Casinos.co.uk: Casino News Archive
Tuesday 6th November 2007
Gaming Group Still Keen on Buyout
Online gambling group Leisure and Gaming has announced that it would react favourably to a takeover if the right suitor were involved.
The statement from the London-based firm follows the termination of talks last month with Canadian company CGTV Games and came as the company publicised the results of a strategic review.
Henry Birch, Chief Executive Officer for Leisure and Gaming stated that the company was negotiating with unspecified entities but was continuing with a restructuring plan focused on five strategic initiatives including product, channel and geographic diversification. As part of the plan, the firm is transferring its customer services and administrative functions to a new operation centre in Italy where its Betshop brand is active.
The company stated that it had reviewed its risk management policies and would be strengthening its team as it had already restructured its partner and franchise commission operations.
Leisure And Gaming is hoping to expand its business by offering poker, casino and skill games via an Italian license with the prospect of positive regulation next year. It stated that it plans to market its stand-alone BetShopItalia.com operation in new markets beginning with Romania.
“We are pleased to set out the focus of the business going forward, which incorporates significant opportunities in Italy and beyond,' said Birch.
'We have spent the last few months restructuring parts of the business and, coupled with some of the ongoing corporate discussions we are having, feel that we are in a strong position to deliver value to shareholders.”
Source:OnlineCasinoNews
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