A Trading Statement from gaming group, Stanley Leisure, has indicated that whilst the company still anticipates reporting profits in excess of those achieved last year, the figure for this year will be lower than expectations.

The company has been affected by unfavourable results from both the Cheltenham Festival and the Doncaster Lincoln meetings and these, plus heavy betting in Ireland on the winner of the recent Grand National, will combine to affect Stanley's profitability at the racecourse.

Profits from the gaming division are expected to be broadly in line with last year after a mixed performance.

In the provinces, turnover has been weaker during the last quarter, but trading at the London casinos has been at normal levels for the time of year, albeit affected by delays in payment from a small number of our more significant players.

The company said that the benefits of job cuts on its performance would not be seen until the next financial year.

Stanley Leisure's results for the year to 27 April are due to be published on 10 July. Details: www.stanleyleisure.com