Leisure & Gaming plc has announced its preliminary results for the year ended 31 December 2006. The AIM-listed company operates the three gaming divisions of BetShop; BetShop Italia, a franchised chain of over 1100 retail gaming outlets across Italy; BetShop.com, a pan-European online sports betting and casino betting business in 8 languages licensed in Malta; and GoalsLive.com, a soccer information and results portal for Internet and mobile phone users. It also runs a small online casino business Grouse Entertainment NV.

The company is seeking to expand its franchised sports betting and gaming network into the Central and Eastern European markets including Poland, Czech Republic and Romania, and also in Lebanon. L&G have announced significant growth of 247% in turnover and 187% growth in net win to US27.4 million and a 200% growth in active customers. In October, before the signing of the Unlawful Internet Gambling Enforcement Act in the US, L&G sold all its US-facing subsidiaries for a nominal US$1.

Henry Birch, Chief Executive of Leisure & Gaming plc, said: “2006 was a challenging year for L&G and the online gaming sector. Disposing of our US-facing assets dramatically impacted our business, but having successfully restructured our operations we are now well-positioned to capitalise on growth opportunities throughout Europe, particularly Betshop Italia's leading position in the Italian sports betting market.

'Comparative trading for 2006 over the previous year shows triple digit growth and we are delighted that trading this year is already ahead of management expectations. Our business model, combining online operations with a land-based franchise network, allows us to enter new markets and grow rapidly with minimal capital outlay. The recent ECJ judgment in the Placanica case is encouraging for L&G, as it implies that further European betting markets will be forced to open up and liberalise.” (E-03.22.07)

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