Possibility of California online gaming boosts interst in Webis
News on 4 Jun 2013
News on 4 Jun 2013
According to reports Tuesday in the UK newspaper The Telegraph, online gambling company Webis Holdings has attracted the favourable attention of top UK investment guru Jim Mellon – dubbed by many as Britain’s Warren Buffet equivalent.
Isle of Man-based Webis Holdings is apparently preparing to apply for an online gaming licence for California, which would allow betting on horse and greyhound racing under the Webis Watch and Wager brand.
The Telegraph reports that last November, Webis signed a five-year lease to operate harness racing at the Cal Expo racecourse in Sacramento, California, since operating a racetrack is a condition for getting an online gaming licence in the US state.
And in February this year, the AIM-listed company announced it had set aside GBP 800,000 for “licence acquisitions”.
Mellon told the newspaper: “This is my favourite speculative play at the moment,” and revealed that he had installed his math and diplomacy-skilled father on the board of directors of the GBP 20 million market capitalisation company.
