Leisure Report articles from August 2004

Leisure Report archives from August 2004

Gambling Committee brings cheer.
August 1, 2004... UK casino operators were feeling more upbeat about their future prospects after the Joint Committee on the Draft Gambling Bill published its report on regional casinos. The report recommended less drastic measures to prevent a proliferation of...

Total Fitness poised for private equity sale.(Brief Article)
August 1, 2004... Total Fitness, the health club chain owned by Albert Gubay, the founder of the Kwik Save supermarket group, was expected to be sold to L&G Ventures, the private equity firm, for about 80m [pounds sterling] as Leisure Report went to press. ...

Strong UK leisure brands--are there any?(Inside track)
August 1, 2004... What do you get when you put together a handful of senior executives from leisure businesses as diverse as tourist attractions, casinos, cinemas and health and fitness? A fascinating insight into how much they have in common is one answer,...

Two trade buyers in the running for Odeon.(News)(Brief Article)
August 1, 2004... Vue Entertainment and National Amusements were the only two trade buyers out a shortlist of 12 in the initial bidding for the Odeon cinema business. First-round interest in the chain, which has 604 screens, mainly came from private equity...

Harrah's to become world's largest casino group.(News)(Brief Article)
August 1, 2004... Harrah's Entertainment has signed a definitive agreement to acquire Caesars Entertainment, a deal that would make it the world's largest casino group. The boards of both US-based gaming companies have unanimously approved the $9.44bn...

Whitbread buys Premier Lodge.(News)(Brief Article)
August 1, 2004... Whitbread has bought Premier Lodge, the 132-strong budget hotel chain, from Spirit Group for 536.2m [pounds sterling]. The deal includes 19 pub restaurants, valued at 31.2m [pounds sterling]. The acquisition sees Whitbread consolidate its...

FOBTs help boost Stanley profits.(News)(Fixed Odds Betting Terminals)(Brief Article)
August 1, 2004... Fixed odds betting terminals helped Stanley Leisure turn around fears that its results for the year to 2 May could be worse than the previous 12 months. The group saw a 1% rise in pre-tax profit to 41.8m [pounds sterling] in the year ended...

Rank break-up rumours rumble on.(News)(Brief Article)
August 1, 2004... The prospect of a break up of one of the leisure industry's last remaining conglomerates was the subject of speculation after the publication of a research note by Deutsche Bank, the firm's joint broker. The note, written by leisure analyst...

Future looks healthy for Reflex as Johnson ups stake.(Health & fitness news; Luke Johnson)(Motorcise Healthy Living Centres )(Brief Article)
August 1, 2004... Motorcise Healthy Living Centres got a confidence boost when Luke Johnson, a non-executive director of Reflex Group, which owns the exercise chain, more than doubled his shareholding to 26.06% of the company. Johnson, the former Pizza...

Virgin confirms 15th UK club.(Health & fitness news)(Brief Article)
August 1, 2004... Virgin Active is to open its 15th health club in the United Kingdom in Wimbledon, south London, next April. The club will be the second in the chain to include the Heaven V spa brand, which was first introduced at the most recently-opened...

Fitness pay review.(Health & fitness news)(Brief Article)
August 1, 2004... The Register of Exercise Professionals and SkillsActive, the sector skills council for active leisure and learning, are carrying out a survey of salaries and human resources issues across the fitness industry. The study will cover all levels,...

Duke Street increases backing for Esporta expansion.(Health & fitness news)
August 1, 2004... Esporta's plans to roll out racquets-based clubs got a fillip when owner Duke Street Capital committed an additional 100m[pounds sterling] to help realise the strategy. The funding will support the development of ten racquets clubs and the...

JJB reports strong membership.(Health & fitness news; LLB Sports PLC)(Brief Article)
August 1, 2004... JJB Sports said total membership at its 18 health clubs, which are all located above its sports shops, was 74,500 at 4 July. In an AGM trading update for the 23 weeks to 4 July, the firm said that average membership for clubs open more than...

Bet On Sports plans acquisitions after AIM float.(Betting & gaming news)(Alternative Investment Market)(Brief Article)
August 1, 2004... Bet On Sports, the online gambling firm targeting the North American market, is planning the next stage of its growth via acquisitions and new territories after raising 54.6m [pounds sterling] through a successful flotation on the Alternative...

Risk Capital Partners sees future in high street bingo after Mayfair Bingo buy.(Betting & gaming news)
August 1, 2004... The new owners of Mayfair Bingo, operator of the Riva brand, plan to exploit a gap in the market for small, modern, high street bingo clubs as larger operators concentrate on other gaming opportunities for their large out-of-town sites...

British VCs' French casinos bid off for now.(Betting & gaming news)(Brief Article)
August 1, 2004... Permira and Cinven are no longer in discussions to buy Groupe Partouche after the French casino operator rejected their bid. However, the venture capital firms have agreed a right of first refusal should an alternative bidder make an offer. ...

Tote boss says 'government greed a threat'.(Betting & gaming news)
August 1, 2004... Peter Jones, the chairman of the Tote, the state-owned sports betting business, said the organisation's future could be jeopardised if the government decides to treat its sale purely as an opportunity to boost its coffers. Launching the...

Ex pub chain man joins Coral Eurobet.(Betting & gaming news)(Brief Article)
August 1, 2004... Coral Eurobet has filled the new position of commercial director with the former director and general manager of an expanding pub brand. Simon Longbottom has recently joined the betting firm to take responsibility for the marketing,...

Carlton goes for debt funding.(Betting & gaming news; Carlton Clubs )(Brief Article)
August 1, 2004... Bingo operator Carlton Clubs is close to agreeing debt funding for its immediate expansion plans, after shelving plans for flotation on the Alternative Investment Market. Carlton has agreed in principle a loan of around 11m[pounds...

Betinternet to undergo strategic review.(Betting & gaming news)(Euro Off Track)(US Off-Track)(Brief Article)
August 1, 2004... Betinternet.com, the Alternative Investment Market-listed online betting group, announced a strategic review to address the long term direction and financing of the business. The review is expected to be completed by 30 September and will...

Paddy Power introduces next generation mobile betting.(Betting & gaming news)(Brief Article)
August 1, 2004... Paddy Power, the Irish bookmaking firm, has become the first company to offer a 2.5G Java mobile betting service. The new Paddy Power Mobile product uses general packet radio services wireless technology and is much faster, cheaper and...

Gaming Insight ready to pounce.(Betting & gaming news)(Brief Article)
August 1, 2004... Gaming Insight, the digital media fights and interactive gaming shell which currently has no operating subsidiaries, said it is well-placed to take advantage of the increasing number of acquisition opportunities being put to it. The firm...

Gaming Corp benefits from new model.(Betting & gaming news)(Brief Article)
August 1, 2004... Gaming Corporation, the owner of www.casino.co.uk, said it has seen an improvement in revenues after a change to its pricing structure following its recent acquisition of Eyeconomy, the online marketing and advertising business. In a...

BCA appoints CEO from the MoD.(Betting & gaming news)(British Casino Association)(Ministry of Defence)(Brief Article)
August 1, 2004... The British Casino Association has appointed a chief executive from the Ministry of Defence to help its lobbying activities. Derek Jeffrey has taken over from David Beeton, who has retired. Jeffrey was most recently director of logistic...

Brighter future for Scottish skiing after sale.(Sport news)(Glencoe Mountain Resort acquires Glencoe, Glenshee)(Brief Article)
August 1, 2004... The future for skiing in Scotland looks a little brighter after the Glencoe resort was bought out of receivership by a new company called Glencoe Mountain Resort. Two Scottish resorts, Glencoe and Glenshee, were put on the market in...

Racism and racing report.(Sport news)(Department for Culture, Media and Sport)(Brief Article)
August 1, 2004... The Department for Culture, Media and Sport has published a report recommending measures to reduce racial inequality in the horseracing and greyhound racing sectors. Racial Equality in the Horseracing and Greyhound Racing Industries found...

Sports facilities database aims to promote activity.(Sport news)(Sport England)(Big Lottery)(Brief Article)
August 1, 2004... The government hopes its drive to encourage greater activity to promote better health among the public will be boosted by the launch of England's largest database of publicly accessible sports facilities. Sport England and the Big Lottery...

Leisure Report LR Index football stockwatch August 2004.(Sport news)(Illustration)
August 1, 2004... Sunderland was the biggest mover in July, albeit in the wrong direction. Shares shed 49.6% of their value after the club announced it was cancelling its listing from 5 August to generate cost savings, and reshuffled its board. The club said it...

Chelsea Village plans changes to boost profits.(Sport news)(Brief Article)
August 1, 2004... Bruce Buck, the new American chairman of Chelsea Village, said the three restaurants in the complex could be converted into American-style sports bars as part of a bid to make the club profitable within five years. The new boss said there...

Management takes control of Ster Century.(Cinema & entertainment news)(Brief Article)
August 1, 2004... The management of Ster Century, the operator of six multiplexes in the UK and one in Ireland, has bought the majority shareholding in the company from Inflexion Private Equity, which backed the team's 25m [pounds sterling] buyout of the...

The Nightclub Company replaces First Leisure.(Cinema & entertainment news)(Brief Article)
August 1, 2004... First Leisure, one of the pioneering multi-leisure operators of the 1980s, is no more. The nightclub business it became was bought out of receivership by John Smith, the group's former chief executive, for an undisclosed fee and has been...

Cinema studies show growth in box office and advertising revenues.(Cinema & entertainment news)(Brief Article)
August 1, 2004... Cinema-going in Western Europe and global cinema screen advertising market are both enjoying encouraging levels of growth, according to two new reports. Cinemagoing Western Europe, by specialist analyst Dodona Research, predicted that...

Georgica steps up pressure on Allied Leisure.(Cinema & entertainment news)(Brief Article)
August 1, 2004... Georgica, the cue sports and tenpin operator, is moving closer to withdrawing financial support for the loss-making Allied Leisure business. In a trading statement for the six month's to 27 June, Georgica said the performance of Allied,...

Heaven and Hell to go nationwide.(Cinema & entertainment news)(Entrepreneurial Leisure)(Brief Article)
August 1, 2004... Entrepreneurial Leisure, which owns the seven-strong chain of Heaven and Hell nightclubs in the north of England, is looking at a range of financing options to begin a national expansion of the brand from the end of this year. The company,...

Center Parcs plans spa growth and full listing.(Tourism & attractions news)
August 1, 2004... Center Parcs, the UK holiday resort operator, said it was considering developing a standalone version of its successful Aqua Sana spa concept and confirmed it was oil target to seek a listing on the main Stock Exchange by the end of this...

French attractions firm makes UK debut with Pleasurewood Hills purchase.(Tourism & attractions news)(Grevin & Cie)(Pleasurewood Hills Leisure Park )(Brief Article)
August 1, 2004... Grevin & Cie, the France-based European tourist attractions operator, has made its first foray into the UK with the acquisition of New Pleasurewood Hills Leisure Park near Lowestoft. The purchase of the East Anglian theme park, for an...

Creditors' deal saves Euro Disney.(Tourism & attractions news)(Brief Article)
August 1, 2004... Euro Disney has escaped insolvency after gaining approval for its proposed restructuring deal with creditors. A 250m [euro] (170m [pounds sterling]) rights issue, along with interest and licence fee deferrals, means the operator of the...

Parkdean cheered despite bigger loss.(Tourism & attractions news)(Brief Article)
August 1, 2004... Parkdean Holidays reported a pre-tax loss of 5.6m [pounds sterling] in the 26 weeks to 30 April, against a loss of 3.8m [pounds sterling] in the same period last year. The company attributed the fall to the increased size of its estate and...

Kerzner confirms 540m [pounds sterling] of UK casino developments.(Property & development news)
August 1, 2004... Kerzner International, the South Africa-based international resort, hotel and casino firm, has taken a prime position in the race to build regional casinos under the proposed modernisation of the UK's gambling laws. The company announced...

Leisure property award winners.(Property & development news)(Brief Article)
August 1, 2004... The leisure property community named Whitbread as leisure operator of the year at the recent 2004 Retail & Leisure Property Awards. The awards, run in conjunction with the Leisure Property Forum, also recognised the Amida Hampton Racquets &...

Gala/Harrah's JV names first site.(Property & development news)(Joint Venture)(Brief Article)
August 1, 2004... St Helens in Merseyside is the first site that Harrah's Entertainment, the US-based casino company, and Gala Group, the British bingo and casino operator, have confirmed for their 600m [pounds sterling] joint venture planning up to 10 regional...

Plans unveiled to extend Notts centre.(Property & development news)(Eastside & City Developments)(Brief Article)
August 1, 2004... Outline plans for a 3 million sq ft mixed-use development, including substantial leisure provision, have been submitted to Nottingham City Council. Eastside & City Developments, a consortium comprising Roxylight, the development firm and...

Operators hit back as Which? report slams food options at theme park catering outlets.(Eating & drinking news)
August 1, 2004... Theme park operators have hit back at a recent Which? report that criticised tourist attractions for offering a limited choice of healthy food within their catering operations. Day Chipper--The food on offer at British tourist attractions,...

Subway heads for roll out with supermarket chains.(Eating & drinking news)(Brief Article)
August 1, 2004... Subway, the largest fast-food chain in the US, is in "advanced discussions" with Somerfield about adding outlets to 100 stores across the UK and is also negotiating potential deals with a number of other supermarket chains. Subway and...

Wagamama rumoured for Apax talks.(Eating & drinking news)(Brief Article)
August 1, 2004... Hutton Collins, the investment firm, is understood to have withdrawn its rumoured 50m [pounds sterling] takeover offer for Wagamma, leaving Apax Partners, the venture capital company, at the head of the bidding for the noodle bar chain. ...

Coffee-led outlets grow quicker than food-led cafes.(Eating & drinking news)(Brief Article)
August 1, 2004... The cafe market is in line for substantial growth, but coffee-led venues will grow quicker than the food-led chains, according to a new report. Project Cafe 5, by Allegra Strategies, says the branded coffee bar sector is expected to expand...

Gourmet Holdings makes Bel buy.(Eating & drinking news)(Gourmet Holdings)(Bel and the Dragon )(Brief Article)
August 1, 2004... Gourmet Holdings, the company formerly known as Madisons Coffee has bought Bel and the Dragon in a cash and shares deal worth up to 6.28m [pounds sterling]. The deal marks Gourmet Holdings' first move away from its coffee business and into the...

Leopards nominations and BISL speakers unveiled.(Industry news)
August 1, 2004... The first round of nominations for the inaugural Leopards--The Leisure Operator Awards has been revealed. To the right is a list of the companies that have so far been put forward for the awards, which are organised by Leisure Report and...

Leisure GMs get bigger pay rises than chief execs.(Industry news)(Brief Article)
August 1, 2004... General managers and area directors within leisure and hospitality firms got bigger average percentage salary rises in 2003/2004 than chief executives. According to The 2004 Annual Remuneration Survey of the Leisure Industry, average...

DCMS confirms timetable for reform of licensing laws.(Industry news)(Brief Article)
August 1, 2004... The confirmation of the beginning of the Act's transitional period, when applications for conversions to new licences can be made, came as the DCMS published the final key guidance to assist local authorities in delivering the new Act....

New head for parliamentary body.(Industry news)(Brief Article)
August 1, 2004... The All Party Leisure Group set up to improve links between parliament and the leisure industry has elected Jim Knight, the MP for Labour-controlled South Dorset, as its new chairman. The keen europhile is a former mayor of Frome and...

Healthy ambitions: Patrick Fitzgibbon tells Mel Flaherty how he plans to differentiate LivingWell in the fitness club market.(Profile)
August 1, 2004... While the majority of us nurse hangovers and contemplate left over turkey, Patrick Fitzgibben, the recently-installed new managing director of LivingWell Health Clubs, the Hilton Group-owned fitness firm, plans to spend Boxing Day this year...

Wembley's waiting game: Dominic Walsh looks into BLB's shock withdrawal of its offer for the gaming group.(Behind the headlines)
August 1, 2004... The ups and downs of gambling have been amply demonstrated in recent months by events at Wembley, the gaming operator that derives the lion's share of its profits from Lincoln Park, its racetrack and gambling emporium in Rhode Island. When...

Small football becomes big business: Duncan Rowe looks into the growing commercial five-a-side market.(Sector update)(Football Association)
August 1, 2004... Forget the tabloid headlines about Premiership players pocketing 100,000 [pounds sterling] a week and transfer deals worth in excess of 30m [pounds sterling], the real action is on the five-a-side court. Well, maybe that's a bit of an...

Europe and the UK leisure industry: PY Gerbeau examines the potential impact of the UKIP's policies on leisure and tourism in this country.(Opinion)(UK Independence Party)
August 1, 2004... Since the shock results at the European election, when the UK Independence Party tipped the Liberal Democrats into fourth place, there seems to have been a heightened awareness of European issues in the national psyche. U KIP has obviously...

Leisure Report LR Index leisure stockwatch August 2004.(Sharewatch & diary dates)(Illustration)
August 1, 2004... The format and companies included in the sharetable have been changed since last month to present the most relevant information in as user-friendly way as possible. A number of companies have been added to provide better representation of the...

Diary dates.(Calendar)
August 1, 2004... September Event: The Evolving Landscape of British Horseracing Date: 13 Location: London, tba Description: Day-long event, supported by Leisure Report, examining changes to racing in a competitive betting market and the continuing debate...