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Webis Holdings PLC (WEB)

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Tuesday 06 June, 2017

Webis Holdings PLC

WatchandWager - New York State license approved

RNS Number : 2792H
Webis Holdings PLC
06 June 2017
 

WEBIS HOLDINGS PLC

("Webis")

6th June, 2017

WatchandWager's New York State license approved

ADW may now accept wagers from the Empire State

 

The board of Webis, the Group specializing in pool wagering and the operators of Cal Expo, the Californian harness track, is pleased to announce that its Advanced Deposit Wagering ("ADW") business, WatchandWager.com LLC ("WatchandWager") received a license approval from the New York State Gaming Commission on Wednesday, 31st May. This new license means WatchandWager can commence accepting registrations, deposits and wagers from residents of New York State with immediate effect, and in time for the prestigious Belmont Stakes, run at Belmont Park, NY on 10th June.  The license will be renewable annually.

 

The award of the license adds to the growing number of US States in which WatchandWager operates. Most importantly, it now secures WatchandWager a licensed presence in the two major States for horse racing by value of wagers placed, namely California and New York Itself, something many other ADW operators have been unable to achieve. It is estimated that California and New York residents wager over $1billion through ADW operations per annum and wagers on races conducted in the two key States represent over 40% of the total licensed US pool betting market of over $10billion per annum. The Board believes the acquisition of key licenses such as these is critical to the company's future as it continues to focus on the strategic development of its B2C retail operation via the watchandwager.com/mobile site.

 

New York State is a major center of horse racing in the United States with the premier New York Racing Association circuit of Aqueduct Racetrack, Belmont Park, and Saratoga Race Course.  In addition to those three tracks, the Empire State is home to Finger Lakes Racetrack as well as Buffalo Raceway, Batavia Downs, Monticello Raceway, Saratoga Raceway, Tioga Downs, Vernon Downs, and Yonkers Raceway for harness racing. 

 

WatchandWager President Ed Comins confirms the New York license is a significant development in the growth of the company: "We are delighted to be approved by the New York State Gaming Commission, who have a reputation for enhanced due diligence and demanding the highest levels of compliance," Comins said.  "The expansion of our licenses to include New York means that WatchandWager is now available to our players in the two most populous States that allow Advance Deposit Wagering.  We look forward to giving them the very best deal on the best horse racing from the United States and around the world."

 

For further information:

 

Webis Holdings plc                Tel:      01624 639396

Denham Eke

 

Beaumont Cornish Limited   Tel:      020 7628 3396

Roland Cornish/James Biddle

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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