Webis Holdings PLC WatchandWager Renews Key USA Licenses (3306K)
28 Agosto 2019 - 1:00AM
UK Regulatory
TIDMWEB
RNS Number : 3306K
Webis Holdings PLC
28 August 2019
FOR IMMEDIATE RELEASE:
Webis Holdings plc
("Webis" or the "Company")
WatchandWager Renews Key USA Licenses
The board of Webis, the Group specialising in pool wagering and
the operators of Cal Expo, the Californian harness track, is
pleased to announce that its US-based Advanced Deposit Wagering
business, WatchandWager.com LLC ("WatchandWager") has been granted
a renewal of its license to conduct harness racing at Cal Expo by
the California Horse Racing Board, which is planned to run till
25(th) April 2020.
With the renewal of the Cal Expo license, the Board is also
making shareholders aware that the Company is in advanced
negotiations with the Cal Expo landlord with a plan to obtain a
significant extension of the contract to operate racing at the
track. The Board believes that the securing of such an extension
for its retail operations in California will be beneficial to the
Company in the long term. Further details will be released in the
coming months.
WatchandWager has been operating live racing at Cal Expo since
2012. The 2019-2020 Cal Expo Harness Racing season will begin on
Saturday, 9 November 2019 and will run 47 race dates on Fridays and
Saturdays through Saturday, 25 April 2020. Cal Expo is the only
Harness Racing race track in California, and WatchandWager's
operation of it is vital to supporting the breed and horsemen in
the State. In addition to the racing, WatchandWager makes financial
contributions to the California horse industry to promote breeding
and racing in the State.
At the same time as its Cal Expo racing license has been
approved, WatchandWager continues to update and renew critical
pari-mutuel wagering licenses within the US market. WatchandWager
recently renewed pari-mutuel wagering licenses to accept wagers
from residents of New York and Washington, and the Company is
currently in the process of renewing its key licenses in
Kentucky.
WatchandWager president Ed Comins believes the company's
commitment to integrity and the rules enhance its ability to obtain
renewals and position it well for future growth.
"I am confident that all applicable licenses will be renewed for
WatchandWager as the Company takes regulatory compliance as its
highest priority," Comins said. "We are pleased to renew our
investment in our licenses. We believe that they will reap
significant dividends for WatchandWager as more states move to
authorize sports wagering in the near-future."
This announcement contains inside information for the purposes
of Article 7 of EU Regulation No. 596/2014 on market abuse. Upon
the publication of this announcement via a Regulatory Information
Service, this inside information is now considered to be in the
public domain.
For further information: -
Webis Holdings plc Beaumont Cornish Limited
Denham Eke Roland Cornish/James Biddle
Tel: 01624 639396 Tel: 020 7628 3396
ENDS
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END
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