NASDAQ MAY NOT DELIST YOUBET TVG MERGER GOOD SIGN.Byline: Evan Pondel Staff Writer If you're looking to place a few bets online for today's Belmont Stakes Belmont Stakes Oldest of the three U.S. horse races that constitute the Triple Crown. The Belmont originated in 1867 and is named after August Belmont (see Belmont family). The stakes is held in early June at Belmont Park, near Garden City, Long Island; the course is 1.5 mi (2,400 m). , don't look for the backstretch back·stretch n. The part of an oval racecourse farthest from the spectators and opposite the homestretch. at Youbet.com. The online wagering site wasn't able to pull together its partnership with Gemstar-TV Guide fast enough to take advantage of the last leg of horse racing's Triple Crown. As the company continues to jockey for position on the Nasdaq amid weakness in its share price, the deal with TVG TVG TV Guide (magazine) TVG Televisión de Galicia TVG Tierversuchsgegner (German: Antivivisection) TVG Television Games Network TVG Toronto Venture Group TVG Tri Valley Growers TVG Time-Variable Gain could eliminate some of the hurdles the Woodland Hills-based company faces. A day after the partnership was consummated, Youbet.com received a notice from Nasdaq noting its failure to comply with the market's requirements for continued listing. Phillip Hermann, Youbet.com's executive vice president and chief financial officer, said the company is not predicting whether Nasdaq will terminate the company's listing. ``I don't want to speculate, but we are appealing the termination,`` Hermann said. Nasdaq is seeking to delist delist To drop a security from trading on an organized exchange. Delisting may occur for a number of reasons including failure to meet an exchange's standards or placement of a new listing on another exchange. Compare list. the stock because it was unable to trade at $1 or higher for 10 consecutive trading days prior to May 21, the company said in a statement. However, the stock closed at $1.36 the day the company announced its alliance with TVG and shares have hovered around a dollar for the past two weeks. At Friday's close, Youbet was up 5 cents at $1.02. Luis Martins The introduction to this article provides insufficient context for those unfamiliar with the subject matter. Please help [ improve the introduction] to meet Wikipedia's layout standards. You can discuss the issue on the talk page. Season Pos. Pl. , an analyst with Taglich Brothers in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , said there is a 75 percent chance Youbet.com will not be delisted. Martins said Nasdaq may look favorably at the company's deal with Gemstar, but Youbet.com's listing will ultimately depend on a broader scope of their performance. ``Its a touchy situation. It comes down to Nasdaq and how they perceive the company's developments,`` Martins said. ``But this transaction will probably ensure that they will stick around for a little while.'' Pasadena-based TVG operates a cable-TV channel that broadcasts horse races Flat races Argentina
Youbet.com will pay TVG fees based on wagers generated from the hub. Youbet.com has also issued warrants to TVG for the purchase of up to 19.9 percent of Youbet.com's 19.5 million shares outstanding. A second warrant, which can be exercised during the first 36 months of the agreement, will entitle TVG up to 51 percent of the number of Youbet.com's outstanding shares. ``Theoretically, they could take control of our company,`` Hermann said. Until the network in Oregon is up and running, Youbet.com continues to forge ahead with its business plan: breaking cash-flow even. ``We're not a classic dot-com - we've been public for 5 1/2 years - we truly have revenue and we have a model that works,`` Hermann said. The company has $8 million in the bank and had revenue of $7 million, with a net loss of $1.7 million, or 9 cents a share for the year ended Dec. 31, 2000. Hermann said the company is focusing on bolstering its subscriber base of about 15,000 with the release of new software. In addition, a law in Nevada that essentially mitigates some of the barriers to online gambling Online gambling is a general term for gambling using the Internet. This article provides a brief introduction to some of the forms of online gambling, as well as discussing general issues. has passed through the state Legislature A state legislature may refer to a legislative branch or body of a political subdivision in a federal system. The following legislatures exist in the following political subdivisions: Hermann said the move could pave the way for an increase in Web wagering. |
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