 |
Prospector
Profile
1109-05
|
| |
| Youbet.Com, Inc. |
NAICS |
711212 |
| 5901 De Soto Avenue
Woodland Hills, CA 91367 |
Description |
Horse Racetracks |
| (818) 668-2100 |
Employees |
447 |
| http://www.youbet.com/bc/ |
Revenue |
(mil) |
136.6820 |
| |
Income |
(mil) |
-2.0300 |
| |
Assets |
(mil) |
105.6050 |
| |
Liability |
(mil) |
52.8300 |
| |
(for the year ended 2006-12-31) |
| |
|
Category:
Default
|
| |
|
Event:
Youbet.Com, Inc. entered into a waiver of default and side letter agreement with Wells Fargo Foothill Inc., the administrative agent under the company's credit agreement. Youbet and United Tote Company, Inc., were borrowers under a credit agreement dated as of July 27, 2006 with Wells Fargo Foothill, as administrative agent and sole lender. A default in the credit agreement resulted when the United States government seized on Oct. 11, 2007, IRG Services Inc.'s $1.5 million account held in the Bank of America NA. IRG is Youbet's offshore rebate group.
|
| |
|
Intellectual Property:
In February 2006, Youbet completed its acquisition of 100% of the outstanding common stock of United Tote Company for $31.9 million plus the assumption of approximately $14.7 million of United Tote secured debt, which Youbet agreed to guarantee. The purchase price allocation resulted in $7.9 million of identifiable intangible assets related to trademarks, trade names, game content and technology. [SEC Filing 10-K 03-16-07]
|
| |
|
Description:
The Company provides technology and pari-mutuel horse racing content through Internet and telephone platforms in the United States, Canada, the United Kingdom, Australia, South Africa, and Hong Kong.
|
| |
|
Officers:
Charles F. Champion (Pres. & CEO); Gary W. Sproule (CFO & Treas.)
|
| |
|
Auditor:
Piercy Bowler Taylor & Kern
|
| |
|
Securities:
Common Stock-Symbol UBET; NasdaqCM;
42,119,743 common shares outstanding as of July 21, 2007.
|
| |
| |
| |
| return to main page |
|
|
