Shares in Webis Holding fell by more than 25 per cent in London Friday after the company revealed that it had refunded US$10m from a syndicate’s player balances following a commercial dispute.

Webis said that its US subsidiary WatchandWager.com had no option other than to assume, with immediate effect, the cessation of wagering services to a syndicate, which cannot be named due to confidentiality restrictions.

As a result WatchandWager has refunded the syndicate's player balances, totaling approximately $10m, and confirmed that in the absence of any new deposit funding, under regulation, no further wagers can be accepted from the syndicate.

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