REG - Webis Holdings PLC - Strategic multi-jurisdictional license approved

Webis HoldingsAnnouncement

23/11/2022 07:00

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RNS Number : 2771H  Webis Holdings PLC  23 November 2022

Webis Holdings plc

("Webis" or the "Group")

23(rd) November 2022

WatchandWager renews key California license

Strategic multi-jurisdictional license approved, plus many other states

The board of Webis, the Group specialising in pool wagering and the operators
of WatchandWager Cal Expo, the Californian harness track, is pleased to
announce that its Advanced Deposit Wagering ("ADW") business,
WatchandWager.com LLC ("WatchandWager") received its two-year license approval
from the California Horse Racing Board ("CHRB") on Tuesday 22nd November.

 

The ADW license renewal from the CHRB is for the years 2023-2024, and it
allows WatchandWager to continue to accept online pari-mutuel wagers from
residents of California on its range of global content.  The license renewal
from the CHRB is strategically important to the company, not only for its
access to the biggest population in the United States and one of the largest
economies in the world, but also for the potential of offering sports betting
to California residents when the state legislature passes this into law.  As
shareholders are aware, the license sits alongside our long-term lease of the
Cal Expo racetrack, adding an important physical, as well as on-line, presence
in the state.

 

In addition to the California license renewal, WatchandWager executives have
renewed, or are in the process of license renewals, in Colorado, Kentucky,
Minnesota, New York, North Dakota, and Washington.  The company does not
foresee any expected issues that would delay or prevent them from being
approved.

 

The California license renewal coincides with the start of the season of
harness racing at WatchandWager Cal Expo, which commenced on Friday, 18th
November.  WatchandWager has operated a harness racing meet at the Sacramento
track since 2012, and the company has an agreement with the track's landlord
for racing through the year 2030.  The only harness racing track in
California, WatchandWager Cal Expo will host racing through to 30th April
2023.

 

 Ed Comins, President of WatchandWager, commented:

 

"We are pleased to receive this key license renewal from the CHRB for
WatchandWager.  Both our ADW license and our racing license are key assets
for WatchandWager, reaffirming the company's presence in in a key state, and
they reflect WatchandWager's strong commitment to racing and to regulatory
compliance.  We look forward to growing the WatchandWager brand in
California, and the strategic advantages that it provides."

 

For further information:

 

Webis Holdings plc                        Tel:
       01624 639396

Denham Eke

 

Beaumont Cornish Limited         Tel:        020 7628 3396

Roland Cornish/James Biddle

 

This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) No. 596/2014, as it forms part of UK Domestic
Law by virtue of the European Union (Withdrawal) Act 2018. Upon the
publication of this announcement, this inside information is now considered to
be in the public domain.

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