Webis Holdings PLC WatchandWager extends Racetrack contract (5551V)
04 December 2019 - 6:00PM
UK Regulatory
TIDMWEB
RNS Number : 5551V
Webis Holdings PLC
04 December 2019
4(th) December 2019
Webis Holdings plc
("Webis")
WatchandWager given long-term extension of California Racetrack
contract
The board of Webis, the Group specialising in pool wagering and
the operators of Cal Expo, the Californian harness track, is
pleased to announce that on Tuesday 3(rd) December its US-based
Advanced Deposit Wagering business, WatchandWager.com LLC
("WatchandWager") signed an extension with the Board of Directors
of the California Exposition & State Fair in Sacramento to
continue its Cal Expo Harness Racing operations through to 1 May
2025.
The extension reflects the good standing that WatchandWager
holds with the track landlord and the regulators in California. The
renewal also includes a clause to extend the lease until 2030,
should both parties wish to pursue it. The renewal is especially
significant given the recent positive momentum behind the
introduction of regulated sports betting in the Golden State.
Recent initiatives to drive this forward include California
racetracks as being eligible to be licensed for sports betting.
WatchandWager has been operating live racing at Cal Expo since
2012. The 2019-2020 Cal Expo Harness Racing season began on 9
November 2019 and will run 47 race dates on Fridays and Saturdays
through to Saturday, 25 April 2020. Cal Expo is the only harness
racing racetrack in California, and WatchandWager's operation of it
is vital to supporting the breed and horsemen in the State. In
addition to the racing, WatchandWager makes financial contributions
to the California horse industry to promote breeding and racing in
the state. Harness Racing at Cal Expo also enjoys an excellent
health and safety record for many years, with the welfare of the
horses and all participants of upmost importance to the Board and
Management at Cal Expo.
The initial performance of WatchandWager Cal Expo has been
slightly above average through the first weekends of live racing
this season. With a current horse population of 290 Standardbreds
stabled on the backstretch, it is a strong sign of a successful
season featuring fully filled races, competitive fields, and many
wagering opportunities for harness racing fans.
WatchandWager President and Webis CEO, Ed Comins, stated that
the extension approval is a significant step for the long-term
future of both Cal Expo and WatchandWager:
"This approval is a significant milestone in WatchandWager's
license presence in the US and the state of California," Comins
said. "We believe that WatchandWager will continue to run safe and
successful race meetings at Cal Expo, which is good for both
harness racing fans and the horsemen of the state. At the same
time, our commitment to Cal Expo and racing ensure that
WatchandWager will remain a major stakeholder in the positive
expansion of gambling in the state of California for many years to
come."
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: 01624 639396 Tel: 020 7628 3396
Ends
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END
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