Adveritas (ASX:AV1) said its TrafficGuard software signed new and renewal contracts with global sports betting organizations, LeoVegas, FanDuel, and Bally's, as well as other enterprise customers, according to a Tuesday filing with the Australian bourse.
The combined annual contract values of these deals amount to about AU$1.1 million.
TrafficGuard is currently engaged in group deal talks with holding companies of sports betting firms, the filing said.
The company invested in product development across the Meta suite to cross-sell new vertical protection solutions to its existing sports betting customer base, per the filing. A commercial rollout is planned for the second half of fiscal year 2025 and the commercial team is planning to monetize these solutions in the March quarter.
It added that it is focused on entering the e-commerce sector as well as entering long-term strategic partnerships with agencies.
Adveritas' shares rose over 4% in recent Tuesday trade.
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