YouBet.com, Inc. (NDAQ:UBET) shares moved up $0.04, or 1.27% to $3.20 today after New World Opportunity Partners disclosed a 9.3% stake in the company in a Schedule 13D filing with the SEC. The hedge fund also said that it has discussed YouBet.com's business operations, future plans and board makeup with its management and directors. While we do not know the nature of these discussions at this point, New World did express interest in nominating its own director to replace Jay Pritzker depending on share price and industry conditions. The hedge fund also said it mat propose changes to UBET's capitalization, ownership structure, or operations. The company's stock has fallen from a 52-week high of $5.47 in May 2006 to a low of $2.32 before rebounding to its current levels. Still off 14%, the stock could well be the target of some restructuring moves in order to reduce costs and enhance profitability. This makes UBET a stock worth watching, particularly if New World decides to pursue board seats!

Related Companies
Scientific Games Corp. (SGMS)
Boyd Gaming Corporation (BYD)
Station Casinos Inc. (STN)