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14.02.2005 14:34:00
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Youbet To Launch Horse Racing Entertainment Website in China; Internet
Youbet To Launch Horse Racing Entertainment Website in China; Internet Platform Aimed at Familiarizing Mainland Constituents with U.S. Sport Architecture also provides base for Q2 introduction of fully functional Spanish and Chinese language sites in the U.S.
Youbet.com (Nasdaq:UBET) said today that it plans to launch a horse racing entertainment website in March of this year exclusively for access by customers in Mainland China.
The new site, which will mirror aspects of the Company's highly successful U.S. web platform in Simplified Chinese, is intended to extend Youbet's brand awareness by exposing the world's most rapidly growing Internet population to the excitement of U.S. horse racing. It will feature live feeds from U.S. tracks selected primarily because their races run at times that align with daylight time zones in China.
Initially, Youbet will broadcast signals and program information in Chinese from the Meadowlands Race Track and Monmouth Park Racetrack in New Jersey; from Sam Houston Race Park in Texas; and from Delta Downs and Evangeline Downs Race Tracks in Louisiana.
Construction of the new URL also will produce the architecture needed to launch fully functional Spanish and Chinese language sites in the U.S., programs that Youbet is pursuing to respond to changing demographics in many of the country's racing centers. The Spanish and Chinese versions of Youbet.com will go live before the end of the second quarter of 2005.
"We're launching the China site to be in a position to capitalize on opportunities that could arise if the Mainland Chinese government acts to legalize aspects of online gaming," said Charles F. Champion, Youbet's CEO. "Clearly, if gaming laws are liberalized, it will create a large potential market for horse racing and Youbet."
Champion noted that there is evidence of substantial investment in horse race track development and equestrian centers on the Mainland. There is a new $50 million track operating in Beijing and another $180 million has been committed for a racing complex in populous Hubei Province (pop. 60.3 million) in east central China.
"A Chinese language entertainment site focused on horse racing is a logical, cost-efficient marketing vehicle for introducing our brand and the sport to government officials, gaming industry leaders, track owners and consumers," Champion said. "We will carefully monitor regulatory events in China to determine if future expansion of the site is warranted.
"The China website will be accessible only from the Mainland. Visitors will be asked to register for free trial memberships which entitle them to access races and related race information from tracks in the U.S. that agree to let Youbet carry their signal in China. There will be no wagering at the site.
"This is the best way for us to illustrate the power of our platform as a delivery channel for entertainment experiences and for the Chinese to gain an appreciation of U.S. horse racing products," Champion concluded.
Youbet.com is the largest Internet provider of thoroughbred, quarter horse and harness horse racing content in the United States. Members have the ability to watch and, in most states, the ability to wager on vast majority of all major domestic horse racing content via Youbet.com's exclusive closed-loop network. 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 Youbet.com TotalAccess(TM), an Oregon-based hub for the acceptance and placement of wagers. More information on Youbet can be found at www.Youbet.com.
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.
--30--CS/la*
Business Editors/Sports Editors/Entertainment Editors
WOODLAND HILLS, Calif.--(BUSINESS WIRE)--Feb. 14, 2005--
Youbet.com (Nasdaq:UBET) said today that it plans to launch a horse racing entertainment website in March of this year exclusively for access by customers in Mainland China.
The new site, which will mirror aspects of the Company's highly successful U.S. web platform in Simplified Chinese, is intended to extend Youbet's brand awareness by exposing the world's most rapidly growing Internet population to the excitement of U.S. horse racing. It will feature live feeds from U.S. tracks selected primarily because their races run at times that align with daylight time zones in China.
Initially, Youbet will broadcast signals and program information in Chinese from the Meadowlands Race Track and Monmouth Park Racetrack in New Jersey; from Sam Houston Race Park in Texas; and from Delta Downs and Evangeline Downs Race Tracks in Louisiana.
Construction of the new URL also will produce the architecture needed to launch fully functional Spanish and Chinese language sites in the U.S., programs that Youbet is pursuing to respond to changing demographics in many of the country's racing centers. The Spanish and Chinese versions of Youbet.com will go live before the end of the second quarter of 2005.
"We're launching the China site to be in a position to capitalize on opportunities that could arise if the Mainland Chinese government acts to legalize aspects of online gaming," said Charles F. Champion, Youbet's CEO. "Clearly, if gaming laws are liberalized, it will create a large potential market for horse racing and Youbet."
Champion noted that there is evidence of substantial investment in horse race track development and equestrian centers on the Mainland. There is a new $50 million track operating in Beijing and another $180 million has been committed for a racing complex in populous Hubei Province (pop. 60.3 million) in east central China.
"A Chinese language entertainment site focused on horse racing is a logical, cost-efficient marketing vehicle for introducing our brand and the sport to government officials, gaming industry leaders, track owners and consumers," Champion said. "We will carefully monitor regulatory events in China to determine if future expansion of the site is warranted.
"The China website will be accessible only from the Mainland. Visitors will be asked to register for free trial memberships which entitle them to access races and related race information from tracks in the U.S. that agree to let Youbet carry their signal in China. There will be no wagering at the site.
"This is the best way for us to illustrate the power of our platform as a delivery channel for entertainment experiences and for the Chinese to gain an appreciation of U.S. horse racing products," Champion concluded.
Youbet.com is the largest Internet provider of thoroughbred, quarter horse and harness horse racing content in the United States. Members have the ability to watch and, in most states, the ability to wager on vast majority of all major domestic horse racing content via Youbet.com's exclusive closed-loop network. 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 Youbet.com TotalAccess(TM), an Oregon-based hub for the acceptance and placement of wagers. More information on Youbet can be found at www.Youbet.com.
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.
--30--CS/la*
CONTACT: Youbet.com Daniel Tung, 818-668-2100 or Beacon Advisors Hud Englehart, 312-222-5801
KEYWORD: CALIFORNIA CHINA INTERNATIONAL ASIA PACIFIC INDUSTRY KEYWORD: CONSUMER/HOUSEHOLD INTERNET E-COMMERCE ADVERTISING/MARKETING SPORTS PRODUCT SOURCE: Youbet.com, Inc.
Copyright Business Wire 2005
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