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London Clubs International

Companies: LCI   
11/12/1998

Figures for the 26 weeks to September show a decline in profits for the casino business of London Clubs. Turnover fell to £79.7m (£85.7m) and the pre-tax line slumped from £14.3m to £10.9m. To be fair last year's results are not directly comparable as there has been an increase in gaming duty. The relocated London casinos are apparently helping to secure market share although the market in London dropped 10% during the period. The overseas casinos in Egypt produced strong performances but Hurghada (on the Red Sea) suffered from a drop in tourist numbers. A new casino is planned for Las Vegas and in South Africa the Emerald Safari Resort casino recently opened.

Market cap: £193.2m
Share price: 131.5p

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