TIDMLNG 
 
RNS Number : 6444M 
Leisure & Gaming plc 
03 February 2009 
 

3 February 2009 
 
 
Leisure & Gaming plc 
 
 
Unaudited results for the fourth quarter ended 31 December 2008 
 
 
Leisure & Gaming plc ("L&G" or "the Group"), the online betting and gaming 
group, today announces its unaudited fourth-quarter results to 31 December 2008. 
 
 
Financial highlights for Quarter 4 
  *  Amounts wagered up 6% to EUR24.1m (2007: EUR22.7m). 
  *  Net win up 5% to EUR6.5m (2007: EUR6.2m). 
  *  Net win margin steady at 27.0% (2007: 27.3%). 
  *  Gross profit up 11% to EUR2.0m (2007: EUR1.8m). 
 
 
 
Key business performance indicators for Quarter 4 
  *  Italian partner network increased by 65 outlets to 584 (growth of 13%). 
  *  Active partners in Cyprus more than doubled, from 21 up to 47 (growth of 124%). 
  *  Significant growth in new Greek online business. 
  *  Successful launch of real-money poker in Italy on 19 November 2008. 
  *  New casino products launched in Greek market. 
 
 
 
Borrowings 
  *  Bank loans and sterling overdraft converted into a three-year euro loan of EUR1.3m 
  with equal annual repayment geared to business cash flow. 
  *  Repayment of loan note due on 30 June 2009 of EUR0.4m rescheduled over two years, 
  dependent on business performance. 
 
 
 
Richard Creed, CEO of Leisure & Gaming plc said: 
 
 
"The growth in the number of partners in Italy and Cyprus has beaten our 
forecasts and the online offering continues to expand. 
 
 
In particular, the introduction of real-money poker tournaments in Italy has 
been well received. In the six weeks to 31 December 2008, 4,886 unique customers 
played in these tournaments, of which 80% were existing customers. 20% of the 
new poker customers have also wagered on sports events. 
 
 
The rescheduling of bank and loan note borrowings results in annual capital and 
interest repayments being projected to be less than 25% of cash flow over the 
next year. In addition, their conversion into euro takes away the exchange-rate 
risk as the Group's earnings are in that currency. 
 
 
As at 31 December 2008, the Group held cash balances of EUR1.5m, excluding cash 
held in escrow covering guarantees of EUR2.2m. 
 
 
Trading since the New Year has been ahead of expectations, with no reduction in 
customer spending or business activity." 
 
 
The Group will announce preliminary results for the year ended 31 December 2008 
on Wednesday, 15 April 2009 and plans to hold an investor presentation of the 
results on Thursday, 16 April 2009. 
 
 
 
 
For further information, please contact: 
 
 
Richard Creed, Leisure & Gaming plc 
Tel 020 8545 2190 
 
 
William Vandyk, Blue Oar Securities 
Tel 020 7448 4400 
 
 
 
 
 
 
 
 
FINANCIAL RESULTS 
 
 
Fourth quarter ended 31 December 2008 
 
 
In total, the amounts wagered on all our products for the three months to 
31 December 2008 were EUR24.1m (2007: EUR22.7m), earning net win of EUR6.5m (2007: 
EUR6.2m) at a net win margin of 27.0% (2007: 27.3%). 
 
 
Amounts wagered on sports betting were EUR21.7m (2007: EUR20.9m) generating a net 
win of EUR4.6m (2007: EUR5.1m) at a net win percentage of 21.2% (2007: 24.4%). In 
the quarter, the Italian retail outlets contributed 67% of amounts wagered as 
compared to 84% in 2007, reflecting the growth in Cyprus and Greece. The lower 
net win margin reflects the greater number of single bets that arise in Greece, 
which have a lower margin, plus the favourites prevailing in the Italian leagues 
in October. 
 
 
Amounts wagered on horses were EUR0.7m (2007: EUR1.1m) generating a net win of EUR0.2m 
(2007: EUR0.4m). 
 
 
Amounts played on casino products were EUR14.7m in plays (2007: EUR8.8m) generating 
net win of EUR1.0m (2007: EUR0.4m). The launch of casino products for the online 
Greek market has enhanced this business. 
 
 
Amounts played on poker, lotto and skill games were EUR3.7m (2007: EUR1.6m) 
generating net win of EUR0.7m (2007: EUR0.3m). Real-money online poker was launched 
on 19 November 2008 and in the six weeks to 31 December 2008 enhanced the 
amounts played and rake. 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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