Webis Holdings PLC WatchandWager renews key California license (8091Q)
22 February 2019 - 6:00PM
UK Regulatory
TIDMWEB
RNS Number : 8091Q
Webis Holdings PLC
22 February 2019
Webis Holdings PLC
("Webis" or the "Group")
WatchandWager renews key California license for 2019-2021
Strategic ADW multi-jurisdictional license approved
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, further to the three month
extension granted at the end of November 2018, its Advanced Deposit
Wagering ("ADW") business, WatchandWager.com LLC ("WatchandWager")
received its two-year license approval from the California Horse
Racing Board ("CHRB") on 21(st) February 2019 in California.
The two-year ADW license renewal from the CHRB is for the years
2019-2021, and it allows WatchandWager to continue to accept online
pari-mutuel wagers from residents of California. With over 39
million residents and ranked the fifth largest economy in the
world, California is an increasingly important market for
WatchandWager, both strategically and in terms of player numbers.
Its long tradition as a premium center of horse racing makes it a
rich source of horse players, and potentially sports bettors.
The two-year license renewal from the CHRB is strategically
important to WatchandWager as the state legislature considers bills
legalizing sports wagering in the state of California. The current
Adam Gray (Democrat) sponsored Sports Betting Bill is now
approaching the Committee stage, in Sacramento. Whilst there will
be a process to go through in California, it seems highly likely
that Sports Betting will be approved, given the initial success in
other states and the tax benefits from regulated gaming. When
approved, WatchandWager's status as a licensed track operator and
racing association in the state, would allow it to be one of the
few companies to legally accept sports wagers from California
residents, both on-line and at the Cal Expo track facility.
Ed Comins, President of WatchandWager commented: "We are pleased
to receive this license renewal from the California Horse Racing
Board for WatchandWager for the next two years. These are very
dynamic times in the racing and gaming industry in the USA, and we
look forward to being ready to offer sports wagering to California
residents as it is approved by the legislature. Our license to
accept on-line wagers in California and at our physical racetrack
operation, are a tremendous asset to the company"
Ends
For further information:
Webis Holdings plc Tel: 01624 639396 Beaumont Cornish Limited Tel: 020 7628 3396
Denham Eke Roland Cornish/James Biddle
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END
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