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Leisure & Gaming Raises More Cash

Land and online gambling firm Leisure & Gaming revealed this week that trading for the first half 2008 has been in line with market expectations and continues the profitable growth of the company.
The company reported that it has raised GBP 553 000 via a share placing of 9.22 million new shares at 6p, proceeds from which will be used to obtain an Italian online licence and to make further improvements to the group's operating platform.
The betting and gaming group said that for the six months to June 30th it saw a gross profit of Euros 3.4 million versus 1.2 million for the same period last year with an estimated EBIT of Euro 1.2 million compared with a Euro 1.4 million loss last year. Net win of Euros 12.8 million was down compared to the Euros 13.9 million for the equivalent period in 2007.
"We will continue to make operational improvements over the quieter summer months and look forward to the start of the football season and a strong fourth quarter, which historically yields the highest trading volumes,' CEO, Henry Birch, said in a statement.
The company added it expects to have its full estate of Italian shops operating under new Bersani licences open by the start of the football season and anticipates being able to offer online poker throughout its retail network and to Italian online customers before the end of the year.

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Gambling News :

Phil Ivey Loses Borgata Casino - Phil Ivey has lost in his four-year legal tussle with the Borgata over baccarat winnings; on Friday a US federal judge ruled that he and a companion violated New Jersey state gambling regulations in the manner in which they won nearly $10 million playing at the Atlantic City casino.

NYX Gaming in deal with Endemol - "Endemol Shine’s IP will be a strong addition to the NYX portfolio of content and we look forward to working together to bring additional instantly recognizable brands to market.”

NEW CAMBODIAN GAMBLING LAWS - After more than two years of debate and drafting, Cambodia may be closing in on final agreement regarding its proposed gambling law changes.

Congress To Review US SportsBetting Restrictions - Did the American Gaming Association’s campaign influence the decision to take another look at the 1992 Professional and Amateur Sports Protection Act?

Playtech Acquires ECM Systems - Online gambling soiftware provider Playtech plc has announced the acquisition of a ninety percent stake in UK bingo software developer ECM Systems for a consideration of GBP 14.9 million.

Marks and Spencer store Manager steals to Gamblie Online - The Cambridge News reports that a 28-year-old manager of a Marks and Spencer store, Martin Trenor, has been jailed for three years for stealing GBP 254,538.11 in shop takings over the course of a year and spending it almost immediately at online gambling websites.

Chinese Gambling crackdown could damage high roller revenue - Fast-moving events this week have seen Australian media reports quoting hundreds of millions of dollars wagered by Chinese high rollers in Aussie land casinos, offset to some extent by Crown claims that this whale gambler" demographic generates only 12 percent of turnover.

EvenBet Open Face Chinese Poker - Open Face Chinese Poker online games provider EvenBet has reported that its Open Face Chinese Poker product is gaining traction with games recently integrated for desktop action at the Malta-licensed operational site Poker Grant.

PartyPoker Millions tournament guarantee Now GBP 6 million - Online poker operator PartyPoker announced Thursday that it is to boost its PartyPoker Millions tournament guarantee by a million sterling to GBP 6 million, claiming it is now the biggest prize pool guarantee in European poker history.

2016 EPT Malta - The European Poker Tour is off to a good start in Malta, with German pro Dietrich Fast claiming a well-earned Euro 174,000 main prize in the Euro 10,000 buy-in Single-Entry Rebuy event.

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