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Leisure & Gaming says sports betting weak

September 25, 2006

Internet gambling firm Leisure & Gaming reported an eight percent decline in first-half profit on Monday, and warned second-half sports betting was weaker than expected.

"The first half is traditionally the slower half of the year and it is disappointing, however, that our performance as we enter the main sportsbook trading season has been weaker than our expectations," said Chief Executive Alistair Assheton.

Profit before tax was $6.8 million (3.6 million pounds) in the six months to June 30, compared to a pro forma result of $7.4 million (3.9 million pounds) in the same period last year.

"While I remain confident in the prospects for the group, the board is taking a prudent view that we may not meet external expectations in this financial year," added Assheton.

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