Stanley Leisure Sees Attendance Drop at Land Based Casinos – September 9th, 2005

Stanley Leisure the operators of Land Based Casinos in the UK, warned that attendances had dropped at its central London casinos, with the recent bombings in the capital thought to have scared off some of its elite clientele. Lord Steinberg, chairman, said yesterday that the group had a “satisfactory” start to the financial year, with its provincial casino estate trading in line with expectations.

But attendances and revenues at the group’s central London casinos were down during what Lord Steinberg said was a “traditionally busy period”. The falls, he added, were “consistent with broader trends seen amongst London-based leisure and retail operators”. Woolworths, Moss Bros and Hobbs have all blamed declining sales on the July attacks. Stanley’s London casinos include Crockford’s and Colony, which are both popular with high-spending players.

Paul Leyland, leisure analyst with Seymour Pierce, questioned whether the attacks would have had a significant impact on customers likely to visit the two casinos. “Not even Colony, and let alone Crockford’s, is remotely exposed to high-street trends, and high-rollers are not measured in terms of ‘footfall’,” he said.

Stanley Leisure, which recently sold its betting shop portfolio to William Hill, has submitted applications for five new casino licences under the 1968 gaming act. Following changes to gaming legislation the group will soon be allowed to install more slot machines and, for the first time, advertise its casinos.

The group also intends to bid for casino licences that will be issued under the new laws. There will be 17 such licences, including one for a Las Vegas-style resort.