6 - 12 December 2000

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New Premises for Malta based Internet Sports betting operation

One of the UK's leading sports betting operators, Stanley Lesiure plc with over 650 licensed betting shops, and 31 casinos including the internationally renowned Crockfords Casino in London, officially inaugurated both their premises and the commencement of activities of their Malta based, internet sports betting operation, with a reception held at the Hilton Malta last Saturday. Finance minister John Dalli was the guest of honour at the reception.

The decision to locate their Sports Betting Operation to Malta was not just based on the low rate of government duty compared to the UK - only 0.5% compared to 6.75% - but most importantly on the availability of a well educated IT literate workforce and a well regulated environment.

Since the Government introduced new regulations and a competitive package to permit such operations in Malta, Stanley Leisure was the first company to be granted a licence and is now trading successfully from its Malta base through Stanleybet.com.

The opportunities for Stanleybet and Malta are enormous over the next years with considerable high value job opportunities in a clean environment. The company currently employs a staff of 21 whose complement is expected to increase in the near future.

Besides offering customers a comprehensive range of sports betting opportunities Stanlybet.com now offer football betting of up to 400 matches per week from 16 different countries to meet the global demand for this type of betting. At present the company is also developing digital mobile telephone access as well as access from Digital TV’s in the UK.

Global online betting and gaming over the next few years is expected to reach between 75 and 100 billion US dollars from a current market turnover of 10 billion US dollars with Europe expected to enjoy the greatest market share. This will result in 1.5% of the gaming/betting market being online-driven as electronic commerce marches on not just in betting, but also in the retailing of goods and services.

Last year Stanley Leisure Group had a turnover in excess of 570 million Sterling with an operating profit of over 40 million Sterling. For their Malta operation Stanleybet are also forecasting encouraging results, a truly auspicious start to make Stanleybet.com the best sports betting site on the web.

The Business Times, Network House, Vjal ir-Rihan San Gwann SGN 07
Tel: (356) 382741-3, 382745-6 | Fax: (356) 385075 | e-mail: editorial@networkpublications.com.mt