WatchandWager extends license in California

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The California Horse Racing Board (CHRB) has extended WatchandWager’s advanced deposit wagering (ADW) license for a further three months. The company is confident of a license renewal in the near future.

The company spokesperson said that interim renewal is “strategically important […] in light of the anticipated legislation legalising sports betting in the state.”

The license extension comes at a good time for the company, as it has just terminated a partnership with a syndicate which would lead to an US$800k gross margin reduction for the current financial year.

The spokesperson added: “The company stands very well positioned in particular in California, a gaming market that will dwarf other USA states in size when regulated.”

Source: Latest News on European Gaming Media Network