Interim Report 2001 Highlights


                                   Six months ended   Six month ended
                                       30 June 2001      30 June 2000
                                           Euro'000          Euro'000  %
Change
Turnover
Licensed betting offices                    170,368           153,189
+11.2%
Telephone betting                            22,055            19,988
+10.3%
On-line interactive betting                  13,993               926
Total Group turnover                        206,416           174,103
+18.6%

Operating Profit/(Loss)
Licensed betting offices                      9,363             5,777
+62.1%
Telephone betting                               480               349
+37.5%
On-line interactive betting                 (5,833)             (582)
nm
Total Operating Profit                        4,010
         5,544    -27.7%

Profit after taxation                         3,492
         3,974    -12.1%
Profit retained for the period                2,691
        2,768     -2.8%

Earnings per Share
Basic earnings per share                      7.41c
         9.08c    -18.4%
Diluted earnings per share                    6.90c
         8.33c    -17.2%

Dividends per Share
Interim paid                                    nil             1.02c
Interim payable                               1.70c             1.74c
                                              1.70c             2.76c

Net Assets                                   28,499            18,975

--------------------------------------------------------------------------------------------

Gross Margins                          H1 2001            H1 2000
2000

LBOs                                     14.9%              12.8%
13.4%
Telephone betting                        9. 8%               8.1%
8.9%
On-line                                   4.5%             (2.6%)
8.1%
Group Total                              13.6%              12.2%
12.8%
----------------------------------------------------------------------------------------------

Consolidated Profit and Loss Account
Six months ended 30 June 2001 (unaudited)


                                           Six months     Six months Year
ended
                                                ended          ended
                                         30 June 2001   30 June 2000
31

December
                                             Euro'000       Euro'000
Euro'000
                                          (unaudited)      (audited)
(audited)
Turnover                                      206,416        174,103
362,825
Cost of winning bets paid                   (178,340)      (152,865)
(316,511)
Gross profit                                   28,076         21,238
46,314
Operating expenses                           (24,066)       (15,694)
(35,685)
Operating profit                                4,010          5,544
10,629
Interest payable and similar charges                            (12)
(15)
Interest receivable and similar income            315            144
336
Profit on ordinary activities before            4,325          5,676
10,950
taxation
Tax on profit on ordinary activities            (833)        (1,702)
(2,937)
Profit on ordinary activities after             3,492          3,974
8,013
taxation
Dividends                                       (801)        (1,206)
(1,756)
Retained profit for the period                  2,691          2,768
6,257
Retained profit brought forward                16,867         10,610
10,610
Retained profit carried forward                19,558         13,378
16,867

Earnings per Share
Basic                                           7.41c          9.08c
18.20c
Diluted                                         6.90c          8.33c
16.87c

Dividend per share                              1.70c          2.76c
3.92c


Consolidated Balance Sheet
30 June 2001 (unaudited)




                                                  30 June   30 June 31
December
                                                     2001      2000
2000
                                                 Euro'000  Euro'000
Euro'000
                                              (unaudited) (audited)
(audited)
Fixed assets
Tangible assets                                    22,565    16,968
21,336
Intangible asset                                    1,206     1,327
1,267
                                                   23,771    18,295
22,603

Current assets
Debtors                                             1,168       415
671
Cash at bank and in hand                           14,318     8,738
16,054
                                                   15,486     9,153
16,725

Creditors (amounts falling due within one        (10,758)   (8,473)
(13,240)
year)
Net current assets                                  4,728       680
3,485
Total assets less current liabilities              28,499    18,975
26,088

Capital and reserves
Called up share capital                             4,714     4,630
4,714
Share premium                                       3,305       305
3,585
Capital redemption reserve fund                       662       662
662
Capital conversion reserve fund                       260         -
260
Profit and loss account                            19,558    13,378
16,867
Shareholders' funds                                28,499    18,975
26,088



Consolidated Cash Flow Statement
Six months ended 30 June 2001


                                 Six months ended       Six months  Year
ended
                                          30 June 2001       ended
                                                                   31
December
                                                           30 June
2000
                                                              2000
                                   Euro'000   Euro'000  Euro  Euro  Euro
Euro
                                                        '000  '000  '000
'000

Net cash inflow from operating                   4,897       8,887
20,104
activities
Returns on investments and
servicing of finance
Interest received                       315              144         336
Interest element of finance                          -  (12)        (15)
lease payments
                                                   315         132
321
Taxation
Corporation tax paid                           (2,556)      (1,906)
(2,216)
Capital expenditure & financial
investments
Acquisition of tangible fixed       (3,632)            (3,150)     (9,612)
assets
Sales proceeds on disposal of            69                 62          61
fixed assets
                                               (3,563)      (3,088)
(9,551)
Equity dividends paid                            (550)        (888)
(1,650)
Net cash (outflow)/inflow before               (1,457)       3,137
7,008
financing

Financing
Capital element of finance lease                              (239)
(418)
payments
Issue of new shares including                    (279)
3,624
share premium less costs of
issue
Net cash (outflow)/inflow                      (1,736)       2,898
10,214