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L&G REQUESTS TRADING SUSPENSION
5/22/10 - Shock news on Friday is that Leisure and Gaming plc has requested that trading in its shares be suspended, citing a lack of working capital, although the company is in early discussions with unidentified parties with a view to obtaining further funding.
According to Reuters reports, the management may be considering the disposal of certain elements of the company’s assets, although the market was assured that there was no expectation that any offers would be made for the group. In the meantime, all the group businesses continue to carry on business as usual.
Reuters and stock exchange reports comment that the company, which has a strong Italian presence, appears to be facing cash flow problems, hence the possible tactic of selling off part of its businesses.
Management have reported that its problems stem from poor sports betting margins arising from the repeated success of dominant football teams across Europe since the start of the year, points which it raised in its most recent financial reportage.
Group directors report that they are in “early stage discussions” with as yet unidentified parties in the hope of negotiating further funding. In tandem with this, a strategic review is in progress to examine the viability of selling "certain businesses and assets in its portfolio.”
Leisure & Gaming plc is a London 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”.
Betshop is the group's principal operating subsidiary, with experience in Italy, where it has over 700 betting shops, and Mediterranean markets. The company is also active in the UK, Cyprus and Greece.
In October 2006, after passage of the UIGEA, the company sold its US-facing business including vip.com and nine.com to a private group for $1, and no longer accepts wagers from US residents.
3 Top Bitcoin Poker Sites -
Bitcoin, in particular, is a cryptocurrency that you can use on various online poker sites and it allows a faster and cheaper way to get money into and out of the online poker site.
Kentucky Derby Odds: Justify still Favorite -
With all the races on the Road to the Kentucky Derby complete, Justify is still on top of the odds list at 4/1. But he’s got company: Mendelssohn (9/2), Audible (11/2) and Magnum Moon (8/1) are all very much in contention for the big race on May 5.
888Poker Takes Over the States -
With more and more states moving toward online casino integration, an increasing number of international players are moving in on American territory. Who will take the crown of the most popular online poker venue in the United States?
Top gambling ICOs to watch this year -
The gambling ICOs that are being launched in 2018 are of better quality. Unlike the last half of 2017 when ICOs were numerous, the first few months of 2018 have seen a big drop in number.
MPN Poker Tour Bratislava | Day 2 -
It was a hard fight around the bubble, culminating in the elimination of Georgios Drakakis in 46th place. He received a surprise consolation entry into the next MPNPT stop in Sunny Beach, Bulgaria (5-8 July), which softened the blow of missing out on a €900 min-cash.
MPN Poker Tour Bratislava Day 1B -
Dorey Captures Chip Lead After MPNPT Bratislava Day 1b Triples 1a Field Size. The second flight of the €550 MPN Poker Tour Bratislava Main Event is in the bag, and so are the chips of 97 players who will be returning along with the 26 Day 1a survivors to fight to the money and beyond today
MPN Poker Tour Bratislava Day 1A -
The MPN Poker Tour has arrived in Bratislava for the very first time, bringing with it the Tour’s friendly mix of local and globe-trotting poker enthusiasts, pros and qualifiers to the beautiful Slovakian capital.
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