Stanley Leisure, LCI End Talks
British casino operators Stanley Leisure (SLY.L) and London Clubs (LCI.L) were unable to come to terms on an agreement in which the former would have acquired the latter. Stanley Leisure, which operates both online and offline casinos, had teamed with Hg Capital in a joint bid to take over LCI for £250 million. The offer was rejected, and no further discussions have ensued. The bid was to be taken off the table Jan. 22, but the lack of progress convinced Stanley Leisure to formally withdraw the proposal Jan. 10.
Kerzner Increases Earnings Estimates for 2002
Kerzner International Limited (KZL) announced Wednesday that its Atlantis, Paradise Island property achieved stronger than expected results in the fourth quarter of 2002. The company subsequently expects its recurring earnings per share for 2002 to exceed $2, an upgrade from its projection of $1.75 to $1.85 made upon the release its third-quarter results. The company's recurring earnings per share represent net income per share, excluding non-recurring items and operating results from Kerzner Interactive, its Internet gaming venture. Fourth-quarter and 2002 results are due to be released during the week of Jan. 27, 2003.
Jupiters' Investors Like the Action
Jupiters (JUP.AX) saw its stock jump 71 cents to AU$6.11 per share (a 13 percent increase) Monday, one trading day after the company told shareholders that it's in talks with Melbourne-based Tabcorp Holdings, Australia's biggest gaming company. Jupiters had already been in merger talks with Queensland-based UNiTAB. Tabcorp shares, meanwhile, fell 28 cents to $10.48. Tabcorp's market capitalization is $3.8 billion. Jupiters' market cap is $1.2 billion, while UNiTAB's is $577 million.
Conference Call - Youbet.com
Youbet.com Inc. (UBET) said Thursday it will announce its preliminary and un-audited fourth-quarter and year-end financial results during its quarterly earnings call on Jan. 27. The call will start at 5 p.m. (EST) and will be available live via the Internet by accessing www.youbet.com. To listen to the live call online, go to the "About Youbet.com" page at least 15 minutes early to register, download and install any necessary audio software. An online replay of the call will be available for 90 days at the Youbet Web site. A phone replay will be available through April 27 by dialing 888-286-8010 and entering the reply pass code: 44974418. (International callers dial 617-801-6888.)
Conference Call - Penn National Gaming
Penn National Gaming Inc. (PENN) will release its fourth-quarter financial results Feb. 12 at 7 a.m. (EST) and will host a conference call and simultaneous webcast at 10:00 a.m. the same day. Both the call and webcast are open to the general public. The call number is 212/896-6108 or 415/537-1868. Attendees are advised to call five minutes in advance. The live call will be available online at www.companyboardroom.com. Internet attendees are advised to log on 15 minutes early to register and download and install any necessary software. A replay will be accessible until Feb. 26 by dialing 800/633-8284 or 402/977-9140 (international). The access code for the replay is 21104848. A replay of the call will also be available online for 30 days.
Conference Call - MGM Mirage
MGM Mirage of Las Vegas will discuss its 2002 fourth-quarter earnings during a conference call scheduled for Jan. 28, 2003 at 11 a.m. (EST). The quarter was the first full earnings period in which the company's Isle of Man-based online casino was operational.
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