EWS - US acquistion and Licen

RNS Number : 4210S

Webis Holdings PLC

09 September 2010

 



9 September 2010

Webis Holdings Plc

European Wagering Services - US Acquisition and License Update

The board of Webis Holdings Plc ("Webis" or "the Group") announces that European Wagering Services ("EWS"), the Group's pari-mutuel operation, has acquired the domain name, trademark and assets of WatchandWager.com LLC ("WAW"), a company registered in Nevada and licensed by the State of North Dakota Racing Commission ("NDRC"), for a total consideration of $0.1 million in cash.

As part of the acquisition, the NRDC has also granted formal approval for:

·    EWS and WAW to conduct pari-mutuel account deposit wagering in the US, subject to state by state legislation, under the licence held by WAW;

·    WAW's existing gaming licence to be extended to include business derived from EWS' current principle website www.link2bet.com and all of its associated own brand wagering platforms; and

·    EWS to commence business operations and process pari-mutuel turnover  under the NDRC licence with immediate effect.

The acquisition of WAW and licensing of both WAW and EWS under the NDRC fulfils the Group's previously stated aim to develop further its presence within the US horseracing and pari-mutuel wagering industry. EWS is now progressing with plans to establish a permanent sales and marketing operation in the US. Ed Comins, the Group's Pari-mutuel Operations Director, will continue to lead EWS' operations in Europe and the further development of WAW.

Commenting on the acquisition, Mr Comins said: "WatchandWager will significantly enhance EWS' presence and ability to develop effectively its sales and marketing strategy within the US pari-mutuel horseracing industry. An "on the ground" US gaming licence and business operation also provides EWS with a significant first mover advantage in the US on-line betting and gaming market place."

For further information please contact:

Webis Holdings Plc Gary Knowles, Managing Director Ed Comins, Pari-mutuel Operations Director	01624 698141
Evolution Securities Limited Joanne Lake / Peter Steel	0113 243 1619

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