Stanley Leisure sees footfall drop

Stanley Leisure the operators of Land Based Casinosin the UK, warned that attendances had dropped at its central Londoncasinos, with the recent bombings in the capital thought to have scaredoff some of its elite clientele. Lord Steinberg, chairman, saidyesterday that the group had a "satisfactory" start to the financialyear, with its provincial casino estate trading in line withexpectations.

But attendances and revenues at the group's central London casinoswere down during what Lord Steinberg said was a "traditionally busyperiod". The falls, he added, were "consistent with broader trends seenamongst London-based leisure and retail operators". Woolworths, MossBros and Hobbs have all blamed declining sales on the July attacks.Stanley's London casinos include Crockford's and Colony, which are bothpopular with high-spending players.

Paul Leyland, leisureanalyst with Seymour Pierce, questioned whether the attacks would havehad a significant impact on customers likely to visit the two casinos."Not even Colony, and let alone Crockford's, is remotely exposed tohigh-street trends, and high-rollers are not measured in terms of'footfall'," he said.

Stanley Leisure, which recently sold itsbetting shop portfolio to William Hill, has submitted applications forfive new casino licences under the 1968 gaming act. Following changesto gaming legislation the group will soon be allowed to install moreslot machines and, for the first time, advertise its casinos.

Thegroup also intends to bid for casino licences that will be issued underthe new laws. There will be 17 such licences, including one for a LasVegas-style resort.

Press Release - 2005-09-09 13:02:51




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