On a cursory look at today's press release, and without making any phone calls to my research people in the industry, I have picked out the following highlights, which are my opinion only: Highlights: 1. A 3-year exclusive, renewable for another year at NYRA’s option. 2. Jockey Club partnership, which I presume also provides Equibase premium content to be added to Daily Racing Forum content – combined gives best racing content available for US racing. 3. NYRA handles $1.7bn in New York-based wagers – expect quite a bit to shift onto wireless, as it eliminates the queues on the track for making bets. Also, expect an increase in NYRA’s handle at the expense of the OTBs, as people will bet online and through wireless rather than go to the betting shop. Sona should be receiving gross somewhere north of 1% of the handle I would expect. 4. NOTE that NYRA also can offer bets on TVG and TrackNet content, ie it includes CHurchill DOwns tracks as well as Magna. 5. This clearly sets a new technology benchmark for horse wagering. Given Sona’s content partners, as well as technology partners (Motorola and the Jockey Club of the USA), expect other deals to be shortly forthcoming to Sona from other tracks (Del Mar already in place) and also the OTBs. 6. Expect this to go nationwide to the other 39 states where online and wireless horse wagering is legal, as there are no physical boundaries to overcome. In fact, the only limitation would be the TVG contract, which is up at the end of the year anyway.

Cash-generating business