Webis Holdings Plc (LON:WEB) more than doubled in value on Tuesday after it telling investors it had extended a key contract for its WatchandWager.com racing pools platform.
The company said that French tote betting group Pari Mutuel Urbain (PMU) has extended a contact with the Webis unit WatchandWager, and as a result the AIM group’s customers can bet directly into the French horseracing pools.
Also customers of WatchandWager will also be able to watch French horse racing via a streaming service.
WatchandWager has been partnered with PMU for two years, but it said the extension to the end of 2016 is significant.
Webis expects to see a significant impact to turnover through the remainder of 2016 as a result of the contract renewal.
"It is an honour for WatchandWager to renew its partnership with the PMU and to be able to offer world class racing to our customers,” said Ed Comins, Webis managing director.
“It is particularly good time with the French core thoroughbred season approaching full swing right now, and culminating in the Prix de L'Arc de Triomphe meeting in October.
“We look forward to promoting French Racing to our international customers throughout this exciting time."
On AIM, Webis shares raced 1.03p, 141% higher to change hands at 1.75p each.