Gaming system technology company eBet (ASX:EBT) has slashed its debt by $3.2 million via the repayment of 10% convertible notes.
The company's total debt is now less than $2.5 million, and has been reduced by some $14.3 million over the last three years, eBet CEO Tony Toohey said.
“The redemption...removes a potential overhang on our share price, now that the notes will not be converted into shares,” he said.
“With very manageable debt levels and continuing strong cashflows, eBet is well placed to achieve additional growth over the next few years.”
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