InFocus Signs First Codexa ROW Deal With $2.4M Minimum

InFocus disclosed the deal on October 16, eight days after announcing its expansion beyond US sweepstakes casinos. Its gaming subsidiary, IFG iGaming, will develop the new module and supply the technology. The customer will operate the gambling business.

$2.4M Minimum Covers Several Fee Types

According to the October 16 ASX announcement, the agreement was signed with a private investor involved in the entertainment sector, including sports and live music. The customer intends to establish a separate company to run the operation.

The initial contract runs for 24 months once its conditions are satisfied. Payments will be calculated through three components:

• Minimum commitment – $2.4 million over the initial term;
• GGR-based fee – up to 5% of gross gaming revenue, with the exact percentage undisclosed;
• Managed services – charges for hosting, infrastructure, deployment, maintenance and support.

The GGR and managed-services fees count towards the $2.4 million minimum. They are not automatically added on top of it. Additional revenue is possible if the customer’s activity generates charges above the agreed floor.

The contract has not yet commenced, and the minimum amount is not revenue already received by InFocus.

Prediction Markets Module Needs Nine Months

The customer has requested technology for trading contracts linked to future events. The module will handle market creation, positions and settlement alongside Codexa ROW’s casino wallets and compliance systems.

IFG iGaming expects development to take approximately nine months. It will cover the cost itself. The company will also keep ownership of the software, including modifications requested by this customer. The agreement grants six months of exclusivity for the new module after commercial launch. Codexa ROW itself is not covered by that restriction.

There is a funding issue as well. InFocus reported A$228,581 (about US$158,100) in cash and A$3.89 million (about US$2.69 million) in net liabilities at June 30, 2026. The figures come from its FY2026 annual report.

Conversions use the June 30 AUD/USD rate of 0.6917. These figures predate the company’s subsequent financing.

Licensing and Testing Before September 2027

Codexa ROW must be commercially ready, and the customer needs the required gambling licences. The new module must also pass acceptance testing, which can take up to 60 days.

15M calculates that a nine-month development period starting on October 16 would put completion around July 16, 2027. That leaves 76 days before the September 30 deadline. Testing alone could use up most of that time. InFocus has not disclosed when development actually began.

If the conditions are not met by September 30, either party can terminate the agreement. Once the contract takes effect, the customer has another 90 days to launch commercially.