Ixup (ASX: IXU) expects the early two-year extension of its BetStop national self-exclusion register (NSER) contract with the Australian Communications and Media Authority (ACMA) to generate at least $4.25 million in annual revenue.
The revenue will apply through to June 2027 and will provide the company with a reliable, high-quality recurring income.
ACMA awarded Ixup the contract extension earlier this week and it secures Ixup’s RegTech (regulated gaming technology) division as a cash-positive and profitable business unit, as well as the primary driver of the company’s growth trajectory.
Chief executive officer Al Watson said the extension reflects operational performance and leadership in responsible gaming technology, with over 38,000 users enrolled and more than 22.2 billion self-exclusion checks performed since the NSER’s inception.
“Our RegTech division is now firmly established as a cash-positive and scalable business, with significant future growth potential in Australia and internationally,” he said.
He added that the Ixup board remained confident that its proven technology and continued delivery of high-performing solutions would enhance its position as a leading provider of this technology.
Launched in August 2023, the BetStop platform allows individuals to exclude themselves from online and phone wagering services nationwide.
Members of the public wishing to self-exclude can do so online or by telephone for periods ranging from a minimum of three months to a lifetime.
Once an individual has opted out, gaming providers can no longer accept bets from them, open accounts in their name or send them marketing materials.
The average response time of less than five milliseconds per check ensures real-time compliance with regulatory requirements.
Ixup was founded to address the problem of sharing and analysing sensitive data using advanced encryption and innovative data solutions.
The company is focused on the emerging regulatory gaming and problem-gambling prevention technologies market, where it combines the highest levels of security and privacy within a scalable transactional platform capable of managing extreme demand.
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