Leisure Report articles from August 2005

Leisure Report archives from August 2005

Esporta sells 13 sites to Virgin Active.
August 1, 2005... Esporta, the premium health club operator, announced its had sold a 13-club package of its non-core health and fitness clubs to Virgin Active, completing its exit from the Spanish market, as indicated ill Leisure Report last year. This is...

Casino planning rules consultation announced.(Brief Article)
August 1, 2005... A consultation on tightening the planning rules for casinos was announced by Baroness Andrews, minister of the Office of the Deputy Prime Minister, as Leisure Report went to press. Currently casinos are classed as 'Amenity and Leisure'...

Nothing to fear but fear itself?(Inside track)(lesiure activities cut back)
August 1, 2005... I confess I had already prepared my inside track this month; an effusive and congratulatory homage to the team--the entire team and not just the more prominent media faces--that won the 2012 Olympics. It would have been a pleasure to...

OFT calls on SMEs to report anti-competitive practices.(Office of Fair Trading, small and medium sized companies)
August 1, 2005... Nearly a quarter of small and medium sized enterprises across Britain believe they are harmed by unfair practices such as cartel price fixing and collusion to set tender prices, says new research from the Office of Fair Trading. The...

BHA calls for small business licence fee and red tape reduction.(British Hospitality Association)
August 1, 2005... The British Hospitality Association is to call for small hospitality businesses to pay lower fees for their licences. The BHA says that small hotels and restaurants with a high rateable value but relatively low alcohol sales will pay more...

Clarity up 2%.(Clarity Commerce Solutions)(Brief Article)
August 1, 2005... Clarity Commerce Solutions, which supplies software products to the leisure sector, reported a full-year pre-tax profit of 763,000 [pounds sterling], up from 744,000 [pounds sterling] last year. Turnover increased by 22% to 16.3m [pounds...

Profits up but turnover takes a dip at Deep Sea Leisure.(Brief Article)
August 1, 2005... There was mixed news from Deep Sea Leisure, operator of the Blue Planet aquarium in Chester and Deep Sea World in Edinburgh, which reported that during the six months to 30 April 2005 it had seen pre-tax profits increase by 18.4% to 309,000...

Gaming Corporation rapidly expanding its offering.
August 1, 2005... It has been a busy summer so far for Gaming Corporation, the leading gaming portal operator and owner of www.gambling.com and www.casino.co.uk, as the group unveiled a number of strategic deals. Gaming Corp announced it had signed a deal...

Top Ten acquires 13-strong Westvale bingo estate for 5.35m [pounds sterling].(Top Ten Holdings, Westvale Leisure)
August 1, 2005... Top Ten Holdings, the UK's third largest bingo operator, acquired Westvale Leisure, the parent company of Walker Leisure, which operates 13 bingo clubs in the midlands and north of England, for 5.35m [pounds sterling]. Top Ten's portfolio...

William Hill climbs.(William Hill Organization Ltd.'s shares rises)(Brief Article)
August 1, 2005... Shares in William Hill rose over 5% after it said sporting results had improved in recent weeks and attempts to pull back costs were having a positive impact. Gross win at the half-year stage on 28 June was level compared with a year earlier....

Gala gets New Generation club for 18m [pounds sterling].(Betting and gaming news)(New Generation Bingo acquisition)(Brief Article)
August 1, 2005... Gala Group, the bingo and casino operator, has acquired New Generation Bingo for 18m [pounds sterling]. New Generation owns and operates Basingstoke's Club 2000, a 25,000 sq ft purpose-built bingo club. The acquisition is Gala's...

Ladbrokes makes Welsh move with Jack Brown deal.(Betting and gaming news)(Brief Article)
August 1, 2005... Perhaps Hilton's gaming arm will soon become known as Lladbrokes, after the division significantly boosted its presence in Wales with the acquisition of Jack Brown, the Welsh betting shop firm. Ladbrokes paid 76m [pounds sterling] to...

Betfair IPO close.(initial public offerings)(Brief Article)
August 1, 2005... Betfair indicated it is preparing for a flotation by naming Morgan Stanley and Goldman Sachs as financial advisers. The world's largest internet being exchange is under pressure from some of its 175 share holders to proceed with an initial...

Off-colour LCI looks to future as refurbishment delays erode profits.(London Clubs International PLC)(Brief Article)
August 1, 2005... London Clubs International, operator of seven UK casinos and three overseas sites, posted a pretax loss of 1.4m [pounds sterling] for the year ended 27 March 2005, after delays in refurbishing its venues and volatility in its top-end London...

Revenues up at ukbetting as poker and casion divisions lead charge with 106% rise.(Brief Article)
August 1, 2005... There was good news for ukbetting, the online gaming and content business, which saw operations across the business perform well during the first half of 2005. In a trading statement the firm said total sales were up 30% on the same period...

De Vere leads steering group to benchmark bench-pressers.(De Vere Group PLC)(Brief Article)
August 1, 2005... An industry steering group led by De Vere Group has spearheaded a move amongst some of the key players in the health and fitness industry to establish a financial benchmarking service. Operators will be able to obtain current, accurate,...

Healthy Living eyes healthy future through growth.(Healthy Living Centres)(Brief Article)
August 1, 2005... Healthy Living Centres, formerly known as Motorcise, unveiled a reduced loss of 705,515 [pounds sterling] for the year ended 31 December 2004, compared with a loss of 840,000 [pounds sterling] for the previous year, and said it was "cautiously...

Spa and Resorts injects cash into Eden Day sites.(Health and fitness news)(Eden Day Spas)(Brief Article)
August 1, 2005... Spa & Resorts Operations has announced that it is to spend 40m [pounds sterling] across its properties, including the expansion of spa facilities at Hoar Cross and Nottinghamshire. Hoar Cross Hall will see a 6,000 sq m expansion to both its spa...

Fitlinxx promotes the Wright man for Europe as it reshuffles its sales team.(Health and fitness news)(Simon Wright)(Brief Article)
August 1, 2005... FitLinxx, the fitness management technology group, announced that Simon Wright, previously vice president for strategic business development, has been appointed to the role of managing director for FitLinxx Europe. He will acquire overall...

Energie adds Wilmslow site.(The Club Sportif Health Club)(Brief Article)
August 1, 2005... The Energie fitness club chain has added The Club Sportif Health Club, in Wilmslow, Cheshire, to its estate. The site was bought through Christie & Co by Kim Massey, a local businessman, who will run it under the Energie brand. Jan...

Charlton raises funds and adds non-exec.(Charlton Athletic, Derek Guy Chappell)(Brief Article)
August 1, 2005... Charlton Athletic announced it had raised more than 5m [pounds sterling] through the successful placing of new shares on the stock exchange. The new shares, representing 14.35% of the enlarged issued share capital of the company, were...

Ranson aiming to be buyout hero for Villains.(Ray Ranson, Aston Villa Football Club PLC)(Brief Article)
August 1, 2005... Aston Villa is bracing itself for a second takeover bid from former Manchester City defender Ray Ranson. Just 15 months after a 33m [pounds sterling] bid was dismissed out of hand by Doug Ellis, Villa's octogenarian chairman, it appears Ranson...

More changes in the Heart of Midlothian boardroom.(resignations, appointments)(Brief Article)
August 1, 2005... Chris Robinson, former chief executive of Heart of Midlothian, has resigned from his position as a non-executive director with the club, while and Lithuanian born Julia Goncaruk joins the eight-strong board with immediate effect, strengthening...

Burnige quits Lions.(Sport news)(Jeff Burnige resigned his job)(Brief Article)
August 1, 2005... Jeff Burnige, Millwall chairman, has resigned after less than two months in the role at the New Den. A statement released to the stock exchange said Burnige had left the job for "personal reasons" but would remain a director of the company and...

Leisure Report LR Index football stockwatch.(Sport news)
August 1, 2005... There were some surprisingly large movements in the share prices of listed football clubs, considering the lack of news and information coming out of the sector, during the traditionally quiet, but ever briefer, off-season. Aston Villa...

Luminar takes entertainment arm off market.(Cinema and entertainment news)
August 1, 2005... Luminar, Britain's largest nightclub business, has withdrawn its entertainment division from the market, after offers failed to match the company's own valuations. The company has ring-fenced the division, which includes the Chicago Rock...

Outlook gloomy as Ultimate issues profits warning.(Cinema and entertainment news)(Brief Article)
August 1, 2005... Ultimate Leisure said that it had seen a further downturn in trading since 28 April and warned that it expected current trading conditions to continue for the foreseeable future. The bar and nightclub operator said that profits for the year...

OFT clears Mean Fiddler takeover.(United Kingdom Office of Fair Trading, Clear Channel Entertainment, Gaiety Investments )(Brief Article)
August 1, 2005... The Office of Fair Trading has decided not to refer the acquisition of Mean Fiddler by Clear Channel Entertainment to the Competitions Commission. Mean Fiddler accepted the 37.9m [pounds sterling] takeover bid in April. Clear Channel...

Urbium set for bidding war as Regent withdraws offer.(Cinema and entertainment news)(Urbium PLC)(Brief Article)
August 1, 2005... Urbium looks set to be sold to the highest bidder after Regent Inns withdrew its offer for the bar and nightclub operator. Regent Inns has ended its discussions citing refusal by Urbium's board to see its final 975 pence per share offer as...

Georgica to refinance.(Cinema and entertainment news)(Brief Article)
August 1, 2005... Georgica, the largest cue sports and tenpin bowling operator in the UK, is to undergo a refinancing exercise, through the offer of up to 60m [pounds sterling] of Senior Second Secured Floating Rate Notes, due 2012. The company issued the...

UK hotels flourish, but London bombings knock confidence.(Tourism and attraction news)
August 1, 2005... The UK hotel industry built on its growth in April to record increases in room yields for both regional and London hotels in May, according to the latest figures from PKF, but the recent suicide bombings in London caused a sharp, if temporary,...

Visa price increase will hurt tourism.(Tourism and attraction news)(Brief Article)
August 1, 2005... UKinbound, formerly the British Incoming Tour Operators' Association, has said that increasing the cost of visas for entry into the UK would result in the UK being "taken off tour operators' itineraries." Research by the Tourism Alliance...

'Erratic' bookings as Parkdean widens loss.(Parkdean Holidays)(Brief Article)
August 1, 2005... Parkdean Holidays reported a half-year pre-tax loss of 9.6m [pounds sterling], up from last year's 5.6m [pounds sterling] loss but in line with the consensus forecast. Turnover rose to 19.4m [pounds sterling] for the six months to 30 April...

Center Parcs submits application for fifth site as summer sales lift figures.(Tourism & attraction news)(Brief Article)
August 1, 2005... Center Parcs reported a 6.4% increase in full-year pre-tax profit to 26m [pounds sterling]. In its first full year of trading as a listed company, turnover rose by 0.9% to 229.6m [pounds sterling]. Occupancy was down from 93.3% to 92.4%....

GMB demands pay rise for leisure workers.(General, Municipal, Boilermakers and Allied Trades Union)(Brief Article)
August 1, 2005... The hotel & catering branch of the GMB, Britain's general union, organised a demonstration at the British Hospitality Association's 95th Annual Luncheon in protest at low pay in the sector. The protestors lobbied the event, held in London on 7...

EC makes coke open its fridges to competitors.(Food and drink news)(European Commission)(Brief Article)
August 1, 2005... The European Commission has said Coca-Cola must reform restrictive practices that encourage pubs, shops and cafes to stock only its products. Following an investigation by the European Commission, the company has agreed to let rival brands...

Starbucks hopes Dylan tie-in will prove a hit with customers.(Sony BMG Music Entertainment )(Brief Article)
August 1, 2005... Starbucks has announced that it will sell "Bob Dylan: Live at the Gaslight in 1962" exclusively through its stores for 18 months before the album hits traditional retailers. Fans consider the Dylan album, which features hits such as "Don't...

Krispy Kreme appoints new accounting officer as six executives take the fall.(Brief Article)
August 1, 2005... Krispy Kreme has appointed Douglas R Muir as chief accounting officer. He will replace Michael Phalen who previously had responsibility for the group's accounting. Muir has been working as a consultant to the company since December...

Burger King fans IPO flames.(Food & drink news)(initial public offer)(Brief Article)
August 1, 2005... Burger King has reignited rumours of an IPO as early as next year, with the group likely to be valued at around $2bn (1.1bn [pounds sterling]). An IPO was described as the "most likely exit" for the company's current owners, by Greg...

Coffee Republic Deli signs Spanish franchise deal.(Property & development news)(Brief Article)
August 1, 2005... Coffee Republic is looking for franchisees for its Coffee Republic Dell brand, both in the UK and abroad. The group has already signed a deal covering Spain, with the first site set to open at the end of September in Malaga airport. ...

Little Chef close to 55m [pounds sterling] sale to Out-of-Towners.(Property & development news)(Brief Article)
August 1, 2005... Lawrence Wosskow and Simon Heath, the founders of Out of Town, which runs sites in shopping centres and leisure parks, are in exclusive negotiations to purchase the Little Chef restaurant chain. The deal, which is expected to complete...

McD's announces new initiatives and marketing boss.(Property & development news)(McDonald's appoints Dominic Rowell)(Brief Article)
August 1, 2005... McDonald's has appointed Dominic Rowell as head of marketing to replace Laurie Morgan, who was promoted to vice-president of marketing earlier this year. Rowell joins the company from J Sainsbury, where he was head of loyalty and direct...

Eastern Europeans fill hospitality gap.(Property & development news)(Brief Article)
August 1, 2005... Eastern European workers are filling the widening skills gap in British restaurants. Whilst young Britons have never been very attracted to the hospitality industry, over 120,000 new workers have arrived from Eastern Europe in the last 12...

Compass to expand Upper Crust.(appoints Chris Burton)(Brief Article)
August 1, 2005... Compass Group has appointed Chris Burton as brand director for the Upper Crust chain. Burton will manage and develop the brand internationally, expanding it outside the 26 countries in which it already operates. He will replace Andrew...

RSPCA to judge restaurants.(Property and development news)(Royal Society for the Prevention of Cruelty to Animals)(Brief Article)
August 1, 2005... The RSPCA has launched the RSPCA Alternative Awards, which will recognise fast-food outlets using products that guarantee the welfare of animals. The charity said that research found that 76% of people would avoid a restaurant with poor...

TRG opens Luton concessions.(The Restaurant Group opens three new restaurants in Luton Airport)(Brief Article)
August 1, 2005... The Restaurant Group has opened three new sites in London Luton Airport. TRG has opened Est Bar Est offering "simple food and drink amidst a relaxed atmosphere", Est Restaurant, and the Juice & Bagels Store, offering fruit, juices and...

Financiers feel PE firms are muscling them out of M&A arena.(Private Equity)(Mergers and acquisitions)(Financial Times Stock Exchange debt trading worries)
August 1, 2005... New research from Close Brothers Corporate Finance focusing on the secondary debt market reveals that despite the FTSE-250 recently reaching an all time high, 88% of FTSE-250 finance directors feel they are at a material disadvantage when it...

Rental increases are slowing in London.(Industry news)(Brief Article)
August 1, 2005... Fleurets said that rents in the West End had risen by 264% in the ten years to 1989, but at the slower rate of 53% over the past ten years. The UK business property valuers and surveyors also said rental growth in the restaurant sector will...

Poppleston Allen warns of summer police presence.(Industry news)(Poppleston Allen)(Brief Article)
August 1, 2005... Poppleston Allen, the legal firm, has warned licensees to ensure that they regularly update their training in the run-up to a summer that is expected to see another blitz on irresponsible retailing. While the Home Office has said that it...

Avanti nabs 1,000.(Avanti Screenmedia contracts with bars and pubs)(Brief Article)
August 1, 2005... Avanti Screenmedia announced that it had passed its target of signing up 1,000 bars and pubs by the end of June. Avanti, which provides "screenmedia" to the leisure and retail sectors, reckons UK annual expenditure for its offer will reach...

BDO predicts leisure bankruptcies will rise.(Industry news)
August 1, 2005... The number of companies declared bankrupt is set to rise through 2006, with the leisure and retail sector faring worst, according to BDO Stoy Hayward, the global audit, accounting and business services firm. The group's industry watch...

Businesses losing battle to retain the brightest female minds.(Industry news)
August 1, 2005... An increasing number of top female executives are opting out of organisational life, leaving employers with a huge gap in their workforce and struggling to comprehend their female employees' resignations, according to Croner, the business...

Playgolf tees up 100-acre multi-sport site.(Property & development news)(Playgolf Holdings, South Lanarkshire Council)(Brief Article)
August 1, 2005... Playgolf Holdings, the owner and operator of golfing facilities in London and Manchester, has acquired a new 100-acre multi-sport site at East Kilbride in south east Glasgow. A 125-year lease has been signed with South Lanarkshire Council...

Hilton pulls out of Great Yarmouth development.(Property and development news)(plan to build hotel and casino)(Brief Article)
August 1, 2005... Hilton Group has pulled out of plans to build a four-star hotel and casino on Great Yarmouth pleasure beach. Following the government's decision to grant a licence for only one regional casino, Hilton has decided not to go ahead with the...

Plans announced for a new centre of sporting excellence in Norwich.(Property & development news)
August 1, 2005... A proposed multi-million pound sports scheme in Norwich would turn ten acres on a city centre site at Lakenham into a nationally recognised centre for sporting excellence for all ages. The outline plans for the project have been put...

Golfrate plans leisure options for Trocadero.(acquisitions of Golfrate Group )(Brief Article)
August 1, 2005... Golfrate Group has said it is currently considering various leisure developments for the Trocadero centre in Piccadilly Circus, London. A spokesman for the company told Leisure Report: "We are evaluating a number of leisure options for the...

More people, more active--progress on targets: the annual 'State of the UK Fitness Industry Report' shows encouraging growth.(Analysis--State of the industry)(Industry Overview)
August 1, 2005... Good progress towards activity targets for the UK population is reported-just one of the key conclusions to emerge from the recently published intelligence issued by the Fitness Industry Association (FIA) and The Leisure Database Company. ...

There's not always blame where there's a claim: Anne Davies from Vizards Wyeth says leisure firms should fight compensation claims.(Business Sense--Compensation culture)
August 1, 2005... The Radio 4 Today programme reported on 21 June the demise of the egg carton and toilet roll tube as materials for the construction of just about everything imaginable in every primary school, including rather good Daleks. The reason given by...

Look after the pennies ... the pounds are already accounted for! Janet Salmon takes a look at changes in financial packages in the sector.(Business Sense--Remuneration)
August 1, 2005... The Annual Remuneration Survey of the leisure industry was established in 1990, and monitors the remuneration packages of chief executives, directors and senior managers. The remuneration strategies in leisure companies have become more...

Party poopers fail to dampen investors' spirits: Dominic Walsh says it was the job of the media to scrutinise PartyGaming's IPO, even if they were wrong.(securities and management of PartyGaming)(Column)
August 1, 2005... Rarely have I seen a stock market flotation dominate the news agenda like that of PartyGaming. The sum total of the column inches written about the issue almost matched the size of the Croesus-like fortunes crystallised by the 4.64bn [pounds...

Leisure Report LR Index leisure stockwatch July 2005.(Sharewatch & diary dates)(Industry Overview)
August 1, 2005... Georgica shares were one of the most impressive performers among leisure shares last month, gaining just over 16% after the company unveiled plans to refinance through a 60 [pounds sterling]mlong-term floating rate note, to fund expansions and...

Diary dates.(Sharewatch & diary dates)(Brief Article)(Calendar)
August 1, 2005... August Event: Australasian Spa Association Annual Conference Date: 20-22 Location: Melbourne, Australia Description: Highlights include four keynote speakers, panel discussions and individual speakers to engage the whole...