Webis Holdings’ advanced deposit wagering (ADW) business WatchandWager has renewed its license with the California Horse Racing Board to conduct harness racing at the Cal Expo racetrack in Sacramento.
The licence runs from the start of the 2019-20 harness racing season on 9 November until the 47-race season ends on 25 April, 2020.
The company – which has operated Cal Expo, California’s only harness racetrack, since 2012 – also noted that it is in advanced negotiations with Cal Expo to secure a significant extension of the contract to operate racing at the track.
WatchandWager has also recently renewed its parimutuel wagering licenses to accept wagers from residents of New York and Washington, and is currently in the process of renewing its parimutuel license in Kentucky.
WatchandWager president Ed Comins said he believes the company will receive the remaining licences in the near future.
“I am confident that all applicable licenses will be renewed for WatchandWager as the company takes regulatory compliance as its highest priority,” Comins said.
“We are pleased to renew our investment in our licenses. We believe that they will reap significant dividends for WatchandWager as more states move to authorize sports wagering in the near-future.”
Turnover for the first half of Webis’ financial year to 30 November, 2018 fell sharply to $5.4m after the operator lost a large racing syndicate during the period, due to WatchandWager failing to resolve a commercial dispute. This saw it forced to refund the syndicate members’ account balances, totalling around $10m.