Webis, the operator of WatchandWager Cal Expo, has signed a deal to run Harness Racing at Arizona Downs and has confirmed that it has received approval to extend its stay at the Sacramento race track.
Expanding into the Arizonan racing market, WatchandWager has agreed to a commercial lease to operate live Harness Racing, pari-mutuel wagering and food and beverage operations at the venue.
The deal will last until 2027 with the option to extend for a further five years, however, it is subject to regulatory approval from the Arizona Department of Gaming.
Regulatory approval is expected to be signed off by the summer of this year, with shareholders being kept up to date regularly.
This agreement comes soon after the board of Webis confirmed the extension of its lease at the Sacramento-based Cal Expo harness race track.
With its initial five-year deal set to expire in 2025, the firm has opted to exercise its option to a five-year extension of the lease agreement after receiving regulatory approval.
Watchandwager has operated at the Cali Expo since 2012 and by the end of the extended lease agreement, will have been tenants of 18 years.
The approval is subject to a signed contract between the landlord and WatchandWager, however the key business agreements have already been outlined, with the signatures set to be a ‘formality’.