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Hub Plan Delayed; Seach for Investors Continues

NEW YORK -- As reported by Bloodhorse: "Stevenson and Associates is in the process of lining up potential investors for SimulTech, a company formed to operate an offshore wagering hub that would accept bets on United States racing from foreign countries.

``Stevenson and Associates, a simulcast and wagering consultant for industry participants including racetracks and horsemen's groups, said in February the hub would be operational by the spring.

``They've sent out private placement offerings to about 10 possible investors," said Laura D'Angelo, an attorney for Stevenson and Associates. "They are in various stages of discussing investment (in SimulTech) with individuals and companies. They have a minimum amount of capital they'd like to hit."

``A location for the hub hasn't been selected, she said.

``...The hub would be designed to develop simulcast revenue from the Caribbean, Central America, South America, and perhaps the South Pacific. The National HBPA has said it believes tens of millions of dollars in revenue is falling through the cracks because of unregulated simulcasting and signal piracy..."

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