Companies: CBX   

Croatian casino operator Cubus Lux is participating with ActivityBreaks Ltd and Ryanair in offering short holiday packages.

AIM-quoted Cubus has agreed a marketing deal with ActivityBreaks, one of Europe's leading activity breaks companies, to offer two- to four-night holidays in the Croatian region of South Istria. The package includes four-star hotel accommodation and free entry to Cubus' local casinos and customers who book are redirected to a flight search engine featuring Ryanair, an ActivityBreaks affiliate.

Gerhard Huber, chairman and 14.5 per cent shareholder in Cubus, proclaims 'more and more tourists are being attracted by Croatia's vastly improved infrastructure and as a group we are well positioned to capitalise on this influx'. Cubus, which lost £497,000 in 2005 and £413,000 on £327,000 revenues in the first half of 2006, raised £2.1 million at 13.125p last month to develop the Olive Island Marina on Ulijan Island, off the Croatian coast.

Floated at 10p in 2004, Cubus Lux shares soared to 45p before sliding to 8.5p in autumn 2005. They have rallied to 16p, up 2p this morning, valuing the company at £14 million, and offer further, decidedly speculative, recovery appeal.