Youbet.com Adds Two New Members to Board of Directors
LOS ANGELES, Apr 24, 2002 -- Youbet.com, Inc. (Nasdaq: UBET chart, msgs), the leading online live event and wagering company, today announced the election of two new members to the Company's Board of Directors. Gary Adelson and Brad S. Rosenberg have joined the Board.
Gary Adelson, is a managing partner at EastWest VentureGroup, a venture capital group focused on convergence infrastructure, a market that is bridging the transition to all-digital audio, video, voice, text, and imaging. Adelson enjoys an extensive background in production for a broad array of entertainment mediums. He began his career as producer of the long-running television series "Eight is Enough," and went on to produce many other successful television series, television films, mini-series, and feature films. Mr. Adelson's notable filmography of 20 films and hundreds of hours of television includes "The Last Starfighter," a revolutionary film first utilizing reality-based CGI, the Emmy-winning "Sybil," "Hook," "Universal Soldier," and "It Could Happen to You." In 1993, Mr. Adelson founded Interactive Cable Systems, a private cable and telephony company, which was later acquired by MCI.
Mr. Adelson is an active member of numerous entertainment industry associations including the Academy of Television Arts and Sciences, the Academy of Motion Picture Arts and Sciences, the American Film Institute and the Directors Guild of America.
Brad S. Rosenberg is a co-founder and principal of North Atlantic Partners, LLC, a private investment firm focused on providing expansion capital to growth-oriented companies. Mr. Rosenberg's clientele represents the gaming, manufacturing and retail service industries. Prior to co-founding North Atlantic Partners, Brad was a Vice President at Bear Stearns & Co, Inc. in New York City. At Bear Stearns, Mr. Rosenberg was a member of the High Yield Bond Group, where he was responsible for institutional clients with assets in excess of $75 billion.
"Gary Adelson's wide-ranging background in entertainment, business development, and venture funding, brings added diversity to our Board," said David Marshall, Chairman and Chief Executive Officer of Youbet.com. "His depth of expertise in organizational development and financing is an ideal fit for Youbet.com as we move forward with our enhanced marketing and expansion plans.
"With relationships across the investment community, Brad Rosenberg brings a wealth of practical knowledge of capital markets and business finance to his seat on our Board, along with an in-depth analyst's perspective on the gaming industry that will serve us well in our business and capital development strategies.
"We are very pleased with our rapid progress in building a powerful and active Board of Directors and enthusiastically welcome Gary Adelson and Brad Rosenberg," Marshall concluded.
About Youbet.com
To open an account, please visit www.youbet.com or call Member Services toll free at 1-888-YOUBET8 (968-2388).
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 Youbet Network's features including live racing from a choice of over 80 racetracks representing all major racetracks, in the U.S., Canada and Australia such as Churchill Downs, Hollywood Park, Arlington, Pimlico, Oaklawn, Del Mar, Belmont Park, Aqueduct, Saratoga, Santa Anita Park, Gulfstream Park, Golden Gate Fields. Other Network features include commingled track pools, live audio/video, up-to-the minute track information, real time wagering information and value-added handicapping products. Youbet Network customers enjoy live coverage from and wagering accessibility to all major racetracks in 40 states, representing virtually 100% of major horse racing content.
Youbet.com is a patent and content licensee and strategic partner of TVG, a wholly owned subsidiary of Gemstar-TV Guide International, Inc. (Nasdaq: GMST chart, msgs) and partners with MEC Pennsylvania Racing, part of Magna Entertainment Corp. (Nasdaq: MIEC chart, msgs). Youbet.com is an official online wagering platform of Churchill Downs Incorporated and the Kentucky Derby. Youbet.com operates Youbet.com TotalAccess(TM), an Oregon-based hub for the acceptance and placement of wagers. |
