Youbet.com Inc. must pay about $1.3 million to its license partner TVG for underpayments during a three-year content agreement that ended March 31, 2005, an arbiter ruled Nov. 16. TVG initially claimed it was owed $5.8 million.
Youbet.com reported net income of $1.5 million, or 4 cents per diluted share, for the fourth quarter that ended Dec. 31, 2005.
Youbet.com announced Monday that it has filed a $50 million universal shelf registration statement on Form S-3 with the Securities and Exchange Commission.
Youbet.com and CBS SportsLine.com announced an agreement May 3 making Youbet the exclusive horseracing content provider for the Internet sports media Web site.
Youbet.com has withdrawn its proposal to acquire all of the issued and outstanding shares of American Wagering Inc. for $12 million, the company announced Friday.
Hall of Fame trainer D. Wayne Lukas, who has won a record 17 Breeders Cup races in his career, signed on as a spokesman for the home wagering company Youbet.com on Oct. 26.
Youbet.com, Inc., a leading online wagering company for horseracing, named David B. Bonfield and Jeff True as regional general managers of the company's new business development program.
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