SenSen Networks Ltd (ASX:SNS, OTCQB:SNNSF) has extended its contract of sale with Crown Melbourne Ltd to provide its proprietary, patent-pending, sensor AI gaming products to Crown Melbourne’s casino.
According to SenSen, its new and enhanced AI solutions provide casinos with real-time, highly accurate data about players and their activities. The company says it also provides a platform that could aid in supporting responsible gaming initiatives.
“Next evolution in data analytics”
SenSen CEO Subhash Challa said, “Our AI solution provides the next evolution in data analytics that helps casinos accurately match game activity to players and complements our patented chip recognition technology.
“We are pleased to be working with our long-term partner Crown and its use of our AI solutions to enhance Crown’s operations.”
Crown Melbourne is one of Australia’s largest resort-casinos and one of the most visited tourist destinations in Australia. Amidst strengthening a five-year relationship with the resort, SenSen is rolling out its new table game analytics solution to Crown Melbourne.
The contract provides for a minimum rollout of SenSen’s technology to 40 tables, totalling A$725,000 over two and a half years, with additional upfront and annual recurring revenues.
Access to 9,000 casinos globally
SenSen executive director and head of gaming solutions Heather Scheibenstock added, “SenSen has the opportunity to significantly expand its gaming footprint with an addressable market of more than 9,000 casinos globally.
“Our focus is to grow from three casinos (Crown Melbourne, Solaire Resort and Casino – Philippines and Hippodrome Casino London) to more than 30 in the next three years.
“By removing expensive and disruptive installations, casinos worldwide can get quick and easy access to real-time data to measure and set KPIs and improve the overall customer experience.”
Patent update
SenSen’s patent portfolio relating to casino table game analytics includes multiple distinct patent families with more than 30 national applications in various countries around the world.
The company has already obtained patents in the USA, Singapore and Australia and will continue to pursue patent protection in key markets for gaming to underpin and reinforce SenSen’s key technology and commercial positions.
Share Purchase Plan completed
SenSen has completed its share purchase plan (SPP) announced on November 5, raising A$2,796,500 with 23,304,096 new fully paid ordinary shares to be issued on December 20, 2021. All valid applications under the SPP were accepted in full.
The issue price of A$0.12 represents a 9.9% discount to the volume weighted average market price of shares on the ASX during the five market days before the original announcement.
Commenting on the SPP result, CEO Challa said, “This is a great outcome for our company and allows us to further fund SenSen’s continued growth momentum through targeted investment in sales, marketing product innovations, product delivery and project management.
“Together with the recent placement, SenSen has raised about A$7 million and the board thanks our loyal shareholder base for their strong support.”
The SPP shares are to be issued on Monday, December 20, 2021, with quotation to commence on Tuesday, December 21, 2021.
About SenSen Networks
SenSen Network is focused primarily on the development, commercialisation and supply of innovative, data-driven business process enhancement solutions.
The company’s software combines enterprise video and sensor data acquisition, data fusion and IoT and Big Data analytics into a highly scalable and configurable platform that allows customers to improve the speed and accuracy of their decisions.
SenSen’s R&D and sales teams in Melbourne are supported by an Indian team providing administrative and back-end support and services, including, software testing, quality assurance and customer support.