|VIS iTV signs deal with leading US online wagering company -|
I-Race virtual horseracing to launch on Youbet.com
VIS iTV Ltd today announced the signing of a multi-year agreement with online wagering company Youbet.com that will see its I-Race virtual horse management and race entry game launched into the US market.
Youbet.com's members already have the ability to watch and, in most states, the ability to wager on virtually 100% of all major US horse racing content. With the addition of I-Race, they will now also be able to own, train and race a stable of virtual horses. Wagering on I-Race will not be offered at launch.
Under the agreement both parties will also jointly explore additional platform, product and territory opportunities. Simon J Grieve, Chief Executive Officer, VIS iTV said: 'It's very rewarding to be able to launch the full functionality of the I-Race product with such a strong and expert partner as Youbet.com. We both believe that the US
market for virtual horseracing will be substantial. With I-Race being broadcast to Youbet's customers from Scotland I think we are also demonstrating our ability to penetrate markets worldwide.'
Chuck Champion, Chairman and CEO, Youbet.com added: 'Our goal is to continuously search for and to provide the best racing content and entertainment to our customers. The VIS iTV product meets those criteria. VIS iTV is clearly best of class in our opinion and therefore, appropriate
for inclusion to our site. We believe offering a virtual racing product with this level of graphic and gaming features adds to the overall entertainment experience of our customers. We are looking forward to growing this new
business together both domestically and internationally.'
VIS iTV Ltd was advised during negotiations by The Bellwether Group LLC, a Los Angeles based Strategic Merchant Bank.