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WEB Webis Holdings Plc

1.10
0.00 (0.00%)
19 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Webis Holdings Plc LSE:WEB London Ordinary Share GB0004126271 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 1.10 1.00 1.20 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Cmp Processing,data Prep Svc 50.02M -745k -0.0019 -5.79 4.33M

Webis Holdings PLC WatchandWager renews key California ADW License (0380J)

30/11/2018 8:43am

UK Regulatory


Webis (LSE:WEB)
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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

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(END) Dow Jones Newswires

November 30, 2018 03:43 ET (08:43 GMT)

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