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Youbet.com to Offer Virtual Horse Racing Online

Discussion in 'Casino Industry Discussion' started by mary, Jun 15, 2004.

    Jun 15, 2004
  1. mary

    mary Dormant account

    Press Release Source: Youbet.com, Inc.


    Youbet.com to Offer Virtual Horse Racing Online
    Tuesday June 15, 2:14 pm ET
    Agreement with UK's VIS iTV Brings Popular I-Race Game to U.S. Market


    WOODLAND HILLS, Calif.--(BUSINESS WIRE)--June 15, 2004--Youbet.com, Inc. (Nasdaq:UBET - News) said today that it has signed a multiyear agreement with VIS iTV to become the U.S. platform for the launch of I-Race(TM), the Scottish company's highly popular virtual horse management and race entry game. With I-Race(TM), Youbet fans will be able to own, train and race a stable of virtual horses.

    The new game will be available at Youbet.com beginning in the first quarter of 2005. Wagering on the races will not be part of the initial offering.

    According to CEO Charles F. Champion, the I-Race(TM) agreement is in line with Youbet's content development strategy. "We want to give our customers the best racing content available anywhere," he said, "and I-Race(TM) has no peer when it comes to the world of virtual racing."

    I-Race(TM) will run on Youbet's industry leading online technology. Champion said that the result is 24/7 racing content that seems certain to both satisfy race enthusiasts and attract new fans to the sport.

    "Virtual horse ownership games could be to racing what fantasy leagues have become to professional football and baseball," he said. "They sustain interest in and out of season. Virtual racing games could have the same effect on horse racing on and off line."

    VIS iTV CEO Simon J. Grieve said that the U.S. market for virtual horseracing will be substantial and that the agreement with Youbet will help establish a strong foothold among American racing fans. "I-Race(TM) content coupled with the strength of Youbet's platform will deliver stunning levels of realism...plus complete control over timing and format," he said.

    Once it is up and running, Youbet customers will have access to unbroken, 24-hour-a-day racing content with highly enriched graphics. Broadcast from Scotland, I-Race(TM) is the world's first 100% digitally generated TV channel.

    About Youbet.com., Inc.

    Youbet.com is the largest Internet provider of thoroughbred, quarter horse and harness racing content in the United States, as measured by handle data published by the Oregon Racing Commission. Members have the ability to watch and, in most states, the ability to wager on the widest variety of horse racing content available via Youbet.com's website.

    Youbet.com members enjoy features that include commingled track pools, live audio/video, up-to-the-minute track information, real-time wagering information, phone wagering and value-added handicapping products.

    Youbet.com is an official online wagering platform of Churchill Downs Incorporated and the Kentucky Derby. Youbet.com operates TotalAccess(SM), an Oregon-based hub for the acceptance and placement of wagers. More information on Youbet.com can be found at You must register/login in order to see the link..

    About VIS iTV

    VIS iTV Ltd is a 50/50 joint venture company between Flextech Television Ltd and VIS entertainment Ltd. VIS iTV was formed in 2000 to design, develop and commission entertainment content for the broadband and Interactive Digital Television markets. I-Race is a state-of-the-art virtual horseracing simulation that can be adapted for delivery over any platform. In May 2004, the acquisition of VIS entertainment by BAM! Entertainment Inc. (Nasdaq:BFUNC - News) was completed unconditionally.

    Forward-Looking Statements

    This press release contains certain forward-looking statements. Statements containing expressions such as "may," "will," "project," "might," "expect," "believe," "anticipate," "intend," "could," "would," "estimate," potential," "continue" or "pursue," or the negative or other variations thereof or comparable terminology used in Youbet's press releases and in its reports filed with the Securities and Exchange Commission are intended to identify forward-looking statements. These forward-looking statements, which are included in accordance with the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995, may involve known and unknown risks, uncertainties and other factors that may cause Youbet's actual results and performance in future periods to be materially different from any future results or performance suggested by the forward-looking statements in this press release. Although Youbet believes the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that actual results will not differ materially from these expectations. From time to time, these risks, uncertainties and other factors are discussed in the Company's filings with the Securities and Exchange Commission. Such factors include, without limitation, the following: the timely development and market acceptance of new products and technologies; our ability to secure financing on terms acceptable to us; our ability to control operating expenses; increased competition in the advance deposit wagering business; a decline in the public acceptance of wagering; wagering ceasing to be approved in jurisdictions where Youbet currently operates; the limitation, conditioning or suspension of any of Youbet's licenses; increases in or new taxes imposed on wagering revenues; loss or retirement of key executives; and a decline in the general economy. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date of this press release. Youbet does not undertake, and specifically disclaims any obligation, to publicly release the result of any revisions that may be made to any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements.

    Note: You Bet is a registered trademark of Youbet.com, Inc. All other brands and products referenced herein are the trademarks or registered trademarks of their respective holders. To open an account, please visit You must register/login in order to see the link. or call Member Services toll free at 1-888-YOUBET8 (968-2388).



    --------------------------------------------------------------------------------
    Contact:
    Youbet.com
    Gary Sproule, 818-668-2100



    --------------------------------------------------------------------------------
    Source: Youbet.com, Inc.
     

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