Successful gambling site enjoys healthy profit in the UK

Published on: September 29, 2007 

The gambling industry has expanded in the UK in the past few years. More and more people choose to stay at home to play their favourite gambling games. It is a fact that (especially since the smoking ban was installed) bingo halls and regular casinos have noticed a significant change in the number of players frequenting their businesses. The prices of drinks and the fact that people often have to travel to get to a specific bingo hall or casino property adds to the fact that it just is so much more convenient to stay at home.

This growth of online player numbers and the new regulations regarding advertising online casino games in UK publications (most online gambling sites are now allowed to advertise in the UK) have added to the success to some of the largest online casino and gambling companies such as Leisure & Gaming (L&G). This large company is essentially a popular online gaming site and also a betting firm operating many different successful gaming websites such as the well-known, attracting thousands of players a day, and its relatively new Acropolis named online casino site. L&G have now announced that they have recently received an exciting financial offer for a buyout by the Irish CGTV Games Limited company.

The L&G Company has now decided to sign and exclusive agreement with CGTV. This is an exclusivity agreement and will run until the end of October. CGTV is a successful online casino software manufacturer and has provided many different online gambling sites all over the world with their software programs. The deal between the two companies could result in a situation where CGTV will actually purchase the entire amount of share capital from L&G at a rate of 13 Pence per share.

L & G have now announced their very good financial results for the first six months of 1healthy results for the six months of 2007 and the figures show a 75 percent rise in turnover of €65.4 million. This means that the company enjoyed a growth of over 44 percent rising to a net profit of €13.9 million compared to the profits over the exact same period over the last year.

L&G is not the only UK Company to enjoy such a successful first half of the year. Overall figures have shown that there is not a single online casino and betting company that has not see a slight rise in their profit figures and most companies focus on offering incentives in their advertising companies. Most casino websites offer first time players a free amount of bonus playing money when someone becomes a member of a site.

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