Page 25 - Stakis A Case Study

A further expansion of the group appeared to be about to
take place when a package holiday company, Trend

Holidays, was acquired in 1987. The managing director of

Global's coach tours division had approached Stakis with

the idea of a company which would provide coach holidays

for the middle-aged. The company so established was

disposed of in 1988.

Thirteen provincial casinos were operated throughout the

United Kingdom as well as the Regency Club in London. The
control of a casino in London had been an aim of the

company and the licence to operate there was obtained in
1983. The Leisure Division was the next biggest employer

after hotels and generated good profits.

The Division had variable fortunes in the 1980's. These

resulted from adverse factors such as the miners' strike and

the Libyan bombings and the more favourable influence of

some relaxation in the gaming laws which allowed hours of

operation to increase and made it easier to accept cheques

in payment at casinos.

Generally, casinos retain about one fifth of the money

exchanged for gaming chips - the odds are against the

gambler. One observer of the scene suggested that,

provided he can retain a clean licence and keep bad debts