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US – Virtual Live Racing appoints senior executive to build US B2B presence

By - 7 July 2020

Isle of Man-based company Virtual Software is hoping to hit the States hard with Virtual Live Racing (VLR), which recently launched a brand new concept in live virtual racing pari-mutuel betting products that are a first in the USA and internationally for regulated operators.

The company has appointed online wagering and racing industry executive Joey D Michaels as part of their senior management team to build its presence in the US.

Joey D Michaels, VP of Business Development of VLR, said: “I’m delighted to join the management team and drive our distribution and growth plans throughout the US. We already have a number of track partners that are live including Derby Lane and Tampa Bay Downs in Florida. Five other tracks are signed and are soon to be launched, including Hawthorne in Chicago, and Parx in Philadelphia – but I will be looking to secure more partnerships before the end of the year. We are offering racetracks the opportunity to extend their brand beyond the real-world racing calendar, reach millions of new players, and create new revenue lines and sponsorship opportunities via digital branding in virtual races.”

VLR Chairman Vincent Caldwell said: “We are delighted to have recruited Joey whose knowledge, experience, and reputation in the industry will play a major role in driving the business forward in the US.”

Mr. Michaels’ main responsibilities will be to build relationships with track owners and online Account Deposit Wagering (ADW) betting operators to drive expansion into tracks, casinos, and off-track betting outlets. He has 35 years’ experience in senior management roles within the horse racing industry, including positions as director, vice-president, president, CEO, and business owner/operator. For the past 20 years he has focused on the online account wagering arena where he was involved in the development, launch, and operation of over 30 gambling sites. In addition to having been an executive within the racing and online gambling industry, he has launched several non-racing related businesses. He has also owned numerous horses that have raced at several US tracks in the North East.

The VLR product developed by Virtual Live Racing is available to all tote systems in the US via distribution through AmTote International’s Spectrum wagering system which enables tracks to accept wagers from players and create a brand new risk-free revenue stream.

The company’s owner, Virtual Software, has a proven track record of innovation in eGaming. Chairman Vincent Caldwell started one of the first online wagering companies in the world which then went on to become the first online wagering company to list on the London Stock Exchange.

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