20-10-2007 Youbet's IRG meets with Oregon Racing Commission

While Youbet reiterated in a conference call with its investors that the company's core online wagering service Youbet Express is not involved in any way with the government inquiry that two weeks ago saw federal officials seize three IRG bank accounts in Nevada, the executive director of the Oregon Racing Commission said they are currently looking into regulations to decide whether IRG is fit to continue to operate considering that all deposits and withdrawals have been suspended.

In related news, Breeders’ Cup consultant Ken Kirchner said that because of the ongoing federal investigation IRG has not been extended the contract to carry signals of the October 26-27 Breeders’ Cup.

"With everything going on, their decision is understandable. We understand them wanting to wait and see. We will work hard to reinstill their confidence in IRG," said Youbet CEO and President Charles Champion.