Extension of Cal Expo Harness Racing contract

RNS Number : 6629A

Webis Holdings PLC

09 June 2016

 

Thursday 9 June 2016

WEBIS HOLDINGS PLC

("Webis")

WatchandWager extends contract to operate Cal Expo Harness Racing

The board of Webis Holdings PLC, the Group specializing in pool wagering and racetrack operations, is pleased to announce that its Advanced Deposit Wagering (ADW) business, WatchandWager.com LLC ("WatchandWager") has extended its contract to operate Cal Expo Harness Racing, the Californian harness racing track based in Sacramento through to 2021. WatchandWager received unanimous approval from the Board of Directors at Cal Expo in Sacramento on 3^rd June.

WatchandWager entered into a contract to operate Cal Expo Harness in 2012.  Since assuming the operator's license for Cal Expo, WatchandWager has been pleased with the progress that has been made by the track to date.  The contract extension with WatchandWager guarantees that California harness racing fans and horsemen will continue to have a local venue for live Standardbred racing into the next decade.

In addition to supporting live horse racing in California, WatchandWager's contract to operate Cal Expo Harness is a strategic trade license which enhances the ADW wagering business both in the US domestic market and on the international stage.  By operating the only live harness racing track in California, WatchandWager has significant leverage in negotiating wagering contracts and licenses with domestic and international tracks and racing associations.

Ed Comins, President of WatchandWager, believes that the new contract with Cal Expo strengthens the future of both the track and the company.

"We are proud to reach an agreement with the Board of Directors of Cal Expo," Comins said.  "WatchandWager remains committed to the US racing industry by providing live harness racing to fans and supporting California horsemen with revenue from wagering.  We look forward to building upon the progress over the next five years of the contract."

Racing at Cal Expo is scheduled to resume in early October, subject to the normal regulatory approval.

For further information please contact:

Ed Comins

Managing Director, Webis Holdings PLC

Operators of:

WatchandWager.com LLC

m: [phone]

[e-mail]

Webis Holdings plc                        Tel:        [phone]

Denham Eke

Beaumont Cornish Limited         Tel:        [phone]

Roland Cornish/James Biddle

 

END

 

 

MSCSSUFMAFMSEEM