London Clubs International PLC
12 September 2005
London Clubs International plc
AGM Statement
Michael Beckett, Chairman of London Clubs International plc, made the following
comments at the AGM, held today:
'Since the announcement of our preliminary results in July, trading in our
London casinos has been lower than the levels experienced in what was a very
strong first half last year. Not surprisingly, and consistent with other
operators in London, there has been some impact as a result of the July
terrorist attacks, particularly at the high end. More recently, however, we
have seen improved levels of business throughout our operations.
In the provinces our two casinos have traded at a similar level to the prior
year. Overseas, the Emerald in South Africa continues to benefit from a vibrant
local economy with strong trading in all areas of the resort. Our two
operations in Cairo have also enjoyed good levels of business.
Plans are now well underway to develop both our existing estate and the five
newly acquired licences in the provinces, to take advantage of the benefits of
deregulation as the various measures are introduced. Next month the 24 hour
rule will be relaxed and the numbers of slot machines permitted will be doubled
together with increases in stakes and prizes. We have applied for an additional
licence in Leicester Square and anticipate that a decision will be made in
November.
We continue to believe that the Group is well positioned to maximise the
opportunities presented by the changes to gaming legislation in the UK.'
12 September 2005
Enquiries:
London Clubs International plc
Bill Timmins, Chief Executive +44 (0)20 7518 0000
Linda Lillis, Finance Director
College Hill Associates
Matthew Smallwood +44 (0)20 7457 2020
This information is provided by RNS
The company news service from the London Stock Exchange
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