Gambling overhaul boosts Stanley Leisure
Stanley Leisure today reported a surge in visitors to its provincial casinos after the British government relaxed restrictions on gaming.
Stanley said attendance rose by 17.2% during the six months to the end of April following the deregulation of the UK gaming industry in October, which lifted the rule forcing new punters to register 24 hours in advance and scrapped limits on jackpot prizes.
The introduction of a smoking ban in Scotland on March 26 had not put people off visiting its casinos in Edinburgh and Glasgow so far, the company added.
But finance director Colin Child said there was some evidence that the amount Stanley was taking off each punter was marginally lower as people left the building to light up.
“Certainly there has been some evidence that it’s having an impact on playing habits because people do nip outside to have a quick smoke rather than sitting at the table and carrying on playing,” he said.
His comments on the impact of the smoking ban and the relaxation of gaming rules echo those of Rank, which owns Grosvenor Casinos as well as the Mecca Bingo chain.
In a trading update last week, Rank said a modest reduction in attendance levels in Scotland had been overshadowed by a sharper decline in the amount spent by each visitor.
Meanwhile, revenues at Grosvenor Casinos around the UK were 12% higher due to deregulation with provincial locations benefiting more than its sites in the capital.
Stanley operates Crockfords, The Colony Club, The Mint and The Palm Beach casinos in London – in addition to 40 sites in cities including Bristol, Liverpool and Birmingham.
It also has an international betting business, but no longer keeps a presence on the high street after selling its estate of bookmakers to William Hill for £504m (€734m) in June.
Douglas Jack, an analyst at Panmure Gordon, believed that Stanley had now recovered the £5.3m (€7.7m) drop in gaming profits seen in the first half of its financial year due to improved trading in London and increased footfall in the provinces.
“This would also have been helped by a combination of refurbishments and a 108% increase in the number of slot machines and electronic roulette terminals,” he said.
According to Mr Child, all the casinos in London were busier than usual as foreign visitors returned to the capital after putting off trips in the wake of the July bomb blasts last year.
Since the start of this year, Stanley has been granted new licences for casinos in Nottingham, Liverpool and Sheffield and has applied for five more.
Stanley added that its international betting business was trading well and had benefited from good sporting results, particularly in football’s Champions League.
