Betting brings Stanley down
A run of poor sporting results has hit profits at gaming group Stanley Leisure.
Reporting full-year figures to 1 May 2005, the group saw its pre-tax profits decline 4 per cent to £40.1m.
The fall came despite a 25 per cent increase in group turnover during the same period.
Stanley, which sold its bookmaking business to William Hill for £504m last month, also announced it will spend around £100m developing its casino business over the next five years as the new UK gaming laws come into effect.
Stanley operates 41 casinos in the UK, including the Star City in Birmingham and Crockfords in London.
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