Re: US operations
October 10 2006 - 6:00AM
UK Regulatory
RNS Number:2180K
Leisure & Gaming plc
10 October 2006
10th October 2006
Leisure & Gaming plc ("the Company")
US operations
Following the passing in the USA of the Unlawful Internet Gambling Enforcement
Act of 2006 (the 'Legislation') and after extensive discussions with our
lawyers, bankers and other advisers, it is the view of the Board that following
enactment of the Legislation it will no longer be appropriate for the Company to
serve US-based customers and that the Company should focus solely on its
existing UK and Italian businesses. As a result the Company is undertaking a
strategic review in order to decide whether to suspend, close or sell its US
operations. In particular, the Company has received a number of approaches and
is at a preliminary stage in progressing discussions which may or may not lead
to an offer for the Company's US-facing businesses. The Board is actively
exploring the optimal route to maximise value for the Company's shareholders.
The Company will further update shareholders in due course.
Ends
For further information:
Alistair Assheton, Chief Executive Tel: 020 7248 6343
Josh Joshi, Chief Financial Officer
Leisure & Gaming plc
Jonathon Brill/Billy Clegg Tel: 020 7831 3113
Financial Dynamics
This information is provided by RNS
The company news service from the London Stock Exchange
END
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