RNS Number : 2677A
  Leisure & Gaming plc
  31 July 2008
   

    31 July 2008

    Leisure & Gaming plc

    AGM Statement 

    Leisure & Gaming plc ("Leisure & Gaming" or "the Company"), the betting and gaming group, will be holding its Annual General Meeting
("AGM") today at 11.00am at Financial Dynamics, Holborn Gate, 26 Southampton Buildings, London, WC2A 1PB.    At this, the following will be
announced:

    Chief Executive and Directorate Change

    Leisure & Gaming plc today announces that following the successful turnaround of the Company to a stable and profitable position, chief
executive Henry Birch has decided to step down from the Board to pursue other interests.  The Company is pleased to announce that Richard
Creed, Leisure & Gaming's current chief financial officer, has been appointed Chief Executive.  The Company's finance function will continue
to be overseen by Richard Creed with the assistance of Paul Milburn, the finance director of the Betshop Group (the Company's main
subsidiary).

    Trading and Operational Developments

    As announced on 11th July, trading for the first half of the year has been line with market expectations with an estimated EBIT for the
period of EUR1.2m.  The Company expects to have its full estate of Italian shops operating under new Bersani licences by the start of the
football season in mid-August, and also expects to be able to offer online poker throughout its retail network and to Italian customers
online before the end of the year.  

    The Company will continue to focus its efforts on growing the business in the Italian market, where based on turnover it is the largest
foreign owned betting operator, and overall fourth largest betting operator, with 470 retail outlets.

    The Company expects to publish its interim results for the first six months of 2008 in August.  

    Henry Birch, outgoing Chief Executive of Leisure & Gaming said:

    "With the Company successfully restructured post-UIGEA and returned to profitability and stability, I feel the time is right for new
challenges. We are very fortunate to have in Richard Creed, an experienced and effective executive with strong sector experience, who can
continue to grow the Company and take it to its next stage of development.  I leave the Company in good shape and in safe hands."

    Philip Parker, Chairman of Leisure & Gaming said:

    "We are extremely grateful to Henry Birch for all his hard work over the last two years and the impressive job that he has done. We are
delighted to appoint Richard Creed as our new chief executive and, having worked with him closely, know that he has the skills and
experience to take the Company forward. We feel the Company is in a very strong position to continue to grow and capitalise on the many
opportunities in the Italian market."



    For further information, please contact:

    Richard Creed, Chief Executive, Leisure & Gaming plc
    Tel: 020 8150 5718

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

    William Vandyk, Blue Oar Securities
    Tel: 020 7448 4400 














This information is provided by RNS
The company news service from the London Stock Exchange
 
  END 
 
AGMSDUFWSSASESW
Leisure & Gaming (LSE:LNG)
Historical Stock Chart
From Jun 2024 to Jul 2024 Click Here for more Leisure & Gaming Charts.
Leisure & Gaming (LSE:LNG)
Historical Stock Chart
From Jul 2023 to Jul 2024 Click Here for more Leisure & Gaming Charts.