Leisure & Gaming trading as expected
Leisure & Gaming PLC has said it anticipates that trading for last year will be inline with market expectations, despite a tumultuous year.
The gaming group, who sold off its U.S operations for $1 last October, saw its shares fall by 93 per cent in the space of a few months. The news that the company foresees its revenues substantially above previous forecasts may not come as a complete surprise as Leisure & Gaming have been very active in expanding their operations into Europe.
In June of last year, they acquired BetShop Group with its website, betshop.com, operating in eight European languages. Leisure & Gaming also operate over 600 retail sites under the brand BetShop Italia, with this network set to be extended following the announcement that Leisure & Gaming have been granted 47 licences for horse racing and betting shops.
However, the company also announced that expects gross profit to fall due to taxes in Italy charging on revenue rather than net win. Its sports betting margins are also said to be below predictions following unfavourable sport results.
Editor, Jackpot.co.uk - 2007-01-09 11:41:28