Betting and casino group Stanley Leisure posted a drop in profits for the year to April, primarily caused by its fledgling internet businesses. Profit before goodwill was £26.8m, below last year's £29.5m, on sales lifted from £571.4m to £611.7m. The group was also hindered in the second half by foot-and-mouth, bad weather and a 'few major winners in Crockfords', its flagship London casino. Sales edged up from £453m to £480m in the betting division, mainly due to acquisitions. In May 2000 a 23 shop chain was bought in the Midlands. Furthermore, the betting arm produced a 'very satisfactory growth in profitability' despite the loss of 221 meetings, compared with 38 last year, during the period. In the gaming arm, higher attendances and the acquisition of a casino in Great Yarmouth pushed revenues up 8% to £127m. Chairman Leonard Steinberg said 'future prospects look very bright' following government proposals to 'transform the taxation regime of the betting industry'. Betting duty paid by customers on each bet will be eliminated and replaced by a 'Gross Profits Tax' of 15% paid by the bookmaker. The 9% deduction historically paid by the customer will be re-invested, leading to 'significant turnover improvement and increased profitability'.