Top Ten Bingo Trading Statement

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Top Ten Holdings PLC, along with its subsidiaries, operates the third largest UK chain of bingo clubs operating at sites across England and Wales. Since joining the AIM market in 2002 the company has expanded through a series of acquisitions.

The company operates both traditional and flat floor locations and launched an online bingo site (www.toptenbingo.com) in 2006. Details of all the club locations can be found on the Top Ten Bingo website.

'In our previous announcements, we have alluded to the significant impact that the smoking ban and the introduction of the new rules surrounding the Gambling Act could have on our industry and specifically our business. Over the past 6 weeks, club admissions and average customer spending levels have been very
unpredictable and have reduced by a greater level than we had anticipated.
However, there are signs of stability at these lower levels. Consequently, the directors believe that profits for the year will be below previous marketexpectations.

The sale of the property freeholds of marginal sites is continuing. Good values have been achieved and more sales are anticipated during the year.

 

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This page contains a single entry by Simon Collins published on November 19, 2007 5:01 PM.

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