I am excited to announce that we have entered into an agreement with Tabcorp to acquire the eBet business (formerly Intecq Limited). This will involve the establishment of a new acquisition vehicle (Venue Digital Technology Pty Ltd), which will acquire eBET and all supporting technology and key personnel will transition from Tabcorp. The business will operate as eBet once the transaction has completed.
Completion of the transaction is subject to standard regulatory approvals that will take an estimated 2-3 months with transition commencing immediately. We anticipate a smooth transition of the eBet business away from Tabcorp and into an agile standalone entity run by a new team.
eBet will be headed up by me supported by the strong industry experienced executive team from Cherry Hub and the existing eBet team. I have had a long history working with gaming systems as an operator of gaming venues in NSW and Victoria, and as a supplier of gaming systems having previously led Maxgaming and Tabcorp Gaming Services. As co-founder of Cherry Hub, I have been working with venues to introduce leading digital technology to address the changing needs of the industry. eBet has an existing integration agreement in place with Cherry Hub and the businesses will work together to enhance the real-time integration of these systems for the benefit of joint customers. Cherry Hub will continue as a standalone system-agnostic innovation hub, focused on leading edge digital technology for the entire industry.
We have been planning this for quite some time and have an action plan in place for immediate execution to increase investment in our clients, focused on:
- Ensuring ongoing stability of existing platforms
- Enhanced customer service and support
- Introduction of new products and solutions
- Supporting digital transformation
We have an exciting roadmap for the future with our primary focus on ensuring we are aligned with the needs and wants of our existing customers. Therefore, we will be consulting with current and potential new customers over the coming months.
We are passionate and committed to supporting the future needs of gaming venues in Australia as their customers’ expectations evolve and as regulatory changes emerge.