BNET Industries
Market Cap:$109.3M
Last Fiscal Year Sales:$138.1M
- Public
- US
Dow Jones Description
Youbet.com, Inc. (NASDAQ: UBET) is a leading domestic online horse racing and horse betting site, the exclusive provider of live horse racing footage and racing results to ESPN.com and CBSSports.com and a leading supplier of totalizator systems to the pari-mutuel industry. Youbet?s website enables its customers to securely wager on horse races at over 150 racetracks each year worldwide from the convenience of their homes or other locations. Through its online platform, Youbet offers members real-time wagering, co-mingled track pools, conditional wagering capabilities, high quality live audio/video, up-to-the-minute track information, mobile wagering, race replay library, simultaneous X2 Video multi-race viewing capability and sophisticated ROI-based player analysis tools. In addition, through its United Tote totalizator systems subsidiary, Youbet provides hardware and software to its track partners, allowing them to process pari-mutuel wagers, issue and pay tickets, and calculate payoff odds.
President & Chief Executive Officer
David GoldbergNumber of Employees 326
Peer Companies
NAICS Code Other Gambling Industries: 713290
Recent Events
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Churchill Downs makes bet on online wagering (Reuters)
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Churchill Downs Agrees to Buy Youbet
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Churchill Downs bets on online growth; buys Youbet.com for $127.8 million
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Churchill Downs to buy Youbet Web site
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Former AGA Staff Member Hale Hired by Churchill Downs
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Churchill Downs To Acquire Youbet.com For About $126.8 Mln - Quick Facts
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YouBet.com remaining optimistic going forward
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Youbet.com Names Dawn Haden President of United Tote
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Social Networking From YouBet.com
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Youbet.com Announces Addition of Susan Bracey as Interim Chief...
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Youbet.com second-quarter profit falls
News & Analysis
Filter by
readers and youbet.com inc. - All News and Analysis
Steven C. Good Elected to Youbet.com Board of Directors; Experienced Executive to Serve as Chairman of Audit Committee
WOODLAND HILLS, Calif. -- Youbet.com, Inc. (NASDAQ: UBET) announced that at today's Annual Meeting, stockholders elected Steven C. Good, 64, to the Company's Board of Directors. Mr. Good replaces departing board member, Robert E. Brierley, who elected not to stand for reelection in order to focus on other business commitments....
Youbet.com Reports Third Quarter Diluted Earnings Per Share of $0.05, Inclusive of $0.01 Impact for Compensation Charge; Third Quarter Income from Operations Rises 101% Year-Over-Year on 49% Increase in Total Revenue
WOODLAND HILLS, Calif. -- Youbet.com, Inc. (NASDAQ: UBET) today reported net income of $1.8 million, or $0.05 per diluted share, for the third quarter ended September 30, 2005, inclusive of a $0.2 million, or $0.01 per diluted share, impact from a previously-disclosed compensation charge. For the third quarter of 2004,...
Youbet.com Reports Record Second Quarter Net Income of $1.3 Million or $0.04 Per Diluted Share; Total Revenue Rises 40.8% to $23.5 Million on Record Quarterly Handle of $120.5 Million
WOODLAND HILLS, Calif. -- Youbet.com, Inc. (NASDAQ: UBET) today reported record net income of $1.3 million, or $0.04 per fully diluted share, for the 2005 second quarter, compared to net income of $39,766, or $0.00 per fully diluted share, in the 2004 second quarter. The 2005 second quarter results include...
Jeff True Appointed Youbet VP; Western Region GM Also to Head Company Promotion Programs
WOODLAND HILLS, Calif. -- Youbet.com, Inc. (NASDAQ:UBET) today announced that Jeff True has been named a Vice President of the company. True will continue as Western Region General Manager for the company, which is the market share leader in online advanced deposit horse race wagering. With the appointment, True also...
Youbet.com Files $50 Million Universal Shelf Registration
WOODLAND HILLS, Calif. -- Youbet.com, Inc. (NASDAQ:UBET) announced today that it has filed a $50 million universal shelf registration statement on Form S-3 with the Securities and Exchange Commission. Once declared effective by the Securities and Exchange Commission, the shelf registration statement would permit Youbet to sell, in one or...
Wang Named New Head of Youbet Player Services
WOODLAND HILLS, Calif. -- James Wang, a former business and process planning manager with United Airlines and Telepacific Communications, has been named Director of Player Services for Youbet.com, Inc. (NASDAQ:UBET), the largest provider of online horse racing content in the United States. In his new role, Wang assumes responsibility...
Youbet.com Reports Record First Quarter Results as Diluted Net Income Per Share Rises to $0.03; Total Revenue Rises 25.1% To $18.5 Million on Record Quarterly Handle of $88.3 Million
WOODLAND HILLS, Calif. -- In the Summary of First Quarter Results financial table, the Net Revenue line is corrected to read as follows:Summary of First Quarter Results (in thousands, except per share and For the three percentage figures)...
RCI's Powell Named Youbet VP-Public Affairs and Central Region GM
WOODLAND HILLS, Calif. -- Youbet.com, Inc. (NASDAQ:UBET), a leading online wagering company and the largest provider of Internet horse racing content in the United States, said today that Lonny T. Powell will join the company as Vice President-Public Affairs and General Manager of the Central Region. Powell, who is currently...
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Decision Makers
| Name (plus bio) | Position |
|---|---|
| David Goldberg | President & Chief Executive Officer |
| Jeff Franklin | First President, Youbet Online Services |
| Charles R. Bearchell | CFO |
| Douglas W Tung | Chief Technology Officer |
| Gary W. Sproule | Chief Financial Officer |
| Archi Padilla | Head, Member Services, Vice President, Hr & Admin |
| Michael D. Nelson | Controller |
| Patrick Avakian | Internal Auditor |
| Robert E Brierley | |
| Gary Adelson | Director |
| Governor Jim Edgar | Director |
| R. Doug Donn | Director |
Board of Directors
| Name (plus bio) | Position |
|---|---|
| Michael Brodsky | Chairman |
| Steven C Good | Chairman |
| F. Jack Liebau | Board of Directors |
| Guy J Chipparoni | Board of Directors |
| James Edger | Board of Directors |
| Joseph F. Barletta | Board of Directors |
| Organization | Position | Status |
|---|---|---|
| Youbet.com Inc. | President & Chief Executive Officer | Current |
| Youbet.com Inc. | Chief Operating Officer | Former |
| Ticketmaster | Executive Vice President | Former |
| Sportvision, Inc. | Executive Vice President, Corporate Development | Former |
| Ticketmaster | Marketing Director, Midwest Region | Former |
| University of Chicago Graduate School of Business | MBA | Former |
| Northwestern University | B.A., Economics | Former |
| Organization | Position | Status |
|---|---|---|
| Youbet.com Inc. | First President, Youbet Online Services | Current |
| Youbet.com Inc. | Executive Director, Product | Former |
| Organization | Position | Status |
|---|---|---|
| Youbet.com Inc. | CFO | Current |
| Youbet.com Inc. | -Nil- | Former |
| Organization | Position | Status |
|---|---|---|
| Douglas W. Tung | Chief Technology Officer for Youbet.Com | Current |
| Youbet.com Inc. | Chief Technology Officer | Current |
Mr. Sproule was appointed Chief Financial Officer in August 2005, a position he held from 2002 to 2004 when he began a one-year assignment as the company's Chief Operating Officer. He has been Secretary to the Board of Directors since September 2002. Prior to joining the company, Mr. Sproule served as Chief Financial Officer at Disney Interactive where he had worldwide finance responsibilities including strategic planning, controllership, operations, administration and information technology. Prior to Disney Interactive, Mr. Sproule served as Chief Financial Officer of WhatsHot Now.com and prior to that Chief Financial Officer of Magnet Interactive Communications. Mr. Sproule spent 25 years at UNOCAL, where he last held the position of Chief Operating Officer for the 76 Products Marketing Division.
| Organization | Position | Status |
|---|---|---|
| Youbet.com Inc. | Chief Financial Officer | Current |
| Youbet.com Inc. | Secretary | Current |
| Unocal Corporation B.V. | Chief Operating Officer | Former |
| Organization | Position | Status |
|---|---|---|
| Youbet.com Inc. | Head, Member Services, Vice President, Hr & Admin | Current |
| Organization | Position | Status |
|---|---|---|
| Youbet.com Inc. | Controller | Current |
| Consolidated Film Industries | Chief Financial Officer | Former |
| University of California, Santa Barbara | B.A. | Former |
Patrick Avakian is an Associate in the Firm's Los Angeles office and a U.S. Patent and Trademark Office registered patent attorney who specializes in intellectual property matters, corporate law, securities, legislation, and compliance. Mr. Avakian joined the firm with a great amount of experience in patent and trademark prosecution, portfolio management for both U.S. and international I.P. matters and client counseling. His prior experience includes compliance director and lead internal auditor for YouBet.com, and General Counsel at Fancy Foods, Inc. in international trade, business development, and IP development and licensing. Mr. Avakian was also a Judicial Extern for the Honorable Terry J. Hatter, Jr., Chief U.S. District Judge, researching intellectual property, evidentiary issues, and procedure. Other experience includes a law clerkship at Bollington, Stilz, Bloeser & Curry, and Patent and Trademark Assistant at Lyon & Lyon, LLP. Mr Avakian earned his bachelor's degree in biochemistry with a minor in physics at University of California, Santa Barbara. He attended Brooklyn Law School, where was the Moot Court finalist and in the top 10 percentile of the class, graduating with his J.D .from Pepperdine University School of Law in 2002. He is fluent in Armenian and conversant in French and Farsi.
| Organization | Position | Status |
|---|---|---|
| Youbet.com Inc. | Internal Auditor | Current |
| Buchalter Nemer Llp | Attorney | Current |
| Fancy Foods Inc. | General Counsel | Former |
| Pepperdine University School of Law | J.D . | Former |
| University of California | Bachelor, Biochemistry With A Minor In Physics | Former |
Mr. Brierley has extensive experience managing the growth of venture-backed and publicly traded technology companies. Spanning more than twenty eight years, his business career has included executive-level positions with responsibility for strategy formulation, business development, operations, merger and acquisitions and corporate finance. Mr. Brierley is a construction industry veteran from his six years with Phoenix Controls Corporation where as COO, he teamed with founder Gordon Sharp to refine the company's strategic focus. He was insturmental in directing the growth of the company into an industry leader and culminating in its sale to Honeywell, Inc. in 1998. More recently, Rob was CFO for Extraction Systems guiding the company through a recovery and rapid cyclical expansion. Mr. Brierley earned his MS in Management from the MIT Sloan School of Management.
| Organization | Position | Status |
|---|---|---|
| Aircuity, Inc. | President | Current |
| Youbet.com Inc. | Current | |
| Phoenix Controls Corporation | Coo | Former |
| Extraction Systems, Inc | Cfo | Former |
| Phoenix Controls Corporation | Founder | Former |
| Honeywell Corporation | Industry Leader | Former |
| MIT Sloan School of Management | Ms In Management | Former |
| Principia College | Bachelor's Degree | Former |
Michael Brodsky assumed his post in April 2008. He is responsible managing the nation’s leading online horse racing and wagering organization, with approximately 300,000 members and over $3 billion wagered. Mr. Brodsky joined the Youbet.com board as a director in June 2007, and was elected Chairman of the Board in February 2008 to June of 2008. He joined Youbet.com from New World Opportunity Partners, where he had been a Managing Partner since June 2005. Prior to that, Mr. Brodsky was the Chief Financial Officer of The Away Network, an online travel media company where he worked from 1999 until 2005. The Away Network owned and managed sites including Away.com, OutsideOnline.com and GORP.com. In 2005 Away was acquired by Orbitz.com and Cendant Corporation where he worked as VP, Finance, in Cendant's Travel Distribution Services Division. Mr. Brodsky holds a B.A. from Syracuse University, a J.D. from the Northwestern University School of Law and an M.B.A. from Northwestern University’s JL Kellogg Graduate School of Management.
| Organization | Position | Status |
|---|---|---|
| Youbet.com Inc. | Chairman | Current |
| Youbet.com Inc. | Chief Executive Officer | Former |
| Away.com, Inc. | Chief Financial Officer | Former |
| Northwestern University School of Law | J.D. | Former |
| Kellogg School of Management at Northwestern University | MBA | Former |
| Syracuse University | B.A. | Former |
Steven Good is a senior partner in the firm, and is actively involved in business consulting and advisory services for a sizeable and varied client base, which includes manufacturing industries, garment industries, medical services and real estate development. He also has extensive experience in acquisitions, merger transactions and business valuations. Mr. Good received his Bachelor of Science in Business Administration from the University of California, Los Angeles, where he also attended graduate school. In 1976, he founded Block Good and Gagerman, which later evolved into Good, Gagerman and Berns (1986), Good Swartz & Berns (1993), and now Good Swartz Brown & Berns (2001). Earlier in his career Mr. Good was a partner at Freeman Horowitz & Good, as well as Leventhal & Horwath, a national accounting firm. A founder and past Chairman of CU Bancorp, Mr. Good directed the bank's solid market position from 1982 through 1992. Mr. Good is actively involved in the Board of Directors of several public companies, leveraging his insight in this area for the benefit of his clients. Mr. Good is very active in the Los Angeles community, and continues to devote time to many charitable endeavors. In 1996 he completed a two-year term as Chairman of the Board for the Jewish Home for the Aging. During his tenure he also served on the various committees affiliated with all phases of The Home. Mr. Good is also a member of the Board of the American Friends of the Hebrew University and the Jewish Community Foundation. Mr. Good is former Founding Director of the ALS Association (Lou Gherig's Disease); a member of the Chancellor's Circle of UCLA; and former Chairman of the Marilyn and Monty Hall Statesman's Club of the Jewish Home for the Aging. He is founding President of the Santa Monica Synagogue. Mr. Good participates in other religious and non-religious organizations as well. He is a Director and past Vice President of The Guardians, and is also an active participant in both the Brentwood Country Club Chapter of the United Jewish Fund and Jewish Big Brothers. Mr. Good is an active member of: the American Institute of Certified Public Accountants; the National Association of Accountants; the California Society of Certified Public Accountants; and the Nevada State Board of Accountancy.
| Organization | Position | Status |
|---|---|---|
| Good Swartz Brown & Berns Llp | Partner | Current |
| Good Inc. | Senior Partner | Current |
| Fors With Belgian Chocolate. Locations | Independent Director | Current |
| California Society of Certified Public Accountants | Active Member | Current |
| OSI Systems, Inc. | Non-Executive Director | Current |
| Youbet.com Inc. | Chairman | Current |
| Guardians | Director | Current |
| Fors With Belgian Chocolate. Locations | Director | Current |
| Kayne Anderson Mlp Investment Co | Director | Current |
| Arden Realty, Inc. | Board of Directors | Current |
| Kayne Anderson Energy Total Return Fund, Inc. | Board of Directors | Current |
| Hebrew University of Jerusalem | Board of Directors | Current |
| American Institute of Certified Public Accountants | Board of Directors | Current |
| American Friends of the Hebrew University | Board Member | Current |
| California Pizza Kitchen Inc. | Director | Current |
| Blease | Board of Directors | Current |
| OSI Systems, Inc. | Director | Current |
| California Society of Certified Public Accountants | Board of Directors | Current |
| American Friends | Board of Directors | Current |
| University of California, Los Angeles | Member | Current |
| California Society of Certified Public Accountants | Active Member | Current |
| American Institute of Certified Public Accountants | Active Member | Current |
| Guardians | Vice President | Former |
| Horwath International | Former | |
| Youbet.com Inc. | Director | Former |
| The Walking Company Holdings, Inc. | Board of Directors | Former |
| University of California | Bachelor of Science | Former |
| University of California, Los Angeles | Bachelor of Science Degree In Business Administration | Former |
| Organization | Position | Status |
|---|---|---|
| Youbet.com Inc. | Board of Directors | Current |
A private consultant specializing in the media, sports and entertainment industries, Gary Adelson has served as a director since April 2002. He brings vast experience to Youbet.com from a wide range of professional disciplines. Currently the director of Small World Kids, Inc., a manufacturer and distributor of high-quality specialty toys and educational products, Mr. Adelson until September 2007 was the Managing Director of the international banking firm Houlihan, Lokey, Howard & Zukin. In June 2003 he co-founded and was a principal of Media Connect Partners, a provider of financial and operating advisory services to media, entertainment, sports and communications companies. In 1993, Mr. Adelson founded Interactive Cable Systems, a private cable and telephone company that was acquired by MCI. Mr. Adelson also has a long and celebrated career in the television and entertainment industry as a producer of television shows, mini-series and feature films including Eight Is Enough, The Last Starfighter, Hook, Universal Soldier, It Could Happen to You and the Emmy-winning Sybil. He is a member of the Academy of Television Arts and Sciences, Academy of Motion Picture Arts and Sciences, the American Film Institute and the Directors Guild of America.
| Organization | Position | Status |
|---|---|---|
| Youbet.com Inc. | Director | Current |
| Academy of Motion Picture Arts and Sciences | Board of Directors | Current |
| Academy of Television Arts & Sciences | Board of Directors | Current |
| Directors Guild of America, Inc. | Board of Directors | Current |
| Small World Kids, Inc. | Director | Current |
| American Film Institute | Board of Directors | Current |
| Academy of Motion Picture Arts and Sciences | Member | Current |
| Houlihan Lokey Howard & Zukin | Managing Director | Former |
| Eight, Inc. | Producer | Former |
| Loudeye Corp. | Former | |
| University of California, Los Angeles | B.A. in Economics | Former |
| Organization | Position | Status |
|---|---|---|
| Res Publica Group | Advisor | Current |
| Youbet.com Inc. | Director | Current |
| Horizon Group Properties, Inc. | Board of Directors | Current |
| John B. Sanfilippo & Son, Inc. | Board of Directors | Current |
| Alberto-Culver Company | Board of Directors | Current |
| Public Affairs LLC | Fellow | Current |
| University of Illinois | Fellow | Former |
| Organization | Position | Status |
|---|---|---|
| Res Publica Group | President | Current |
| Res Publica Group | Owner | Current |
| Metropolitan Pier & Exposition Authority | Board of Directors | Current |
| Youbet.com Inc. | Board of Directors | Current |
| Res Publica Group | General Manager | Former |
| Hill & Knowlton, Inc. | Senior Managing Director of Public Affairs | Former |
| Navy Pier | Chair | Former |
| U.S. Bancorp | Advisory Board | Former |
| Illinois State University | Bachelor's Degree In Journalism | Former |
| Organization | Position | Status |
|---|---|---|
| Youbet.com Inc. | Board of Directors | Current |
| Organization | Position | Status |
|---|---|---|
| Distinction Limited | Director | Current |
| Silicon Prairie Partners Venture Capital | Board of Directors | Current |
| Youbet.com Inc. | Board of Directors | Current |
| Armanino Foods of Distinction, Inc. | Board of Directors | Current |
| Freedom Communications Inc. | Chief Executive Officer | Former |
| Daily News, L.P. | Chief Executive Officer | Former |
| Daily News, L.P. | Chief Operating Officer | Former |
| Freedom Communications Inc. | Chief Operating Officer | Former |
| Chicago Tribune Company | Vice President | Former |
| Seyfarth Shaw | New York City partner | Former |
| Chicago Tribune Company | Executive | Former |
| Armanino Foods of Distinction, Inc. | Director | Former |
Mr. Donn, who served as CEO of Florida's Gulfstream Park Racing Association for 22 years and as Chairman for four years, is currently Chairman of the Community Bank of Broward and a member of the Board of Trustees of Nova Southeastern University, both in Fort Lauderdale. During his tenure, Gulfstream set Florida wagering and attendance records and secured for Florida the prestigious Breeders cup world Championship in 1989, 1992 and 1999. He is a founding Director of the National Thoroughbred Racing Association and an active participant in business and civic affairs through the Chamber of Commerce and various Broward economic development groups.
| Organization | Position | Status |
|---|---|---|
| Nova Southeastern University | Board of Trustees | Current |
| Youbet.com Inc. | Director | Current |
| National Thoroughbred Racing Association | Director | Current |
| Gulfstream Park Racing Association Inc. | CEO | Former |
Executive News
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Youbet.com Promotes COO David Goldberg as President, CEO - Update
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Youbet.com appoints COO David Goldberg as its new President and CEO - Quick Facts
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Youbet.com Appoints Chief Operating Officer David Goldberg as New President and Chief Executive Officer
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Youbet.com Appoints Chief Operating Officer David Goldberg as New...
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