UK Stocks Slip from Gambling Bill Fears
Gambling stocks slipped a bit in the United Kingdom last week, due mostly to worries that if the new gambling bill is not introduced to Parliament within the next month it may not pass until after next year's election. Stanley Leisure Organization Plc's (SLY.L) share price has fallen from 442p on Sept. 20 to 429p today, while The Rank Group Plc's (RNK.L) prices have fallen from 289p to 281p and William HIll Plc's (WMH.L) prices fell 565.00p to 530.24p over the same period.
Revenue Down 12 Percent at First Hong Kong Jockey Club Meeting
Turnover for Sept. 5, the first day of the Hong Kong Jockey Club's new racing season, was HK$108 million (or 12 percent) less than that of the first day of last year's season. The news comes only a few weeks after racing director Wifried Engelbrecht-Bresges stated that this year's turnover will probably fall by 8 to 9 percent unless there is some change to the system.
Reports Released
Italian lotteries company Lottomatica SpA (LTT.MI) has reported its financial figures for the first six months of 2004, showing a 26.9 percent increase in revenue to 616.8 million euros as compared to the first half of last year. EBITDA also showed strong growth, rising 77.3 percent to 184.1 million euros while net profit rose 225.1 percent to 58.2 million euros.
Lottomatica SpA - Interim Report
GTECH Holdings Corp. (GTK) reports favorable results for the three months and interim ended Aug. 28, 2004. The second quarter of 2004 produced $323.5 million in revenue for the company, an increase of 16.7 percent over the $277.2 earned over the same period last year. Net income for the quarter was $53.1 million, or $0.40 per diluted share, up 9.5 percent over last year's second quarter net income of $48.5 million, or $0.37 per diluted share. Figures for the first six months show revenue up 16.8 percent to $603.7million and net income up 19.2 percent to $106.7 million, or $0.80 per diluted share, as compared to the same period last year.
GTECH Holdings Corp. - Interim Report