Webis Holdings PLC WatchandWager renews key California license (9473F)
November 20 2020 - 2:00AM
UK Regulatory
TIDMWEB
RNS Number : 9473F
Webis Holdings PLC
20 November 2020
Webis Holdings PLC
20 November 2020
WEBIS HOLDINGS PLC
("Webis" or the "Group")
WatchandWager renews key California license
The board of Webis, the Group specializing in pool wagering and
the operators of WatchandWager Cal Expo, the Californian harness
track, is pleased to announce that its Advanced Deposit Wagering
("ADW") business, WatchandWager.com LLC ("WatchandWager") received
its two-year license approval from the California Horse Racing
Board ("CHRB") on 19 November 2020.
The two-year ADW license renewal from the CHRB is for the years
2021-2022, and it allows WatchandWager to continue to accept online
pari-mutuel wagers from residents of California on its range of
global content. The license renewal from the CHRB is strategically
important to the Company, not only for its access to the biggest
population in the United States and one of the largest economies in
the world, but also for the potential of offering sports betting to
California residents when the state legislature passes this into
law. As shareholders are aware, the license sits alongside our
long-term lease of the Cal Expo racetrack, adding an important
physical, as well as on-line, presence in the state.
In addition to the California license renewal, WatchandWager
executives have also renewed, or are in the process of license
renewals, in Colorado, Kentucky, Minnesota, New York, North Dakota,
and Washington. The Company does not foresee any expected issues
that would delay or prevent them from being approved.
Ed Comins, President of WatchandWager, commented:
"We are pleased to receive this key license renewal from the
California Horse Racing Board for WatchandWager. We believe that
the tax, revenue, and jobs generated from this license will have an
important benefit to the state of California, especially in light
of the economic difficulties caused by the California wildfires and
the COVID-19 virus. With this important license and our physical
presence at Cal Expo in Sacramento, we believe that the passage of
legalized sports betting will result in even more new jobs, duties,
and tax revenue to the state. WatchandWager stands ready to be an
active partner in supporting not only the state's racing and gaming
industry, but also supporting the recovery of the state as a
whole."
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: +44 (0) 1624 639396 Tel: +44 (0) 20 7628 3396
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