OtherLevels Holdings aims to benefit from the outsourcing of regulated lotteries in Europe and the US, following on from year-end results featuring a 56 per cent increase in revenue to AUS$5.25m.
With positive operational cash flow in Q2 and Q3 during the year ended June 30, 2017, OtherLevels cut EBITDA losses to $1.1m, a 73 per cent improvement compared to $4.1m in FY17.
Customer receipts improved by 33 per cent to $5.62m (excluding research and development) from $4.2m in FY17.
A company statement read: “The company continues to focus on the lotteries and wagering sector and sees on-going opportunities within the sector due to the transition from government to outsourced operation of regulated lotteries in Europe and the US. The Company added another national European lottery client during the period and is confident of securing its first US state-based lottery client in FY19.”
