This global on-line gaming group, announces that on 13 July 2010, the Company intends to release its trading update for the year ended 31 May 2010. The intended date of release will enable the Company to include commentary on trading trends during this summer's football World Cup. In view of the previous exceptional trading numbers, I would imagine [WEB] has been trading extremely well.
WEB's subsidiary, betinternet.com Limited ("betinternet") has just concluded a major new contract for the provision of enhanced content for the www.betinternet.com website. betinternet has signed a long-term contract with Enetpulse, the leading provider of live sports data and a subsidiary of IMG Media, a division of IMG Worldwide, the global sports, fashion and media company. The contract is for the provision of official real-time score feeds from the Association of Tennis Professionals (ATP) World Tour and its counterpart, the Women's Tennis Association (WTA) World Tour. These combined tours regularly exceed 100 million online and TV viewers. This service enables betinternet to match any In Play tennis offering and the augmented betting opportunities are now available on the website for global customer play. betinternet anticipates that the customer demand is such that In Play tennis could represent over 15% of the sportsbook's total turnover within 12 months. Garry Knowles, Managing Director of Webis said: "It is an important indicator of betinternet's recent strong performance that it is now in a position to partner with established and well respected gaming brands and I anticipate that these additional customer-facing services will greatly assist with attracting new customers to fuel further growth for our sportsbook operation
[WEB]'s wholly owned subsidiary, WatchandWager.com LLC ("WatchandWager"), based in San Francisco, California, has signed a major content licensing contract with Churchill Downs Incorporated ("Churchill Downs"). Churchill Downs is the NASDAQ quoted group, specialising in racing, casinos and on-line gaming, with its headquarters in Kentucky.
The contract allows WatchandWager to offer wagering and video streaming on all Churchill Downs controlled racing content with immediate effect. This deal includes the prestigious Kentucky Derby, known globally as the "Run for the Roses", to be run this Saturday 4th May at Churchill Downs.
The acquisition of new global content has been a cornerstone of WatchandWager's US development strategy. It also vindicates the recent publication of its Thoroughbred Racing Protection Bureau report, successfully demonstrating to the industry the emphasis on compliance, both within the US and internationally. It also reflects the benefit of the California licence and the bricks and mortar operation at Cal Expo racetrack. These initiatives have significantly improved WatchandWager's profile within the US online gaming industry and hence its ability to do transactions of this nature.
The Board believes the financial impact of adding Churchill Downs content and other global content will be significant. Wagering and streaming will be available via its new data enriched website, www.watchandwager.com and will both allow greater marketing opportunities and generate greater loyalty to the new site.
Ed Comins, Pari-Mutuel Operations Director of Webis said: "It is a great honour to have signed up with Churchill Downs, the acknowledged market leaders in our industry in the US. Allowing our players to watch and wager on events such as this Saturday's "Run for the Roses" will only help our platform. It is also a reflection of the benefits of our recent strategic investments in the US".
The Board of Webis, specializing in licensed pari-mutuel pool wagering and the operators of WatchandWager Cal Expo - the Californian harness track, welcomes Monday's landmark Supreme Court ruling which paves the way to legalizing wagering on sports in the United States, subject to individual State legislation.
While the ruling will not have an immediate impact on revenue levels until individual State legislation is in place, the Board considers the announcement as a positive boost for our US operations. Draft legislation is in preparation in up to seventeen US states, most importantly including California, which dwarfs the other states in terms of population and gross domestic product.
WatchandWager has been the licensed operator of WatchandWager Cal Expo Racing in Sacramento, California since 2014. It is one of the few Advance Deposit Wagering ("ADW") companies to conduct both live pari-mutuel racing and on-line wagering services. Significantly, California's draft Sports Betting Bill specifies that only land-based racetracks and casinos will be eligible for license applications. In the United States, WatchandWager holds ADW licenses not only for California, but also for North Dakota (providing regulated access to a total of 28 states), together with individual State licenses for New York, Kentucky, Colorado, Minnesota and Washington.
WatchandWager's President, Ed Comins comments: "We are very excited about the likely legalization of sports wagering in the United States. We have always believed that sports wagering would eventually come out of the shadows. As a reputable, licensed, and well-regulated company with a unique US land-based and on-line presence, WatchandWager can only benefit from this decision. As a result, we now seek partnerships with proven gaming software and other established operators in the anticipation that individual State legislation will receive approval."