Capital director's wife owns shares in casino predator
Wednesday 19 March 1997
Capital, owner of two up-market casinos in London's Mayfair, including Crockfords, yesterday issued its formal defence document, which showed that Julie Dunkley holds 2,000 shares in London Clubs in a single-company personal equity plan.
By contrast her husband, John Dunkley, does not own a single share in Capital Corporation, though the pounds 200,000-a-year director of gaming holds 1.5 million options worth pounds 3.2m at last night's closing price of 210p, down 3p.
The defence document also shows that pre-tax profits at Capital slipped to pounds 9.2m, after an exceptional charge of pounds 2.8m, from pounds 13.1m previously.
The results were flagged in a profits warning in January when it blamed a lower volume of high-rollers, particularly at the tail-end of last year, and a lower overall win percentage in the second half for the shortfall.
Capital said the new year had started well and argued it was a more efficient operator than London Clubs, which counts the Ritz Club and Les Ambassadeurs among its seven casinos in the capital.
Capital claimed that in the past four years it made operating profits of pounds 33 on every pounds 100 of win turnover, compared with pounds 20 for London Clubs.
Capital appeared to rule out speculation it would take the Crockfords name overseas. "We are not distracted by unsuccessful, risky or speculative overseas ventures," it said.
In response London Clubs, which also has casino interests in South Africa and Las Vegas, said the comparable figure for its two top-end casinos was pounds 39 and noted that Capital's profits had fallen in each of the past four years.
"Capital Corporation's track record does not allow it to put up a credible defence," said Alan Goodenough, London Clubs' chief executive. "The company's offer document demonstrates a lack of understanding of how to maximise returns from the London gaming market."
- 1 Al Pacino on suffering from depression: 'It can last and it's terrifying'
- 2 Half of young women unable to ‘locate vagina’ and 65% find it difficult to say the word
- 3 Saudis risk new Muslim division with proposal to move Mohamed’s tomb
- 4 A teacher speaks out: 'I'm effectively being forced out of a career that I wanted to love'
- 5 Mexican woman becomes world’s 'oldest person' at 127
Perez Hilton apologises for publishing Jennifer Lawrence naked photo leak
Jennifer Lawrence 'nude photo hacker' claims there are hundreds more celebrity images to be published
Victoria Justice on naked photo leak: 'Let me nip this in the bud right now – pun intended'
Saudis risk new Muslim division with proposal to move Mohamed’s tomb
Ariana Grande nude photos leak: Pictures are completely fake, say singer's representatives
Rotherham child sex abuse scandal: Labour Home Office to be probed over what Tony Blair's government knew - and when
What do immigrants really think of Britain? Polish immigrant's Reddit post goes viral
Ashya King: Parents of five-year-old boy refused permission to visit him in hospital and denied bail at Spanish court
With Douglas Carswell joining Ukip, my party has taken another giant step forward
When elitism grips the top of British society to this extent, there is only one answer: abolish private schools
Ukip Douglas Carswell defection: Tory MP jumps ship to join Nigel Farage
iJobs Money & Business
£35000 - £38000 per annum + benefits: Ashdown Group: A highly successful, glob...
£60000 - £75000 per annum + BONUS + BENEFITS: Harrington Starr: Business Anal...
£40000 - £50000 per annum + benefits+bonus+package: Harrington Starr: SQL Impl...
£85000 per annum: Harrington Starr: Head of IT (Windows, Server, VMware, SAN, ...