Leisure & Gaming (LNG) is placed into administration with its foremost asset, the Betshop Group Europe Ltd (BSG) sold to Honeymead Services for a sum of 1 million Euros. A conglomerate of investors including Gabriel Chaleplis, a director of BSG, apparently controls Honeymead Corporation. Leisure & Gaming reported that “selling BSG as a going concern has safeguarded the jobs of more than 600 agents and employees in Italy, Greece, Cyprus and the UK”.
At the beginning of this month, the expected sale of BSG to Spain’s Grupo Pefaco for Euro 5.3 million turned out to be a flop after LNG failed to agree terms that expired without option for renewal.
The trading of LNG’s shares were suspended in “London’s AIM Market” from 21st May, following the drastically poor gambling margins getting hit by Betshop, due to the astounding success of various eminent football teams in Europe earlier this year.
