Ebet details share placement for Flexi-NET purchase

    Australia’s Ebet said it will sell 2,296,975 ordinary shares to finance the recently announced acquisition of gaming services business Flexi-NET.
    The stock will be sold for $3.65 each ($3.43) and will not carry the right to the September dividend of 5.5 cents a share. The placement will raise $8.3 million.
    The company announced plans to buy Flexi-NET earlier this month from Independent Gaming Pty for $4.8 million plus inventories to expand its presence in the New South Wales club and hotel gaming systems market.
    Ebet said the acquisition would have boosted 2014 EPS by about 21 percent.
    Flexi-NET services 84 venues and 8,100 gaming machines in the state. It will increase Ebet’s installed base to 62,100.