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High rollers limit Stanley Leisure’s results
Gaming group, Stanley Leisure, has announced its half-year results with a series of big wins totalling £10m from high-rolling gamblers at London’s Crockfords casino dealing a serious blow to its profits.
A handful of gamblers rode a lucky streak that destroyed profits at the 175-year-old Crockfords casino as it struggled to break even over the six month period to 26 October 2003, having made record profits of £10.6m on the same period in the previous year.
As a result, Stanley’s pre-tax profit dropped 13 per cent to £20.6m.
However, turnover was increased by strong growth in every other sector of the group, especially from fixed-odds gaming machines in betting shops, with income from this rising from £15m to £247m, raising group turnover to £752m.
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