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Notes to the Financial Statements
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47 Statement in the period in which it would be won. In the 2008 financial year there were no significant one-off jackpot winners on the CasinoClub’s slot machine games with associated “progressive” jackpots. The total of the available jackpots at the end of December 2008 was c4.0m (2007: c3.2m), with the largest available individual jackpot being c1.1m (2006: c1.6m). 27. ACCOUNTING ESTIMATES AND JUDGEMENTS The directors discuss the development, selection and disclosure of the Group’s critical accounting policies and estimates and the application of these policies and estimates. The estimates and judgements which have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below. 27.1 Impairment of goodwill and trademarks Determining whether goodwill and trademarks with an indefinite useful life are impaired requires an estimation of the value in use of the cash-generating units. The value in use calculation requires the entity to estimate the future cash flows expected to arise from the cash-generating unit and select a suitable discount rate in order to calculate present value. Note 13.2 provides information on the assumptions used in these financial statements. The valuation work to assess the impairment of goodwill and intangible assets was conducted by Chartered Accountants, BDO Stoy Hayward, London. 27.2 Share options Accounting for share option charges requires a degree of judgement over such matters as dividend yield, and expected volatility. 27.3 Open bets The directors review the scale and magnitude of open bets frequently, and in particular at the balance sheet date. Assessments are made on whether to make provisions for the outcome of such open bets. 28. GOING CONCERN The directors have assessed the financial risks facing the business, compared this risk assessment to the net current asset position and dividend policy and consider that the group has adequate resources to continue operations for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements. 29. SUBSEQUENT EVENTS There have been no subsequent events between 31 December 2008 and the date of the signing of these accounts that merit inclusion.