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Allegations Cloud Wembley Profits

4 March 2002

UNITED KINGDOM – As reported by This is London: "Allegations of improper and illegal payments in the US continued to dog Wembley despite the greyhound racing group reporting a leap in the dividend on rising profits from its American gambling operations.

"Wembley shares, up 16 1/2p to 646 1/2p, dived more than 10% last week on speculation about payments allegedly paid to an unnamed US attorney. In a statement to the Stock Exchange, Wembley said that the allegations were unfounded.

"…Allegations of underhand payments emerged during unfair dismissal claims by two of Wembley USA's most senior executives.

"The allegations overshadowed strong results from Wembley's dog tracks in the US, underpinned by gross profits of $1.2 million a week from Americans playing video gaming machines alongside its Lincoln Park track in Rhode Island…"

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