Ladbroke

Article Abstract:

Ladbroke saw a drop in profit of 24% for its gambling side in 1st half 1995, but the company's hotel division improved its performance. The company's gambling side has been affected by the UK National Lottery, though this does not account for all the drop in turnover. Ladbroke's hotels saw healthy growth for London, England, and Brazil, Japan and Canada saw a recovery. Operating profit was up by 35% at 65.8 million pounds sterling. The group's profit is forecast at 150 million pounds sterling fro full-year 1995 by BZW.

Legal Gambling, Gambling Industries, Gambling, Ladbroke Group PLC

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Bold step for Stakis

Article Abstract:

Stakis is carrying out a share issue to fund the acquisition of Lonrho's Metropole Hotels. There are five large hotels in the Metropole chain and they have conference facilities. Stakis is using debt as well as a rights issue to fund the 327 million pounds sterling acquisition. The company is increasing its dividend for 1996 above expectations. The rights issue has attracted publicity due to Schroders' scheme for competitive bidding for underwriting the share issue.

Hotels and motels, Securities

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Stakis

Article Abstract:

Stakis is undergoing a recovery following financial problems in 1991. The company has acquired two hotels, in addition to five casinos during 1994-1995, and plans to acquire a further two hotels, taking its total to 43. The company has seen a rise in its occupancy rate to 66.4% from 63.3% despite price rises. Lower interest charges helped boost profits as did a flotation of Ashbourne nursing homes. The company's shares are seen as fairly priced in June 1995.

Casinos, Casinos (except Casino Hotels)

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