Leisure & Gaming plc
What does it do?
Leisure & 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 519 (September 2008) 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.
• Acropolis Casino: A pan-European online casino.
Isn't this the company that lost a packet when Milan won the Champions League Final?
Ahem, yes they did lose out on that result as a result of failing to hedge the bets it took on a Milan win in the 2007 final, and it’s first half profits were wiped out. However, an email from the CEO this week (posted on ADVFN) confirmed that losses on Milan were only €180k. What lost LNG more money in that period was the unfortunate and tragic postponement of matches in Italy following the death of a policeman during rioting in February 2007. These matches were re-scheduled to the end of the season on 27/28 May during the week and led to bets being placed on single league fixtures (rather than multiples with games from other leagues), where all the favourites won. The loss on these bets was in the region of €950k. Also, normal sports betting patterns were distorted during 2007/08 season following the betting scandal that saw Juventus relegated to Serie B, leading to Serie A and Serie…
