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Company snapshotLeisure & Gaming plc is a UK based holding company providing comprehensive online and land-based betting and gaming opportunities to customers in emerging, regulated European markets under the brand name “Betshop”. With operating subsidiaries in the UK, Italy, Cypus and Greece the company is focused on establishing its brands as the gaming destination of choice for customers in these maturing territories while spreading its geographic reach as newly licensed or liberalised markets open. The gaming environment that Leisure & Gaming’s brands deliver is accessible, entertaining, fun and secure; the brands themselves are innovative, competitive, fair and trusted. The main operations consist of: • Betshop Italia: An online sports betting service supported by a franchised “partner” network of approximately 580 (January 2010) Betshop-branded “punti remoti” shops and retail outlets across Italy, with concentration in central Italy and the south, offering sports betting via terminals and, via its new “Bersani” licences, across the counter. Diversification of product into skill games and slots is being trialled.
• Betshop.com: A pan-European online sports betting, casino and poker business operating in eight languages.
• GoalsLive.com: A soccer information and results portal service for Internet and mobile phone users.
Between them, these companies hold gaming licences from the Netherlands Antilles, Cyprus and Italy.
The Betshop model rigorously developed in Italy has been successfully imported into Betshop Cyprus with 2008 seeing the number of local partners increase by 40% and results ahead of forecast. It is anticipated that Betshop will now be extended into Greece as the company continues to expand its geographic diversification.
The amounts staked on all our products in the year to 31 December 2008 were €119.2m.
Financial highlights for 3 months to 31 March 2010 • Amounts wagered €37.0m (Q1 2009: €31.9m)* • Net win €5.8m (Q1 2009: €8.7m) • Net win margin 15.7% (Q1 2009: 27.3%) • Gross profit €1.2m (Q1 2009: €2.8m) • Overheads static at €1.0m (Q1 2009: €1.0m) • Net profit before interest and tax €0.2m (Q1 2009: €1.8m)
Key business performance indicators for quarter 1 • Increased business volumes remains encouraging • Continued success of poker in Italy • Sports margins lower than management’s expectations Introduction of B2B business – proprietary betting software for businesses to drive customer revenues
*Accounting convention defines amounts wagered as sports betting volume, casino and skill games net win and poker rake. The figure of amounts wagered in the table above includes poker tournament fees €16.0m (Q1 2009: €10.9m) instead of poker rake €2.1m (Q1 2009: €1.7m), as the Directors believe this more clearly shows the level of business generated by the Group.
The company has a clear commitment to responsible gaming and makes stringent efforts to prevent under-age or compulsive gambling, money laundering or fraud on its websites.
Leisure & Gaming was incorporated in England and Wales in August 2004 (registered number 5202461). Leisure & Gaming was listed on London’s Alternative Investment Market (AiM) under the symbol ‘LNG’ in September 2004. |
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© 2010 Leisure & Gaming plc |
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