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Stanley Leisures Not Affected by Scottish Smoking Ban
Stanley Leisure, Britain's biggest casino operator, said that its business in Scotland had not been affected by the smoking ban. The smoking ban which introduced in March has not had a material effect on their four casinos Scotland. On the contrary the company posted a near doubling in annual profit.
Stanley, which has three of its 41 casinos in Edinburgh, including Cascades in Leith, said it made a pre-profit on continuing operations of 31.9 million UK Pounds in the year to April 30, a rise of 97 percent on the previous year on revenues that were two percent higher at 224.8 million UK Pounds.
In June 2005, the Liverpool-based firm sold its retail betting operations to bookmaker William hill for UK Pounds 504 million, netting Stanley a profit on the deal of UK Pounds 340.1 million.
Chief executive Bob Wiper described the performance as "satisfactory" in what he said had been "a strategically important year", He added: "We have made significant progress in our five year development program and this, combined with Stanley Leisure's strong pipeline of new licenses, positions the gaming industry."
Stanley also reported high levels of business for its international betting arm with turnover up 27 percent to 32 million UK Pounds and operating profit up 90 percent at 5.5 million UK Pounds.
Wednesday, 09. 2006
Brian Letendre