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Youbet.com Reports First Annual Profit Since 2005

12th March 2010 1:54 pm GMT

Ahead of its planned merger with rival Churchill Downs, America's horse racing content and advance-deposit-wagering provider Youbet.com has reported a 2% increase in total revenues to $111.4 million for the year ended December 31st 2009, which coupled with a 26% reduction in operating expenses has led the company to its first annual profit in four years.

Revenues from the company's Youbet Express online wagering service increased by 6% year-on-year to $90.7 million, from a handle of [...]

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