Youbet.com Rises After President Quits

Author:
Publish date:

Online wagering company

Youbet.com

(UBET)

rose 18.9% in preopen

Island

trading after its president and COO, A.L. Frank, resigned. The company also said it would cut 34 jobs, or 29% of its workforce. The company said cuts will give it the cash to develop its core horse racing business.