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SECURITIES AND EXCHANGE COMMISSION
Washington D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported)
January 20, 1999
YOUBET.COM, INC.
(Exact Name of Registrant as specified in Charter)
Delaware 33-13789LA 95-4627253
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(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification
incorporation) Number)
1950 Sawtelle Boulevard, Suite 180, Los Angeles, California 90025
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(Address of principal executive offices) (Zip Code)
(310) 444-3300
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(Registrant's telephone number, including area code)
YOU BET INTERNATIONAL, INC.
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(Former name or former address, if changed since last report)
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ITEM 5. OTHER EVENTS
On January 20, 1999 You Bet International, Inc. announced that it had
changed its name to Youbet.com, Inc. A copy of a press release issued by
Youbet.com, Inc. on such date is attached hereto as EXHIBIT 99.1 and
incorporated herein by reference.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
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Exhibit No Description
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99.1 Press release dated January 20, 1999
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf hereunto
duly authorized.
Date: January 25, 1999 YOUBET.COM, INC., a Delaware corporation
By: /s/ PHILLIP HERMANN
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Phillip Hermann
Chief Financial Officer
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Exhibit 99.1
FOR IMMEDIATE RELEASE Contact: Phillip Hermann or
Ronan Higgins
Tel: (310) 444-3300
Email: [email protected]
YOU BET INTERNATIONAL, INC, RENAMED YOUBET.COM
TO REFLECT E-COMMERCE FOCUS
JANUARY 20, 1999 --- LOS ANGELES, CA --- The Board of Directors of You Bet
International, Inc. (OTCBB:UBET), a high-technology online company specializing
in live-event wagering, announced today that the company has been renamed
Youbet.com to better reflect its position in the e-commerce arena.
As the first and only interactive online horseracing network in the U.S., the
company launched its service six months ago offering subscribers instant access
to watch and wager on a wide selection of coast-to-coast thoroughbred and
standard-bred horseracing via its virtual closed-loop network.
Members have 24-hour access to the network's features including live racing from
a choice of more than 16 leading racetracks across the country, commingled track
pools and payoffs, live audio/video, up-to-the-minute track information,
real-time wagering information and value-added handicapping products. Youbet.com
derives revenues through subscription fees, information sales and a percentage
of every wager made through its network.
"During the last six months we have proven our network, systems and software are
prepared to accommodate our expansion from a technology development company to a
marketing driven one," said Robert Fell, Youbet.com's Chairman and Chief
Executive Officer. "Just as Amazon.com (NASDAQ:AMZN) filled the book space; eBay
(NASDAQ:EBAY) developed the auction area; and Yahoo! (NASDAQ:YHOO) dominated the
search engine area, we feel we have the assets to be the leading online,
live-event wagering company in the world and the name Youbet.com better reflects
this."
Additionally, to complement the current management team and support the shift
toward e-commerce, Fell said the company has retained Heidrick & Struggles to
conduct a search for a top marketing executive.
Youbet.com is a Los Angeles-based interactive technology company that
facilitates live-events and is focused on content development, network
deployment and management services via a cross-platform environment.
Youbet.com's mission is to be the premier technology and service provider for
interactive live-event wagering worldwide, and to create a widely accessible
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interactive race and sports environment filled with rich and exciting content.
In December 1998, You Bet accepted the 1998 Innovator of the Year Honors by
"Internet Gaming International."
For further information, visit www.youbet.com or contact Phillip Hermann or
Ronan Higgins at (310) 444-3300. To subscribe to Youbet.com call 1-888-YOUBET-8.
NOTE TO THE EDITORS: This release contains forward-looking statements, which are
made pursuant to the safe-harbor provisions of the Private Securities
Litigations Reform Act 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 and other factors described in the Company's filings 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. All other brands and products referenced herein are the trademarks
or registered trademarks of their respective holders.
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