Holding company and online gaming operator, Leisure & Gaming, released end-of-year financial results this week, which despite major losses from exiting the U.S. facing online casino and sports betting industry, revealed a strong comeback. Leisure & Gaming has apparently been restructured with an emphasis on capitalizing on emerging gambling markets in Europe. Specifically, the group is primarily seeking to expand into Italy, Central and Easter Europe.

Regarding 2006 results, Leisure & Gaming saw massive growth at their largest subsidiary, Betshop, which operates the pan-European online sportsbook, poker room and casino, Betshop.com, and the Italian facing land-based and online gaming operation, BetShop Italia. With 247% growth in turnover, 187% growth in net win and 200% growth in active customers compared to 2005, business is certainly looking good on several fronts.

The company took a bit hit when they were obligated to suck up a $104.5 Million loss on the sale of their U.S. facing operations. However, with the sale and restructuring, management was able to cut operational costs by over 75%. After releasing 2006 results, share prices rose by 20%. First quarter trading for 2007 is very strong as well. In other words, investors are expecting good things to come from Leisure & Gaming while they refocus their efforts in Europe and Italy.

Leisure & Gaming's CEO, Henry Birch, expressed the company still has some work ahead of them. In addition to getting more exposure and visibility, it is imperative that Leisure & Gaming nurture the Italian online gaming market, considering it is a very young industry. Birch expressed hopeful sentiments that with increased supply and competition, the demand will also increase. In the meantime, Leisure & Gaming continues spearheading the Playtech Software powered Acropolis Online Casino, Athletic Bet, Goals Live and BetShop sites.