Stanley sounds profits alarm
THE reluctance of a high-roller to pay gambling debts of more than £3m has forced a profits warning from Stanley Leisure, the betting group that owns the swanky Crockfords casino in Mayfair.
Shares in Stanley tumbled 30p to 430p today as it warned that the £3m-plus remains outstanding from last year's trading, which will hit profits for the year to 2 May.
Chief executive Bob Wiper is confident that most of the debt will be paid, and a profit 'slightly above' last year's figure of £41.3m remains possible.
Stanley also owns the Colony Club in Park Lane and has a string of provincial casinos, which turned in satisfactory performances.
But in London, Stanley has also been hit by a series of big wins by other high-rollers. The bookmaking side of the group continues to trade well.