Leisure & Gaming buys Stanley Leisure's online casino business

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Leisure & Gaming buys Stanley Leisure's online casino business

LONDON (AFX) - Leisure & Gaming PLC said it has acquired Stanley Entertainment NV, the online casino business of Stanley Leisure PLC (LSE: SLY.L - news) , for 1.86 mln stg in cash and a potential deferred payment of up to 280,000 stg.

Leisure & Gaming will gain further UK and European revenue streams and an extended customer base for its international business and it said the purchase also complements the VIP Group business, which Leisure & Gaming acquired in June 2005.

Leisure & Gaming and Stanley Leisure have also agreed a strategic partnership which will see Leisure & Gaming becoming Stanley Leisure's chosen partner for developing their brands and assets online, leveraging Leisure & Gaming's operational and product infrastructure.

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