L&G's New Online Properties Steal Fourth-Quarter Show

New Internet properties for Leisure & Gaming turned in a strong fourth-quarter performance as the company continues to build out its online gaming arm.

The London company, best known for its Betshop Italia retail and online operation, generated total wagers of 24.1 million euros in the three months ended Dec. 31, 2008, up 6.1 percent versus the year-ago period. Net win was up 6 percent to 6.5 million euros.

Amounts wagered on sports betting came in at 21.7 million euros, up 3.8 percent against the same quarter last year, though net win was down 9.8 percent to 4.6 million euros.

The company's online casino, Acropolis, generated handle of 14.7 million euros, up 67 percent compared to 2007, with net win up 150 percent to 1 million euros. Its performance was "enhanced," the company said, after launching into Greece during the first half. Further financial detail, however, was not given.

In November 2008, Leisure & Gaming also launched its play-for-money poker site, in Italy, in partnership with the local operator Microgame S.p.A.

"The introduction of real-money poker tournaments has been well received," Richard E. Creed, the company's chief executive, said in prepared statement Tuesday. Mr. Creed's remarks follow on from a string of positive Italian poker reviews from Playtech Ltd., Bwin Interactive Entertainment A.G., Lottomatica S.p.A., Gioco Digitale S.A. and others.

Poker, skill games and lotto generated combined handle of 3.7 million euros, up 131 percent. Net win was up 133 percent to 700,000 euros. The company said its Italian poker offering increased wagers and, therefore, the rake.

Mr. Creed, who succeeded Henry Birch as chief executive last May, said that trading in the 2009 fiscal year has been ahead of expectations, with "no reduction in customer spending or business activity."