The agreement between WatchandWager and the California Exposition and State Fair has been extended until May 2030, five years beyond the original expiration date of May 2025. This extension solidifies WatchandWager’s position as the live racing operator at the Cal Expo venue since 2012.
With key commercial terms already agreed upon, the contract renewal is expected to be a mere formality. As WatchandWager is already approved by the California Horse Racing Board, no further regulatory approval is needed for the extension.
Webis, the parent company of WatchandWager, is optimistic about the profitability and quality of racing at the venue, highlighting the excellent health and safety record for both horses and humans. This extension secures WatchandWager’s licensed presence in California for a significant period, emphasizing their commitment to the state amidst potential sports betting legalization.
The extension announcement comes on the heels of Webis reporting a slight net loss and a decrease in revenue for the first half of the 2022 financial year. Despite these challenges, WatchandWager remains focused on enhancing the overall racing experience at the venue.
