LONDON (ShareCast) - (ShareCast News) - Gaming and technology operator Webis Holdings said its subsidiary WatchandWager.com has been granted an Advanced Deposit Wagering (ADW) license by the Washington Horse Racing Commission.
The license will allow WatchandWager to offer online pari-mutuel wagers on horse racing from Washington State residents, the company said in a statement on Monday.

Webis added that the deal was of significant strategic importance as the state's ADW market has grown at a steady pace recently, with $61.7m wagered in 2014, a 20% increase year-on-year.

"We are excited to add Washington State to WatchandWager's growing list of states where we can accept wagers," said group president Ed Comins.

"The fact that it is a State with an increasing population and a rapidly-expanding ADW market makes it an excellent business opportunity for WatchandWager."

Webis shares were untraded early on Thursday.

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