NTN Communications, Inc. announced late last week that it has sold the assets of its wholly owned subsidiary, IWN, Inc., to eBet Limited, owner of eBet Online, in exchange for approximately $1.3 million in cash and 4,000,000 shares of eBet stock.
eBet Online distributes the racing and sports betting product of the New Zealand TAB on the Internet via its Web site at www.ebetonline.com. The product offering includes totalisator betting on all New Zealand and many Australian races and fixed-odds betting on more than 20 sports including rugby, UK and European soccer, golf, tennis, motor racing, American football, baseball, basketball and more.