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Webis secures loan to support California sports betting expansion

26th March 2020 9:45 am GMT

Shares in betting and racetrack operator Webis Holding soared by more than a third in London Thursday after the company secured a new term loan to support its US expansion.

The primary purpose of the $500,000 loan is to further develop and market its Watch&Wager subsidiary in California, with the company optimistic that sports betting legislation will soon be passed in the state.

Draft legislation (ACA16) introduced by Assemblymember Adam Gray and Senator Bill Dodd last [...]

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