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Stanley lifted by change to gambling law



Printer Friendly VersionPost a CommentTell a Friend about this Article26 January 2006
As reported by: The Scotsman
SHARES in Stanley Leisure gained nearly 3 per cent yesterday after Britain's largest casino operator said punters were streaming into its regional outlets in the wake of the government's liberalisation of the nation's gambling laws.

Bob Wiper, the chief executive, hailed a 15.7 per cent increase in attendance at its regional casinos during November and December. He said Stanley Leisure was "very encouraged" by the effects of the early freedoms granted to casino operators ahead of the Gambling Act coming into force next year.

These include the removal of the 24-hour membership admission rule and allowing more slot machines into casinos with higher stakes and bigger prizes.

The shares ended 2.9 per cent higher at 710p, despite the company posting falling profits for the six months to the end of November - hit by the after-effects of the London bombings in July. Profits before tax and exceptional items fell to £22.2m from £24.5m in the year-earlier period.

Investors were cheered by a 10 per cent increase in the dividend to 3.3p.


Article By: The Scotsman

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