Webis Holdings posts $6.2m in first half revenue

Finance News

Webis Holdings PLC on Friday said revenue was down in the first half, as heavy rainfall saw race meetings cancelled.

The Isle of Man-based gaming firm posted a pretax loss of USD325,000 in the six months ended November 30, widening from a pretax loss of USD70,000 in 2021.

The company said revenue for the period was USD6.2 million, down 8.8% from USD6.8 million a year ago. Webis noted that “unprecedented severe weather conditions” in California during the winter led to a lack of content due to the cancellation of seven race meetings.

“We have health and safety obligations to our equine and human participants at the track and, of course, without live racing, revenue levels were below normal,” the company commented.

Webis said conditions have improved, and that it expects strong trading until the end-of-season in late April.