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WatchandWager secures California pari-mutuel license extension

23rd November 2020 8:15 am GMT

London-listed betting and racetrack operator Webis Holding has secured a two-year licence extension for its advanced deposit wagering business WatchandWager.com in California.

The licence renewal by the California Horse Racing Board (CHRB) allows WatchandWager to continue to accept online pari-mutuel wagers from state residents on its range of global racing content.

“We are pleased to receive this key license renewal from the California Horse Racing Board for WatchandWager,” said WatchandWager president Ed Comins. “We believe that the tax, revenue, and jobs generated from this license will have an important benefit to the state of California, especially in light of the economic difficulties caused by the California wildfires and the COVID-19 virus.

“With this important license and our physical presence at Cal Expo in Sacramento, we believe that the passage of legalized sports betting will result in even more new jobs, duties, and tax revenue to the state. WatchandWager stands ready to be an active partner in supporting not only the state's racing and gaming industry, but also supporting the recovery of the state as a whole.”

In addition to California, WatchandWager is also in the process of securing licence renewals in Colorado, Kentucky, Minnesota, New York, North Dakota, and Washington.

Shares in Webis Holding plc (LSE:WEBIS) were trading down 5.88 per cent at 1.60 pence per share in London Monday morning.

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