Online gambling reorganisation planned

With the sell-off of all U.S. operations now in the past, the UK public company Leisure and Gaming has announced plans for a massive reorganisation to provide a long-term future for the company.

Under the leadership of CEO Henry Birch, the company’s plans are to be put before shareholders at an Extraordinary General Meeting on November 29. Proposals include the approval for renegotiated banking facilities.

Following the sale of its U.S. operations to Starwood - Stockdale Investments, Leisure and Gaming’s main asset is now its Betshop operations, acquired earlier this year. In terms of the deal with Assheton, L&G has retained the database of non-US customers and a copy of the proprietary Vegas Technology software.

The earn-out terms of the deal with Betshop’s previous owner Gabriel Chaleplis have been renegotiated and Chaleplis remains on the board to oversee the mainly Italian-facing online and offline operations.

The company’s new strategy is to focus on the Betshop Italia franchised chain of more than 800 shops and sports betting and gaming outlets. The Betshop online operation which operates in 8 languages will be run as a separate unit.