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It’s not often that a GC appointment affects a company’s stock price. But less than three weeks after Woodland Hills, California-based online gambling company Youbet.com, Inc., hired Victor Gallo, its stock shot up 83 percent, from $1.81 to $3.18. Nasdaq, which had kept Youbet.com’s stock on its “delistment warning list” for more than a year, notified the company that it was no longer in danger. Noting the connection between these events and his hiring, Gallo says, “I am certainly something that [Youbet.com] likes to market to our investors and customers.”

Gallo, Youbet.com’s first in-house lawyer, isn’t exaggerating. As he readily acknowledges, his industry is full of untrustworthy, legally questionable, offshore companies. The fact that Youbet.com, which derives most of its lucre from bets processed online for 80 affiliate horse-racing tracks, is both publicly listed and legally compliant often gets overlooked. “I spend a lot of my time lobbying to make sure that other people � legislators and officers at other companies � know this,” says Gallo.

For example: “When Visa decided to recommend to their banks that they cut off all online wagering activity, that hurt us. We had to. . . show them that we’re different from our peers.”

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