Wednesday 13th January, 2016
WEBIS HOLDINGS PLC
(“Webis” or “the Group”)
WatchandWager.com LLC signs a three year contract with
Hong Kong Jockey Club Horse Race Betting Limited
Webis is pleased to announce that its subsidiary, WatchandWager.com LLC (“WatchandWager”), has signed a further three year contract with the Hong Kong Jockey Club Horse Race Betting Limited, a wholly owned subsidiary of the Hong Kong Jockey Club (“HKJC”), to provide access to the HKJC pari-mutuel pools. Headquartered in San Francisco, California, WatchandWager conducts US licensed advanced deposit pool wagering and racetrack operations.
WatchandWager was the first US based wagering operator to link directly into the HKJC pools during the 2013/14 racing season, and has continued as a partner this season. The operation has proved to be a success both technically and commercially for both parties and the new contract extends to the end of the 2017/18 racing season. As recently reported, the connection to HKJC races was a significant factor in the continued growth in turnover of the WatchandWager operation.
Known for its massive wagering pools and elite level of racing, the HKJC is regarded as one of the premier centers of horse racing in the world. The 131-year-old HKJC had a record handle during 2014-15, with US$13.93 billion being wagered on races at Sha Tin Racecourse and Happy Valley Racecourse last season. The HKJC is especially popular among international horseplayers, who wagered US$340 million into the HKJC pools during the same period, with WatchandWager contributing significantly to that amount.
“This is a groundbreaking deal that looks set to significantly improve WatchandWager’s performance long term as well as likely increase the growth of international money into the HKJC,” said Ed Comins, Managing Director of Webis. “It is an honour for WatchandWager to renew its partnership with the HKJC and to be able to offer world class racing to our customers. It is also a testament to our level of compliance and reliability in the regulated US market that we were approved for this extension. ”