Online bookmaker Stan James has denied reports that its Gibraltar operation is about to be sold off. Chief executive Denis Kelly told the Racing Post that there was no for sale sign outside the door, but that a bid at the right price would be considered.
The imminent introduction of the point of consumption tax in the UK has seen analysts looking to identify the brands most likely to suffer, with Stan James’ name frequently among those mentioned – especially after a recent round of redundancies at the firm. A report on EGR Monday morning suggested that a sale was close, but that has been refuted.
However Kelly commented: “To address the speculation on whether or not Stan James is for sale, it would be madness to suggest that there wasn’t a price point ‘somewhere’ as there is with absolutely any business you can think of. However, there is no ‘for sale’ sign outside the door and we intend to face any challenges presented by the POC tax head on, while we continue to grow the brand.”