Stanley Leisure Issues Profit Warning
U.K. betting and gaming company Stanley Leisure (SLY) on Wednesday placed a warning on its yearend results. The company said it will miss its profit targets this year and will lay off workers at its casinos.
The company's analysts are trimming their pre-tax predictions by 15 percent to £41 million. After the announcement, the company's shares fell 25 percent
Annat Makes ukbetting Stock Purchase
David Annat, the director of ukbetting plc (UKB), recently purchased 20,000 ordinary shares of the U.K.-based sports betting company's stock.
Each share cost 1 pence, and Annat's purchase represents 0.04 percent of the total number of issued shares of ukbetting stock. The group said that following the transaction; Annat owns 0.04 percent of the company's issued shares.
Brown to Stay at Will Hill, For Now
William Hill (WMH) said this week that its chairman, John Brown, has agreed to continue working at the company until someone can be found to succeed him. Brown's pension has a transfer value of £3.11 million, a £200,000 increase from last year. The pension fund pays him an annual pension of £182,904.
Tab Ltd. Plans Buyback
On April 7, Tab Ltd. (TAB) said it will embark on an on-market buyback of up to 22.55 million of its shares. The company said its strong cash flow and balance sheet will enable the purchase. The buyback encompasses 5 percent of the company's issued capital. Warren Wilson, the managing director of TAB, said the move represents Tab's focus on shareholder value.
"As we have previously indicated, Tab's focus on enhancing shareholder value includes both growth and effective capital management," he said. "The company does not see those elements as being mutually exclusive."
MGM Mirage Conference Call April 16
MGM Mirage (MGG) will release its first-quarter results on April 16 at market open. A conference call to discuss the results will take place at 11 a.m. EST. The conference will be available via the at the company's Web site, www.mgmmirage.com. It will also be available by phone. U.S. callers should dial 1-800-299-7635; international callers should dial 1-617-786-2901. The access code is "MGM Mirage."
The call will be archived at MGM Mirage's Web site until April 23. A recording of the call can also be obtained by U.S. residents by calling 1-888-286-8010 and for non-U.S. residents by calling 1-617-801-6888. The replay access code is 21824361.
Reports
GTECH Corp. (GTK) is reporting that revenues for fiscal 2003 were down 3.1 percent to $978.8 million from $1 billion during the last fiscal year. The company blames the loss on lower sales that were partially offset by higher service revenues. GTECH last week announced a new e-lottery product.
GTECH Corp. (GTK) - Yearend Report