RNS Number : 8303Y
  Leisure & Gaming plc
  11 July 2008
   

    11 July 2008

    Leisure & Gaming plc

    H1 Trading Update and Share Placing

    Trading Update

    Leisure & Gaming plc ("L&G" or "the Company"), the betting and gaming group, provides a trading update for the 6 months to 30th June
2008.  Trading has been in line with market expectations and continues the profitable growth of the company:

    Half year to 30 June 2008:

    *     Net win of EUR12.8m (vs EUR13.9m for the equivalent period in 2007)
    *     Gross profit of EUR3.4m (vs EUR1.2m for the equivalent period in 2007)
    *     Estimated EBIT of EUR1.2m (vs EUR1.4m loss for the equivalent period in 2007)
    The Company expects to have its full estate of Italian shops operating under new Bersani licences open by the start of the football
season. The Company also expects to be able offer online poker throughout its retail network and to Italian online customers before the end
of the year.  

    Share Placing

    The Company is pleased to announce that it has raised �553,000 by way of a share placing with participation from Andrin Bachmann and
Edouard Mercier of, in aggregate, 9,216,000 new ordinary shares of 5 pence each ("Placing Shares") in the capital of the Company at 6 pence
per new ordinary share. 

    The net proceeds of the placing will be used to obtain an Italian online licence and to make further improvements to the Company's
operating platform.

    The Placing Shares will, when issued, rank pari passu in all respects with the existing ordinary shares. The placing is conditional on
the Placing Shares being admitted to trading on AIM ("Admission"), application for which has been made to London Stock Exchange plc. 
Admission is expected to occur on 17 July 2008.  On Admission, the Company will have 94,122,692 ordinary shares in issue.

    The above figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required
to notify their interest in, or a change to their interest in, L&G under the FSA's Disclosure and Transparency Rules. 

    Following Admission, Andrin Bachmann and Edouard Mercier will each have an interest in 3,208,000 million shares in Leisure and Gaming
plc, in each case representing 3.41% of the issued share capital of the Company.

    Henry Birch, Chief Executive of Leisure & Gaming said:

    "We are delighted to announce strong trading for the first six months of the year.  Whilst some of our larger competitors have struggled
in the Italian market, it is clear that our approach - benefiting from a localised product and local experience, backed up by a strong brand
and distribution - is paying dividends.  The promise and potential of the Italian market is becoming a reality and as a company we expect to
be front and centre in reaping those rewards.  We will continue to make operational improvements over the quieter summer months and look
forward to the start of the football season and a strong fourth quarter, which historically yields the highest trading volumes. 

    "We are very pleased to announce Andrin Bachmann and Edouard Mercier's investment in the Company. Andrin and Edouard are successful
entrepreneurs in their own rights and have an extremely impressive active investment record.  We intend to use the capital raised to acquire
an Italian online licence and strengthen our operations so that we can take further advantage of growth opportunities." 

    The Company's Annual General Meeting will be held at 11am on 31st July 2008 at Financial Dynamics, Holborn Gate, 26 Southampton
Buildings, London, WC2A 1PB.  

    - Ends -

    For further information, please contact:

    Henry Birch, Chief Executive, Leisure & Gaming plc
    Tel: 020 7248 6343

    Jonathon Brill/Billy Clegg/Caroline Stewart, Financial Dynamics
    Tel: 020 7831 3113

    William Vandyk, Blue Oar Securities Plc
    Tel: 020 7448 4400


This information is provided by RNS
The company news service from the London Stock Exchange
 
  END 
 
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