BIG CHANGES AT LEISURE AND GAMING
9 November 2007
Online gambling company still up for takeover
negotiations
Following the termination of its talks with the Canadian
company CGTV Games last month (see previous InfoPowa
reports) the online gambling group Leisure and Gaming
plc is still amenable to takeover talks if the right
suitor is involved, it appears.
Announcing the results of a strategic review, the
company's CEO Henry Birch said it was still negotiating
with unspecified entities, but was pressing ahead with a
restructuring plan focused on five key strategic
initiatives including product, channel and geographic
diversification. The firm has also announced a
restructuring that will see customer services and
administrative functions transferred to a new operation
centre in Italy, where its Betshop brand is active.
L & G has reviewed its risk management policies and will
strengthen its team in that area, and it has already
restructured its partner and franchise commission
operations.
With the prospect of another wave of positive regulation
imminent in Italy next year, L&G said it hopes to expand
business by offering poker, casino and skill games via
its Italian licenses awarded in 2007. There are
additionally plans to market the firm's standalone
betshopitalia.com Internet operation in new markets
starting with Romania, where the first Betshop venture
in that country will open this month.
“We are pleased to set out the focus of the business
going forward, which incorporates significant
opportunities in Italy and beyond," said Birch. "We have
spent the last few months restructuring parts of the
business and, coupled with some of the ongoing corporate
discussions we are having, feel that we are in a strong
position to deliver value to shareholders.”
Online Casino News courtesy of
InfoPowa
More news here.
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