The betting and casino group reported a slip in pre-tax profits from £26.4m to £25.8m for the year to 2 May 1999, substantially lower than predicted. A difficult second half in the racing division, and luckier customers, were blamed for the slide. Nevertheless, much of this was offset by a good performance from its casinos, boosted by a successful refurbishment scheme. Conversely, the World Cup, in the first half, wielded a double-edged sword for the group, depressing casino attendance, yet luring a £1.3m profit from new punters eager for a winning bet. The discernible drift toward casino and fruit machine deregulation, egged on by the industry's hard lobbying, promises further significant boosts. The Irish concerns are set to benefit from evening and Sunday racing (to be introduced this year) and a reduction in betting duty that came into effect at the beginning of the month. Despite pulling out of bidding for Coral in December, Stanley did agree a £86.4m purchase for Capital Corporation, which was completed after the financial year end. The policy of acquisition is set to continue, and the group is sounding out possibilities for offshore and internet betting services, which several new companies have recently tried to cash in on. A final dividend of 3.3p brought the total to 4.95p (4.6p).