Stanley Leisure says new gambling laws increasing attendance |
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Published
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Wed, 25 Jan 2006 20:20
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LONDON - Stanley Leisure PLC, the largest casino operator in Britain has said that the new laws put in place by the Government had ensured that gamblers had started frequenting the regional outlets in increasing numbers.
Stanley Leisure added that there was a 15.7 percent increase in the number of customers at its outlets since the new laws came into effect in November and December. The British Government's Gambling Act will only come into effect next year, but operators have been given some freedom, which was heartily welcomed by Stanley Leisure.
"Although still early days in the deregulation of the gaming industry, we are very encouraged with the growth in attendance levels in the first few weeks since the relaxation of admission rules and other changes became effective," said Bob Wiper, the chief executive of the company. "This growth reinforces the group's decision to invest over £100 million during the next five years to increase capacity in our estate."
Some of the rule relaxations include the abolition of the '24-hour membership' admission guideline as well as freedom to operate casino machines with bigger stakes and prizes. "We're looking forward to a strong second half, with the footfall in our provincial estate at worst matching our expectations and at best beating it and a much better performance in London," Mr Wiper told reporters.
But the group said that first half profits had been hit by the London bombings in July and had dropped to £22.2 million from £24.5 million. Overall sales also fell to £136.8 million from £151.9 million at the same time in the previous year. Stanley Leisure shares increased by 18 pence to 708 pence in early trading. The company also announced a 10 percent increase in interim dividend to 3.3 pence.
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