Youbet.com, Inc., announced Monday that it completed its previously announced acquisition of privately-held United Tote Company for approximately $31.9 million, which is $2 million less than the previously announced purchase price.
TV Games Network, a shareholder in Youbet.com with an option to buy a majority interest in the company, has filed a lawsuit against Youbet for proposed changes to voting and term limits for its board of directors.
The value of Youbet.com's stock fell 14.1% Monday after the company released a quarterly earnings report that was below analysts' forecasts.
Youbet.com, Inc., the online live event and wagering company, announced Thursday that first quarter 2003 marked the company's fourth consecutive quarter of record growth.
The per-share price of stock in Youbet.com soared in trading Monday on the NASD exchange, rising above the stock's previous 52-week high.
Youbet.com reported Monday that revenues rose 59% and operating expenses increased 32% during the first quarter of fiscal year 2002 and announced the election of Larry Lucas as chairman of the board.
