shares at $0.09 cents per share raising $2,215,242 from institutional and professional investors.

eBet managing director, Mr. Tony Toohey, said the Californian gaming operations have evolved from tent-like structures to multi-faceted entertainment and gaming facilities on par with the best in the world.

In highlighting the potential for the eBet link in California Mr. Toohey pointed out that the Sydney metropolitan market has one gaming machine for every 53 persons compared to one gaming machine for every 350+ persons in markets in which the link will initially operate. .It is obvious that demand greatly exceeds available supply in these markets, leading to machine and link yields well beyond those typically experienced in Australia,. said Mr. Toohey.

He concluded, .This is a very significant deal for eBet as, aside from the immediate revenue upside, it sets the foundation for the Company to play a major roll in what is perhaps the most significant growth market in the World..

Ebet have arranged an investor information conference call for Monday 24th May 2004. All interested persons/organisations should register the participation by contacting eBet by close of trade Friday 21st May 2004 on ph 8748-8000, fax 8748-8052 or email dbryne@ebetonline.com

About eBet Limited

eBet Limited is listed on the ASX and NZX (Symbol: EBT) with operations and contractual arrangements in Australia, New Zealand, Greece, Singapore, the Philippines 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 and data management solutions are installed in leading gaming venues in Australia, New Zealand, the Philippines, Greece and Singapore.

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).

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	eBet Enters US Gaming Market With Major Jackpot Link Deal 20 May 2004 <a href='https://ad.casinocity.com/adclick.php?n=a21efcd1'><img src='https://ad.casinocity.com/adview.php?what=-site:vendors/width:250/RON&n=a21efcd1' border='0' alt='' /></a> AUSTRALIA -- (PRESS RELEASE) -- Leading gaming technology company eBet Limited (ASX/NZX: EBT) (.eBet.) today announced that it had secured agreements to supply and operate a linked jackpot system throughout a number of California Native American casinos. It is anticipated that the initial stage of the operation will generate in excess of $A7m revenue and anticipated $A1m EBITDA in its first full year, with significant upside potential in year one and future years. Initially eBet's system will link 400 gaming machines across four of Californian's largest Native American casinos, each of which is comparable in size and function to Australian casinos such as Crown and Star City. Further expansion is anticipated across up to a further 26 casinos in California, which typically operate over 1,000 machines each. The Link, which will deploy patent-protected technologies, is scheduled to commence operations within 60-90 days. California is widely considered as the growth capital of the US gaming market. The State of California has signed 61 tribal gaming .compacts. since September 1999. Native American Tribes operating under these compacts now operate well in excess of 40,000 gaming machines, with significant further expansion anticipated. As announced in March this year eBet has secured exclusive rights from Tab Limited (ASX: TAB) (.Tab.) to utilise Tab.s successful linked jackpot brands and associated marketing materials and programs in Native American casinos. These brands include Maximillions, Dollar Dazzler, The Stash and Bullionaire. The use of these brands provides eBet with proven marketing strategies and improves speed-to-market. To fund the initial roll-out of the project eBet has completed a placement of 24,613,800 ordinary shares at $0.09 cents per share raising $2,215,242 from institutional and professional investors. eBet managing director, Mr. Tony Toohey, said the Californian gaming operations have evolved from tent-like structures to multi-faceted entertainment and gaming facilities on par with the best in the world. In highlighting the potential for the eBet link in California Mr. Toohey pointed out that the Sydney metropolitan market has one gaming machine for every 53 persons compared to one gaming machine for every 350+ persons in markets in which the link will initially operate. .It is obvious that demand greatly exceeds available supply in these markets, leading to machine and link yields well beyond those typically experienced in Australia,. said Mr. Toohey. He concluded, .This is a very significant deal for eBet as, aside from the immediate revenue upside, it sets the foundation for the Company to play a major roll in what is perhaps the most significant growth market in the World.. Ebet have arranged an investor information conference call for Monday 24th May 2004. All interested persons/organisations should register the participation by contacting eBet by close of trade Friday 21st May 2004 on ph 8748-8000, fax 8748-8052 or email dbryne@ebetonline.com About eBet Limited eBet Limited is listed on the ASX and NZX (Symbol: EBT) with operations and contractual arrangements in Australia, New Zealand, Greece, Singapore, the Philippines 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 and data management solutions are installed in leading gaming venues in Australia, New Zealand, the Philippines, Greece and Singapore. 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).