Monday September 19,2011 : Two Way interactive television wagering service provider granted a halt pending a capital raising statement
Australian publicly listed interactive television gambling provider Two Way was granted a trading halt by the ASX Monday pending a key capital raising announcement.
The company, which developed its television wagering service in collaboration with Tabcorp Holdings and Foxtel has not yet indicated where the funds will be allocated, but it has recently made major progress in moving towards an increased revenue stream.
The interactive wagering service was recently extended to include Racing and Wagering Western Australia and TattsBet Limited, and there is potential to establish similar relationships with other wagering and broadcasting partners throughout Australia and overseas.
The company's products are currently being deployed by leading wagering and interactive TV operators in Australia and New Zealand, with the client list including Tabcorp, RWWA, TattsBet, Sportingbet, Betfair, Foxtel, Austar, Optus TV and Sky New Zealand – and Two Way having five year contracts with many of these major companies.
The service includes live betting capability linked to the betting engines of all the TABs, and is Australia’s first and only TV wagering service. In the last three years more than 25,000 users have placed at least one bet using the TAB Active interactive TV service on the Foxtel platform.
Two Way earlier reported that more than 15.5 million bets in total have been made thus far, with total turnover exceeding A$137 million.