New Director Lawrence Lucas Adds Depth and Diversity to Youbet.com Board of Directors.Business Editors
WOODLAND HILLS, Calif.--(BUSINESS WIRE)--Jan. 14, 2002
Youbet.com, Inc. (Nasdaq:UBET), the leading online live event and wagering company, announced the appointment of Lawrence R. Lucas to its Board of Directors effective January 11, 2002.
Mr. Lucas is a seasoned executive with an extensive and diverse background in the fields of gaming and security as well as political affairs and social services. Presently, he serves as president of Conor Communications Company, the nation's largest provider of emergency services emergency services Emergency care '…services …necessary to prevent death or serious impairment of health and, because of the danger to life or health, require the use of the most accessible hospital available and equipped to furnish those services' support to the cellular and wireless communications industry. Mr. Lucas also counsels development stage companies in the telecommunications, Internet commerce and wireless industries on strategic planning, financing and governmental affairs issues. He is an investor in Ark Capital Management, a Chicago-based venture capital fund active in new venture and capital development primarily focused on African American African American Multiculture A person having origins in any of the black racial groups of Africa. See Race. enterprises.
An esteemed expert in gaming legislation, Mr. Lucas played an integral role in obtaining gaming licenses and building casinos for some of the world's most successful gaming enterprises including one of the first U.S. casino riverboats and the most profitable casino in Europe. He is also a strong proponent of interactive horse racing pari-mutuel wagering having directed organized legislative efforts to pass laws authorizing off-track betting in the State of Illinois. Additionally, Mr. Lucas played a pivotal role in Youbet's legislative efforts including the amendment to the Interstate Horseracing Act that became law in December 2000.
"Lawrence Lucas brings a wealth of first-hand expertise to Youbet.com, with invaluable industry knowledge and legislative experience," said Phillip Hermann, Co-Chief Executive Officer of Youbet.com. "His accomplished credentials bring added depth and diversity to our Board. We are fortunate to have attracted Mr. Lucas to Youbet.com and welcome his contributions and perspectives."
Lawrence Lucas commented, "I look forward to working with Youbet.com, a well-regarded horse racing industry leader and a pioneer in its field. My service to the Board illustrates my long-standing commitment to the Company that began years ago." Mr. Lucas offers political affairs advisory and issue advocacy services to private and public companies and organizations. His broad involvement in international business and affairs includes gaming initiatives in multiple jurisdictions in Europe, Asia and Africa.
In addition to enterprise business development and governmental affairs, Mr. Lucas is active in social services as a director for several community organizations in the Chicago metropolitan area “Chicagoland” redirects here. For for the racing venue, see Chicagoland Speedway.
The Chicago metropolitan area is the metropolitan area associated with the city of Chicago in the United States. .
In the United States, Youbet.com provides network members the ability to watch and, in most states, the ability to wager on a wide selection of coast-to-coast thoroughbred and harness horse races via its exclusive closed-loop network. Members have 24-hour access to the network's features, including live racing from a choice of all major racetracks in the U.S. and Canada, commingled track pools, live audio/video, up-to-the minute track information, real time wagering information and value-added handicapping products. Youbet Network subscribers enjoy live coverage from and wagering accessibility to all major racetracks in 39 states, representing virtually 100% of horse racing content.
Youbet.com maintains a strategic relationship 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 , a wholly owned subsidiary Wholly Owned Subsidiary
A subsidiary whose parent company owns 100% of its common stock.
In other words, the parent company owns the company outright and there are no minority owners. of Gemstar-TV Guide International Gemstar-TV Guide International, Inc. is a media company that licenses interactive program guide technology to multichannel operators, such as cable and satellite television providers, and consumer electronics manufacturers, video recorder scheduling code under brands such as VCR , Inc. (Nasdaq:GMST GMST Greenwich Mean Sidereal Time
GMST General Military Subjects Test
GMST Genov Modified Stroop Test ). TVG is the 24-hour interactive horse racing network available nationwide on cable and satellite systems with exclusive simulcast and interactive wagering rights to live racing from leading racetracks in the U.S. including Churchill Downs (owned by Churchill Downs Incorporated Churchill Downs Incorporated (NASDAQ: CHDN) is the parent company of Churchill Downs. The company owns several other thoroughbred and standardbred racetracks. History , Nasdaq:CHDN), Del Mar, Belmont Park, Aqueduct and Saratoga. Through the agreement, Youbet.com is licensed to utilize TVG's patented wagering technology for online and automated telephone applications and utilizes a right to video stream and accept online pari-mutuel wagers on horse racing from virtually all of TVG's exclusive partner racetracks.
Youbet.com operates Youbet.com TotalAccess(TM), an Oregon-based hub for the acceptance and placement of wagers. The Company also maintains a relationship with another state licensed wagering entity, MEC MEC Ministério da Educação (Ministry of Education)
MEC Ministerio de Educación y Ciencia (Spain: Ministry for Education and Science)
MEC Mountain Equipment Co-Op Pennsylvania Racing, part of Magna Entertainment Corp. (Nasdaq:MIEC MIEC military industrial extra-terrestrial complex
MIEC Mission Item Essentiality Code ) which owns and/or operates seven racetracks in the U.S. including Santa Anita Park Santa Anita Park is a thoroughbred racetrack in Arcadia, California, USA. It is known for offering some of the prominent racing events in the United States during the autumn and in winter. Racing at Santa Anita began in 1934. , Gulfstream Park, Golden Gate Fields , Golden Gate Fields is a horse racing track straddling both Albany, California and Berkeley, California along the shoreline of San Francisco Bay adjacent to the Thistledown this·tle·down
The silky down attached to the seedlike fruit of a thistle; pappus.
the mass of feathery plumed seeds produced by a thistle
Noun 1. , Remington Park, Great Lakes Downs and The Meadows. For further information about Youbet.com, visit www.youbet.com.
Press releases issued by Youbet.com may contain forward-looking statements, which are made pursuant to the safe-harbor provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Expressions of future goals and similar expressions reflecting something other than historical fact are intended to identify forward-looking statements, but are not the exclusive means of identifying such statements. These forward-looking statements involve a number of risks and uncertainties, including the timely development and market acceptance of products and technologies, successful integration of acquisitions, the ability to secure additional sources of financing, the ability to reduce operating expense Operating Expense
The essential things that a company must purchase in order to maintain business.
For example, the payment of employees wages are an operating expense.
Also known as OPEX. and other factors described in the Company's filing with the Securities and Exchange Commission. The actual results that the Company achieves may differ materially from any forward-looking statements due to such risks and uncertainties.
The Company undertakes no obligations to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release. You Bet is a registered trademark of Youbet.com, Inc. All other brands and products referenced herein are the trademarks or registered trademarks of their respective holders.