Webis Holdings PLC WatchandWager renews key California ADW License (0380J)
November 30 2018 - 2:43AM
UK Regulatory
TIDMWEB
RNS Number : 0380J
Webis Holdings PLC
30 November 2018
FOR IMMEDIATE RELEASE:
Webis Holdings PLC
("Webis" or the "Group")
WatchandWager renews key California multi-jurisdictional ADW
license,
adding to growing array of approved or pending USA licenses
The board of Webis Holdings plc, the group specializing in pool
wagering and the operators of WatchandWager and Cal Expo, the
Californian harness track, is pleased to announce that its Advanced
Deposit Wagering ("ADW") business, WatchandWager.com LLC
("WatchandWager") has received its license extension approval from
the California Horse Racing Board ("CHRB").
The CHRB approved WatchandWager's application at its meeting at
the Del Mar Thoroughbred Club on Thursday, 29(th) November. This
approval allows WatchandWager to continue to accept ADW wagers from
California residents on horseracing worldwide. In common with all
other operators, the extension is for three months, pending a full
renewal hearing in February 2019, when the Board expects its
license to be renewed to December 2020. CHRB's unanimous decision
reflects WatchandWager's strong commitment to Californian racing
and its operational of a physical racetrack at Cal Expo.
The California license is important to WatchandWager as the
State has the largest population and possesses the fifth largest
economy in the world. In addition to granting WatchandWager access
to this significant market, the license is strategically important
for WatchandWager in light of the anticipated legislation
legalizing sports betting in the State. As an existing track
operator in California, WatchandWager is in a strong position to
offer sports betting if it is passed into law.
The license extension adds to the wide range of USA
multi-jurisdictional and individual State licenses renewals
detailed in the Webis Holdings plc Annual Report released this
week.
Ed Comins, President of WatchandWager commented: "We are pleased
to receive the important license extension in California and look
forward to working with them to increase taxes payable to the State
and our statutory charitable contributions. In addition to the tax
revenue generated from wagering, WatchandWager strongly promotes
the sport of horse racing in the State. We also look forward to
growing our California market share while positioning WatchandWager
within the fast-growing US-licensed sports betting market."
Ends
For further information:
Webis Holdings plc Tel: 01624 639396 Beaumont Cornish Limited Tel: 020 7628 3396
Denham Eke Roland Cornish/James Biddle
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
MSCVBLBXVFFXFBX
(END) Dow Jones Newswires
November 30, 2018 03:43 ET (08:43 GMT)
Webis (LSE:WEB)
Historical Stock Chart
From Apr 2024 to May 2024
Webis (LSE:WEB)
Historical Stock Chart
From May 2023 to May 2024