Leisure and Gaming plc (also "L&G") was formerly a holding company based in London,[1] and listed on the London Stock Exchange with major assents in the global interactive betting and gaming industry. Its interests spanned from software development to marketing.
History
L&G was incorporated in England and Wales in August 2004.[2] Its registered holders are BNY Norwich Union Nominees Ltd, Chase GA Group Nominees Ltd, Chase Nominees Ltd, CUIM Nominee Ltd, and Vidacos Nominees Ltd.
L&G acquired Betshop, a European betting and gaming business, in 2006.[3] In October 2006, immediately preceding passage of the Unlawful Internet Gambling Enforcement Act of 2006,[3] the company sold its US-facing online gambling business to a private group for US$1,[3][4] and no longer accepted wagers from US residents.[5] The subsidiaries divested in this exit were Bon Bini, ECom ServCorp, English Harbour, Nine.com and VIP.[3] This left Betshop as the company's main operating subsidiary.[3]
By 2008, the company's properties consisted of BetShop Italia, BetShop.com, GoalsLive.com and Acropolis Casino, the focus of which was expansion in Italy and Central and Eastern Europe.[6]
Trading in shares of the company was suspended in May 2010.[7] By October 2010, the company had received a demand from bankers for repayment of debts,[8][7] and was subsequently placed into Administration due to its insolvency. Two principles of FRP Advisory executed a purchase of Betshop, thereby maintaining the company as a going concern and preserving operations in the UK, Italy, Cyprus and Greece.[9]
Management
Henry Birch assumed the role of chief executive officer (CEO) in 2006, having served as director since 2004.[1] Birch had previously served as the chief operating officer of the Israeli online and TV gaming platform developer Bettingcorp.[10]
Richard Creed was named the company's finance director in May 2008, succeeding Michael Baird; Creed had formerly been finance director for BetonSports.[6]
Also in May 2008, Neil Craven was appointed as the company's non-executive director, succeeding Benjamin Shaw.[6]
In August 2008, Creed succeeded Birch as the company's CEO.[1]
Further reading
References
- Creed Replacing Birch At Leisure And Gaming iGaming Business, 3 August 2008, retrieved 2018-05-07^
- "LEISURE & GAMING PUBLIC LIMITED COMPANY overview - GOV.UK". service.gov.uk. Retrieved 6 November 2024.^
- Preliminary Results for the year ended 31 December 2006 Leisure & Gaming plc, 22 March 2007^
- Bobby White. 'Fantasy' Web sites let users bet without cash The Daily Herald, 26 October 2006, retrieved 2018-05-07^
- Reuters: Three UK firms flee U.S. gambling with $1 buyouts^
- Leisure and Gaming PLC Appoints Richard Creed to Company Board 21OnlineCasinos, retrieved 2018-05-07^
- Leisure & Gaming Only Trying to Sell Betshop Gambling911, 2010-10-12, retrieved 2018-05-07^
- Leisure and Gaming solvency hinges on Betshop sale InfoPowa News, 12 October 2010, retrieved 2018-05-07^
- Administration of the Leisure & Gaming plc and the sale of Betshop Group (Europe) Limited FRP Advisory, 2010-10-27^
- Henry Birch to succeed Ian Burke as Chief Executive Rank Group, 2014-03-27, retrieved 2018-05-07^