What’s happening at eBet?

Shares in eBet have been suspended from trading in Australia pending a “price sensitive” announcement; the company is engaged in the business of electronic gaming machine systems, wagering and online gaming technologies and distributes WMS equipment.

In a filing with the Australian Stock Exchange, eBet requested the suspension to allow an as yet undetailed share placement to be conducted in an orderly manner. It also plans to announce a related transaction at the same time, but is unclear it will be in a position to do so before July 16th, Management said.

The shares closed at a peak just before the weekend, reaching A$3.95.

Earlier this month the company announced guidance for net profit before tax of between A$3.5 million and A$3.7 million for the financial year ending 30 June 2014. This represents an increase of between 22 and 30 percent from the prior year and sets a new record for the company.

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