Heavy debts might thwart Stanely's intentions to tender for 24 casinos
27 January 2005
After the UK gambling law relaxation and Government's reconsideration of planting only 8 additional "super casinos" plus 17 medium or small sites, Stanly Leisure, the renowned gaming corporation has come out with an announcement that it would consider tendering for all the 24 casinos, permitted under the new legislation. Stanley has already taken steps towards the implementation of regional casinos in the UK, by clamping with Malaysian firm Genting and is currently trying to explore all the possible new casino opportunities. The chief executive, Bob Wiper has promised to review the tendering for 24 casinos.
Stanley, however, has not provided ample evidence that its luck is veering after experiencing a string of bad luck, including sever losses to a major player at its London casinos. In spite of the pre-tax proceeds that have climbed up by 14% in the lapse of six month up to October 31, it has been confirmed that this year records are not likely to supplant the last year grand figures. This was accompanied by the heavy unpaid debts Stanley has suffered from at its casinos and lamentable sporting outcomes at its 600 bookmaker chain. These debts might not be recuperated before the end of its financial year in March.
Stanley has mentioned that at the time of adverse racing results, Premiership title challen- gers, Arsenal, Manchester United and Chelsea were relishing in their victorious runs.
Source: Online Casinos News Staff
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