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Webis Holdings PLC (WEB)

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Friday 30 November, 2018

Webis Holdings PLC

WatchandWager renews key California ADW License

RNS Number : 0380J
Webis Holdings PLC
30 November 2018
 

FOR IMMEDIATE RELEASE:

Webis Holdings PLC

("Webis" or the "Group")

WatchandWager renews key California multi-jurisdictional ADW license,

adding to growing array of approved or pending USA licenses

The board of Webis Holdings plc, the group specializing in pool wagering and the operators of WatchandWager and Cal Expo, the Californian harness track, is pleased to announce that its Advanced Deposit Wagering ("ADW") business, WatchandWager.com LLC ("WatchandWager") has received its license extension approval from the California Horse Racing Board ("CHRB").

The CHRB approved WatchandWager's application at its meeting at the Del Mar Thoroughbred Club on Thursday, 29th November.  This approval allows WatchandWager to continue to accept ADW wagers from California residents on horseracing worldwide. In common with all other operators, the extension is for three months, pending a full renewal hearing in February 2019, when the Board expects its license to be renewed to December 2020. CHRB's unanimous decision reflects WatchandWager's strong commitment to Californian racing and its operational of a physical racetrack at Cal Expo.

The California license is important to WatchandWager as the State has the largest population and possesses the fifth largest economy in the world.  In addition to granting WatchandWager access to this significant market, the license is strategically important for WatchandWager in light of the anticipated legislation legalizing sports betting in the State.  As an existing track operator in California, WatchandWager is in a strong position to offer sports betting if it is passed into law.

The license extension adds to the wide range of USA multi-jurisdictional and individual State licenses renewals detailed in the Webis Holdings plc Annual Report released this week.    

Ed Comins, President of WatchandWager commented: "We are pleased to receive the important license extension in California and look forward to working with them to increase taxes payable to the State and our statutory charitable contributions.  In addition to the tax revenue generated from wagering, WatchandWager strongly promotes the sport of horse racing in the State. We also look forward to growing our California market share while positioning WatchandWager within the fast-growing US-licensed sports betting market."

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For further information:

 

Webis Holdings plc Tel:  01624 639396

Denham Eke

 

Beaumont Cornish Limited Tel: 020 7628 3396

Roland Cornish/James Biddle 

 

 

 

 


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