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