Webis Holdings PLC WatchandWager - New York State license approved (2792H)
June 06 2017 - 5:48AM
UK Regulatory
TIDMWEB
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, 31(st) 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 10(th)
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
END
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