BrainChip soars on Las Vegas casino deal

29/09/2016 - 15:07

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Shares in technology company BrainChip Holdings have skyrocketed on news the company has landed a deal with an unnamed Las Vegas casino.

BrainChip soars on Las Vegas casino deal
BrainChip chief executive Peter Van Der Made.

Shares in technology company BrainChip Holdings have skyrocketed on news the company has landed a deal with an unnamed Las Vegas casino.

BrainChip will roll out its spiking Game Outcome software technology, which visually and automatically detects dealer errors by monitoring the video streams from standard surveillance cameras, across all baccarat tables in the casino

A second casino is also set to be fitted with the same technology next month.

BrainChip was developed out of an incubator at the Innovation Centre WA in 2012, and made its debut on the ASX last year after completing a reverse takeover of Perth-based Aziana.

Under the agreement, BrainChip will be paid a monthly fee for each table that Game Outcome is installed on.

Investors jumped on the news, with BrainChip shares soaring over the day and closing 142.8 per cent higher, or 15 cents, to 25.5 cents a share.

BrainChip is also trialling a second product application across a range of table games including blackjack, blackjack switch and ultimate poker.

“Security is one of the highest priorities for casino operators and we have been able to show that our system is highly effective in protecting the integrity of table games,” BrainChip chief executive Peter Van Der Made said.

“We believe that there are many more opportunities for our technology to provide real solutions to complex issues by harnessing the power of BrainChip’s autonomous learning capabilities.”

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