MikeDee
21st May 2001, 09:06.59 AM
Looks like UBET, TVG, CD Inc and NTRA have kissed and made up. UBET customers will be able to bet CD inc Tracks (CD, CRC, HOL, AP) on line. If this happens can NYRA tracks be far behind?
copied the following from another board:
Gemstar and Youbet.com make betting, content deal
WOODLAND HILLS, Calif., May 21 (Reuters) - Online betting company Youbet.com Inc. (NasdaqNM:UBET - news) said Monday it formed a strategic relationship with Gemstar-TV Guide (NasdaqNM:GMST - news) unit TVG, an interactive horse racing cable network.
The agreement, which could lead to Gemstar taking a majority stake in Youbet.com, gives Youbet.com a non-exclusive license to utilize TVG's betting technology for online and automated telephone applications and a non-exclusive right to video stream and online wagers on horse racing from most of TVG's exclusive partner racetracks.
This relationship substantially widens Youbet.com's market penetration, and provides Youbet Network subscribers online wagering access to major racetracks.
Under the terms of the deal, Youbet.com will pay TVG fees based on the percentage of bets.
Youbet.com has also issued TVG warrants to purchase up to 19.9 percent of the number of Youbet.com common shares outstanding, exercisable within the first 36 months of the agreement for one cent per share.
Youbet.com will also issue TVG a warrant to purchase up to 51 percent of Youbet.com common shares outstanding on the date the warrant is exercised, subject to Youbet.com shareholder approval.
If the issuance of the second warrant is not approved, TVG will be entitled to receive about 5.5 percent of the wagers generated by Youbet.com from betting activity at all Youbet Network tracks.
Shares of Gemstar-TV Guide closed Friday at $39.22, Youbet.com closed at 75 cents per share.
copied the following from another board:
Gemstar and Youbet.com make betting, content deal
WOODLAND HILLS, Calif., May 21 (Reuters) - Online betting company Youbet.com Inc. (NasdaqNM:UBET - news) said Monday it formed a strategic relationship with Gemstar-TV Guide (NasdaqNM:GMST - news) unit TVG, an interactive horse racing cable network.
The agreement, which could lead to Gemstar taking a majority stake in Youbet.com, gives Youbet.com a non-exclusive license to utilize TVG's betting technology for online and automated telephone applications and a non-exclusive right to video stream and online wagers on horse racing from most of TVG's exclusive partner racetracks.
This relationship substantially widens Youbet.com's market penetration, and provides Youbet Network subscribers online wagering access to major racetracks.
Under the terms of the deal, Youbet.com will pay TVG fees based on the percentage of bets.
Youbet.com has also issued TVG warrants to purchase up to 19.9 percent of the number of Youbet.com common shares outstanding, exercisable within the first 36 months of the agreement for one cent per share.
Youbet.com will also issue TVG a warrant to purchase up to 51 percent of Youbet.com common shares outstanding on the date the warrant is exercised, subject to Youbet.com shareholder approval.
If the issuance of the second warrant is not approved, TVG will be entitled to receive about 5.5 percent of the wagers generated by Youbet.com from betting activity at all Youbet Network tracks.
Shares of Gemstar-TV Guide closed Friday at $39.22, Youbet.com closed at 75 cents per share.