| | |  | Last Updated: Tuesday, June 19, 2007 |  | | | Gambling Law Changes Promote Business Growth
- Saturday, 28 Jan 2006
Legalizing gambling is not only good for the land and online casino industry, it helps the economy of the country as well. With many of the biggest gambling firms trading on London's stock exchange, the resent liberalization of gambling laws has proved to be very profitable for everyone involved. Rising shares in any company helps in economic growth as it allows for companies to expand, thus creating a larger job market and promoting spending. It seems that in the world of online and land-based gambling, not too much is different.
Shares in Stanley Leisure gained nearly 3 per cent yesterday after Britain's largest casino operator said punters were streaming into its regional outlets in the wake of the government's liberalization of the nation's gambling laws. Bob Wiper, the chief executive, hailed a 15.7 per cent increase in attendance at its regional casinos during November and December. He said Stanley Leisure was "very encouraged" by the effects of the early freedoms granted to casino operators ahead of the Gambling Act coming into force next year.
These include the removal of the 24-hour membership admission rule and allowing more slot machines into gambling venues with higher stakes and bigger prizes. The shares ended 2.9 per cent higher at 710p, despite the company posting falling profits for the six months to the end of November, hit by the after-effects of the London bombings in July. Profits before tax and exceptional items fell to 22.2m from 24.5m in the year-earlier period.
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