Webis Holdings PLC Webis welcomes US Supreme Court decision (1925O)
May 16 2018 - 2:00AM
UK Regulatory
TIDMWEB
RNS Number : 1925O
Webis Holdings PLC
16 May 2018
7.00am 16 May 2018
Webis Holdings plc
("Webis")
Webis welcomes US Supreme Court decision
enabling Sports Wagering
US subsidiary WatchandWager, well positioned with US licensed
racetrack and gaming infrastructure, actively seeks partners in
anticipation of State legislation approvals
The Board of Webis, specializing in licensed pari-mutuel pool
wagering and the operators of WatchandWager Cal Expo - the
Californian harness track, welcomes Monday's landmark Supreme Court
ruling which paves the way to legalizing wagering on sports in the
United States, subject to individual State legislation.
While the ruling will not have an immediate impact on revenue
levels until individual State legislation is in place, the Board
considers the announcement as a positive boost for our US
operations. Draft legislation is in preparation in up to seventeen
US states, most importantly including California, which dwarfs the
other states in terms of population and gross domestic product.
WatchandWager has been the licensed operator of WatchandWager
Cal Expo Racing in Sacramento, California since 2014. It is one of
the few Advance Deposit Wagering ("ADW") companies to conduct both
live pari-mutuel racing and on-line wagering services.
Significantly, California's draft Sports Betting Bill specifies
that only land-based racetracks and casinos will be eligible for
license applications. In the United States, WatchandWager holds ADW
licenses not only for California, but also for North Dakota
(providing regulated access to a total of 28 states), together with
individual State licenses for New York, Kentucky, Colorado,
Minnesota and Washington.
WatchandWager's President, Ed Comins comments: "We are very
excited about the likely legalization of sports wagering in the
United States. We have always believed that sports wagering would
eventually come out of the shadows. As a reputable, licensed, and
well-regulated company with a unique US land-based and on-line
presence, WatchandWager can only benefit from this decision. As a
result, we now seek partnerships with proven gaming software and
other established operators in the anticipation that individual
State legislation will receive approval."
Ends
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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