Youbet

News, Articles, Videos and other content about Youbet

Youbet.com Continues to Ride Growth Trend

Youbet.com, the online wagering company based in California, continued its growth trend in the third quarter of 2004 with income of $791,085, compared with a loss of $617,853 for the same period in 2003.

Youbet.com Turns Profitable in First Quarter

  • News

Youbet.com turned a profit for the first time in its history during the first quarter of 2004. The account-wagering company, which lost $1.2 million during the first quarter of 2003, had a net profit of $15,111 during this year's corresponding session.

Xpressbet Handle Falls 18% In California

Magna Entertainment Corp. may have some explaining to do at this month's California Horse Racing Board meeting as handle for its account-wagering service, Xpressbet, suffered an 18.4% decline among California residents during the year's first two months.

Youbet, TVG End Proxy and Warrant Dispute

  • News

Youbet.com has agreed to pay TV Games Network $725,000 and withdraw its proposed staggered board and supermajority voting proxy material in exchange for TVG dropping all pending litigation and related arbitration.

Youbet Continues Strong Performance in Fourth Quarter

  • News

Youbet.com reported Thursday the fourth quarter of 2003 provided the eight straight quarter of net revenue growth for the company, though it continues to operate at a loss. Youbet also generated year-over-year increases in handle, net revenue, and earnings before taxes, depreciation, and amortization (EBITDA).

TVG, Youbet Reach Agreement in Dispute

  • News


Youbet.com and minority shareholder TV Games Network have settled an ongoing dispute by agreeing to delay court proceedings and arbitration hearings over proxy materials sent to Youbet shareholders last fall.

Another Strong Quarter for Youbet

  • News

Youbet.comcontinued strong gains in its online horse race wagering business during the third quarter of 2003, marking the sixth consecutive quarter in which the company has produced net revenue growth. Youbet also said it substantially increased operating capacity during the quarter.

Youbet.com Names Regional Managers

  • News

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.

TVG Wins Court Ruling Against Youbet

To comply with a court order handed down Thursday, Youbet.com will delay its annual shareholders meeting so it can provide information on the ramifications of a majority buyout by Gemstar Inc., parent company of Television Games Network.

TVG Sues Youbet to Protect Voting Interest

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.

Youbet Settles Wood Trifecta Dispute

  • News

Youbet.com will award "promotional credits" to settle a dispute with players who had winning trifecta bets from the April 12 Wood Memorial deducted from their accounts due to a tote system snafu.

Youbet.com Reports Record Monthly Handle

  • News

Online wagering firm Youbet.com announced Thursday that monthly handle for January totaled more than $20 million, representing the largest monthly handle since the company began accepting wagers in 1997.

Youbet.com Cuts Losses During Third Quarter

  • News

A record $46.3 million was wagered through Youbet.com Inc. during the third quarter ended September 30, helping to narrow the online wagering company's overall losses to $2.1 million.

Youbet Moves to New Market

  • News

Youbet.com, an online racing and wagering service, had its stock listing moved to the Nasdaq SmallCap Market Aug. 9.

Youbet.com Hires Exec Away from Disney

Youbet.com has hired Gary Sproule, a former Disney executive, as its chief financial officer. The California online racing and wagering company also announced a marketing agreement with California fairs.

TVG Grants License to America TAB

Online wagering company America Tab has gained access to many of the country's premier racetracks by entering into a patent and content licensing agreement with the TV Games Network.

Youbet.com Exec to Join Magna

  • News

Ron Luniewski, the co-chief executive officer of Youbet.com, is resigning from the online horse racing wagering company to run Magna Entertainment's new XpressBet interactive wagering business.

TOC Extends Van de Kamp's Contract

  • News

The Board of Directors of the Thoroughbred Owners of California, at its March 7 meeting, unanimously voted to extend the contract of TOC president and general counsel John Van de Kamp through 2005.

Most Popular Stories