Leisure Report articles from February 2007

Leisure Report archives from February 2007

Casino properties to drive leisure sector consolidation in 2007.(Inside track)
February 1, 2007... There will be further overseas investment in the UK casino sector, with ongoing consolidation between single site/smaller multiple operators during the next 12 months, according to Christie & Co's recently released Business Outlook 2007. ...

A good year for the roses ...(Inside track)
February 1, 2007... With the clear exception of online gaming stocks, last year proved to be, on the whole, a good year for companies operating in the leisure sector. Much of the upside was provided by the huge amount of corporate/M&A activity, which looks...

Deep Sea Leisure posts dip in pretax profits as energy costs weigh.(News)(Financial report)(Brief article)
February 1, 2007... Deep Sea Leisure, which operates two aquariums in the UK featuring marine life, has reported a pre-tax profit of 1.417m [pounds sterling] for the year to 31 October 2006, down from 1.650m [pounds sterling] in the previous year. Turnover at...

Revised licensing guidance published.(News)(Brief article)
February 1, 2007... The government has published the revised guidance for the Licensing Act and launched a consultation to discuss the amendments. The revised legislation says that there should be more emphasis on 'no presumption' in favour of longer opening...

Parkwood opens flagship fitness club.(News)
February 1, 2007... Parkwood Leisure, Parkwood Holdings' leisure facility operating business, has opened its flagship health club in Salisbury, Wiltshire under its 'Health and Fitness' brand. The 25,000 sq ft, purpose-built club is spread over two floors and...

Businesses urged to get more from 'balanced scorecards'.(News)
February 1, 2007... Egremont, the change management consultancy, is urging businesses to use balanced scorecards to their full potential, in order to realise the benefits of the performance-enhancing solution. Research suggests that although half of UK...

Expansion for energie as it signs master franchise agreement in Eire.(News: Health & Fitness)
February 1, 2007... Health club operator energie Fitness Clubs has stepped up its expansion drive and secured its first overseas master franchise agreement. Three investors have bought the rights to sell energie Fitness For Women franchises in the Republic of...

100,000 new joiners expected in January.(News: Health & Fitness)
February 1, 2007... More than 100,000 people were expected to join UK fitness clubs in January, as they act on New Year's resolutions to improve their fitness, according to the HealthClubBenchmark Survey by Deloitte. The number of people joining health clubs...

Bid rumours continue as JJB grows fitness division.(News: Health & Fitness)
February 1, 2007... Persistent bid rumours of a takeover, coupled with news that JJB Sports has improved its trading performance, helped boost shares in the company in early January. Speculation that Apax Partners, the private equity firm, has built a stake...

Fitness First looks to the east.(News: Health & Fitness)
February 1, 2007... Fitness First is to expand into India and Russia, after gaining up to 70m [pounds sterling] in an equity fundraising, according to The Times. The company also plans to increase the number of clubs it already operates in 17 countries from...

AHG on course for 50m [pounds sterling] Greens sale.(News: Health & Fitness)(Alternative Hotel Group)(Brief article)
February 1, 2007... AHG, the firm controlled by Richard Balfour which last year bought the De Vere Group for some 1.1bn [pounds sterling] including debt, is on track to offload Greens, De Vere's standalone health club operation. There are currently a number...

NFL to touch down in London for first ever overseas gridiron game.(News: Sport)
February 1, 2007... London has been chosen to host the USA's National Football League (NFL) in its first ever regular season game to be held outside the Americas. Working with the Mayor's office, Visit London has been instrumental in ensuring London won the...

Newcastle Utd bid talks falter.(News: Sport)(Newcastle United)(Belgravia)(Brief article)
February 1, 2007... Takeover talks at Newcastle United seemed to have stalled as Leisure Report went to press, sending the club's shares tumbling. Belgravia, a group of unnamed investors, had been interested in a deal, but the club said that although it had...

Sports centre operator wins backing for expansion.(News: Sport)
February 1, 2007... A sports centre operator that will be hosting next year's Indoor Cricket World Cup has received 1m [pounds sterling] of development funding. Action Indoor Sports Stadiums secured the investment from YFM Group and Sport England. The YFM...

Holiday Inn to open at Norwich City ground.(News: Sport)
February 1, 2007... InterContinental Hotels Group (IHG) has invested several million pounds in developing a Holiday Inn next to Norwich City's Carrow Road football ground. The 150-room hotel, which will be located between the stadium's Barclay and Jarrold...

Playgolf signs joint venture for Scottish development.(News: Sport)(Playgolf Eastkilbride)(Brief article)
February 1, 2007... Playgolf Eastkilbride, Playgolf's wholly owned subsidiary, announced it had signed a joint venture agreement with Kilmartin, the Scottish property developer to develop the company's East Kilbride site. Kilmartin is subscribing for a 50%...

Playtech signs landmark Chinese gaming software agreement.(News: Betting & Gaming)
February 1, 2007... Playtech, the listed designer, developer and licensor of software for the online and land-based gaming industry, said it had agreed a landmark five-year software licensing agreement with China's leading gaming group, Sino Strategic...

Newplan for sale of Tote.(News: Betting & Gaming)(Brief article)
February 1, 2007... The government announced it has invited a consortium of racing interests--the Race Course Association, the Racehorse Owners Association and the Racecourse Holdings Trust--together with management and staff of the Tote itself, to make a final...

EC clears Hill's Italian job.(News: Betting & Gaming)(European Commission)(William Hill's joint venture with Codere )(Brief article)
February 1, 2007... The European Commission has cleared William Hill's proposed joint venture with Codere relating to the Italian gambling sector. The JV will be established to exploit the 55 retail and two remote licences the firm has won in Italy. In...

Ladbrokes wins multiple licences in Italy.(News: Betting & Gaming)
February 1, 2007... Ladbrokes has been awarded a total of 142 new betting licences in Italy. The new licences include 33 for licences, 58 sports betting licences, and 51 non-dedicated betting licences. The non-dedicated licences, or betting points, refer to...

PartyGaming buys EOL and Intercontinental assets.(News: Betting & Gaming)
February 1, 2007... As expected, PartyGaming announced it had bought the assets of Empire Online (EOL), as well as those of smaller rival Intercontinental. PartyGaming has acquired the assets, players and gaming-related contracts associated with EOL's gaming...

Sportingbet to hit FY targets.(News: Betting & Gaming)(Brief article)
February 1, 2007... Sean O'Connor, senior independent director at Sportingbet, said the company was on track to meet full-year profit forecasts. "Sportingbet is trading in line with market expectations and our ongoing European and Australian businesses and non-US...

Online bingo market set for crucial 2007, say conference delegates.(News: Betting & Gaming)
February 1, 2007... 2007 will be a critical year for the development of the online bingo offering, according to delegates at the inaugural Online Bingo Europe conference, held in December. Phil Fraser, founder of Which Bingo, opened the event with a keynote...

European Commission and Parliament to meet gaming industry representatives.(News: Betting & Gaming)
February 1, 2007... The gaming and gambling industry will pose questions to the European Commission and European Parliament in London on 22 January, with a view to getting further clarity on Article 49, the services directive, and a push for greater harmonization...

Tattersall ups Talarius bid.(News: Betting & Gaming)
February 1, 2007... Tattersall, the Australian gaming group, has increased its offer for British amusement arcade company Talarius, despite having already secured agreement for a 270p-a-share bid. It did not say why it had raised its offer (by 3.7%), and the...

Harrah's accepts $17.1bn takeover bid from PE firms.(News: Betting & Gaming)
February 1, 2007... The board of Harrah's Entertainment, the American casino operator, has agreed to accept a $90-a-share bid by Apollo Management and Texas Pacific Group, the private equity groups, in a deal that values the company at $17.1bn (8.7bn [pounds...

L&G to meet expectations.(News: Betting & Gaming)
February 1, 2007... Leisure & Gaming, the online sports betting and gaming group, announced it expects trading for the year to 31 December 2006 to be in line with expectations. The company said revenues from Betshop.com and its continuing businesses since the...

Gaming firms tipped for 2007.(News: Betting & Gaming)
February 1, 2007... PartyGaming and Ladbrokes have been heavily tipped as likely star performers for 2007. Jim Wood-Smith, head of research at Williams de Broe, said PartyGaming's share price reflects "neither the growth potential of the remaining markets in which...

Georgica reports sales decline in both key operating divisions.(News: Cinema & Entertainments)(Georgica PLC)
February 1, 2007... Georgica, the leisure group, has reported that same outlet sales across its Tenpin and Riley's divisions were down 0.5% and 2.9% respectively, for the year to 31 December 2006. The company described trading in Riley's, its snooker and pool...

Novus sees 25% sales rise over holiday season.(News: Cinema & Entertainments)(earnings of Novus Leisure)(Financial report)(Brief article)
February 1, 2007... Novus Leisure, the bar and pub group, reported a 25% increase in sales across its entire estate during the festive trading period. Steve Richards, the company's chief executive, said that the group's flagship Tiger Tiger bar and restaurant...

Encouraging signs at Luminal.(News: Cinema & Entertainments)(Brief article)
February 1, 2007... Unveiling a trading statement for the five weeks ending 4th January 2007, Luminar, the branded destination venue business, said it was "pleased to report an encouraging sales performance during the important festive period". Like-for-like...

Struggling Sports Cafe ends takeover talks.(News: Cinema & Entertainments)
February 1, 2007... Sports Cafe, the listed operator of the eponymous chain of licensed sports bars, has announced it has terminated talks regarding a possible takeover. The group said it had still not received a formal satisfactory offer despite ongoing...

Ultimate posts satisfactory Christmas trading figures.(News: Cinema & Entertainments)(Ultimate Leisure)(Brief article)
February 1, 2007... Ultimate Leisure, the Newcastle-based late-night bar and club operator, has reported a 1% increase in like-for-like sales in December. The group said the rise in sales reflected the benefits of both its reinvestment programme and increased...

Festive sales boost Bowlplex.(News: Cinema & Entertainments)(Financial report)(Brief article)
February 1, 2007... Bowlplex has reported a sharp increase in sales over the Christmas and New Year period. The Dorset-based company, which owns and operates 16 total entertainment centres across the UK, has seen an increase in its overall group trade sales,...

Surge in domestic day trips as expenditure tops 37bn [pounds sterling] in 2005.(News: Tourism & Attractions)(Brief article)
February 1, 2007... Days trips are rising in popularity in the UK, with Britons making 870m tourism daytrips and spending 37.4bn [pounds sterling] in England in 2005. Research by VisitBritain found that spending on days out increased by 21% since 2003,...

Great expectations for Dickens World.(News: Tourism & Attractions)(Brief article)
February 1, 2007... Dickens World, the forthcoming 62m [pounds sterling] literary-themed visitor attraction set to open this spring in Chatham, Kent, is taking shape as construction and set work continues, with a number of key features now nearing completion. ...

ONS records 7% rise in UK visits.(News: Tourism & Attractions)(Office for National Statistics)(Brief article)(Statistical data)
February 1, 2007... The Office for National Statistics said overseas residents made 8.1m visits to the UK between September and November 2006. This was 7% more than in the corresponding three months of 2005. Visits from Western Europe were up 7%, from North...

Siblu starts to spend war chest.(News: Tourism & Attractions)(Brief article)
February 1, 2007... Siblu, formerly known as Haven Europe, has bought the Pierres Couchees parc in Loire-Atlantique for an undisclosed sum. The deal is the first following a recent 100m [pounds sterling] refinancing by Hermes Private Equity and Barclays Bank....

New rides for EuroDisney.(News: Tourism & Attractions)
February 1, 2007... Disneyland Paris has announced two new attractions as part of its 2007 expansion plans. Finding Nemo Submarine Voyage will open in June and "will take guests on a real and unbelievable underwater excursion". Later this summer, visitors...

Online travel market faces challenges.(News: Tourism & Attractions)
February 1, 2007... The online travel market continues to show healthy growth but faces significant challenges from shifting competitive dynamics and consumer profiles, according to the latest research from PricewaterhouseCoopers (PwC). In Europe, the online...

Little Chef sites sold to R Capital after firm enters administration.(News: Food & Drink)
February 1, 2007... The bulk of Little Chef's sites have been sold to a newly-formed company funded by turnaround specialists R Capital, for an undisclosed figure. The deal included 196 of Little Chef's 235 restaurants in the UK. R Capital is thought to be...

Loch Fyne signs Sodexho agreement.(News: Food & Drink)
February 1, 2007... Loch Fyne Restaurant, the casual dining group led by Mark Derry, has announced it has signed a licensing agreement with Sodexho, the UK's largest event caterer and provider of corporate hospitality packages. Under the terms of the...

Coffee Republic sees drop in sales, but overseas growth.(News: Food & Drink)
February 1, 2007... Coffee Republic, the coffee and dell bar operator, has reported a 1% drop in like-for-like sales for the six months to 24 September 2006. However, the company also announced it had signed its first international master franchise in Bulgaria...

Sandwich chains taking bigger bite of market share.(News: Food & Drink)(Brief article)
February 1, 2007... Sandwich bars and coffee shops are gradually eating into supermarkets' share of the sandwich market, according to a sandwich industry report published by the British Sandwich Association (BSA). The research found that while supermarkets...

Welcome Break signs Eurotunnel catering deal.(News: Food & Drink)
February 1, 2007... Welcome Break, the motorway services chain, has announced it has signed a deal with Eurotunnel to operate the catering facilities at its passenger terminal at Folkestone. The company said it will be investing in an improved and expanded...

Greggs reports rise in H2 sales.(News: Food & Drink)(earnings of Greggs PLC)(Financial report)(Brief article)
February 1, 2007... Greggs, the high street sandwich chain, has reported a 0.9% increase in like-for-like sales for the six months to 30 December 2006, after seeing a successful end to the year. The company's second-half figures were driven by a 3.3% in...

Record year for leisure property investment in 2006, says Savills.(News: Property & Development)
February 1, 2007... According to the latest UK commercial leisure research from Savills, the total investment in commercial leisure schemes (excluding sales of single pubs, restaurants etc) in 2006 was in excess of 1.2bn [pounds sterling]. This marks the highest...

Riverside buys Greenacre site.(News: Property & Development)(Riverside Sports & Leisure acquires Health and Fitness Racquets Club)(Brief article)
February 1, 2007... Edward Symmons Hospitality & Leisure has acquired Greenacre Health and Fitness Racquets Club, Newbury, on behalf of Riverside Sports & Leisure, a privately owned company which operates a further four clubs in England. The main club...

Bluewater events venue wins planning permission.(News: Property & Development)
February 1, 2007... Bluewater, the shopping and leisure destination, announced it has secured a resolution to grant planning permission from Dartford Borough Council to build a 5,200 sq m exhibition and events venue on site. Lend Lease, managers and developers...

Bishops Storfford leisure park sold for 12m [pounds sterling] .(News: Property & Development)
February 1, 2007... La Salle Investment Management, advised by Savills, has sold Bishops Stortford Leisure Park, on behalf of NILGOSC, to Starion Group for 11.96m [pounds sterling], reflecting a net initial yield of 5.57%. The sale is subject to a top up,...

St Modwen bags sports site.(Laing Homes acquires St. Modwen Properties PLC)(Brief article)
February 1, 2007... Three acres of the 15-acre former GEC sports facility in Rugby, have been sold by St Modwen Properties to Laing Homes for housing, while the remainder of the facility has been leased to the local council for public sports use. Laing...

REIT Asset Management buys 85.5m [pounds sterling] Star City.
February 1, 2007... X-Leisure Fund, the largest owner of leisure real estate in the UK, has exchanged contracts to sell Star City in Birmingham to REIT Asset Management for 85.5m [pounds sterling]. The deal was set to be completed on 18 January 2007, as Leisure...

Hand Picked opens 1m [pounds sterling] leisure site.(Hand Picked Hotels Ltd.)(Brief article)
February 1, 2007... Hand Picked Hotels has opened a new 1m [pounds sterling] health and leisure venue at its Rhinefield House Hotel in The New Forest. The development features an indoor swimming pool, steam room and sauna, plus brand new gym equipment for the...

Industry welcomes release of final smoking ban regulations.(News: Industry)
February 1, 2007... The government has published the regulations for this summer's smoking ban, which starts on 1 July, 2007. The final regulations show little variance with the draft guidelines published in July, with government again stating that smoking...

Government reveals plans to cut red tape.(News: Industry)(Brief article)
February 1, 2007... The UK government has unveiled 500 new measures as part of its pledge to cut the cost of red tape to individuals and businesses by 25% by 2010. The new measures, which are contained in 18 simplification plans, aim to save up to 2.2bn...

Ex-living well directors launch people business.(News: Industry)(Bryony Garrett and Simon Sprowell)(Brief article)
February 1, 2007... A new approach to searching and developing leaders and senior managers in the leisure and hospitality industry has been launched. 'Strictly People' has been founded by two former board directors of LivingWell Health Clubs, Bryony Garrett...

Service boom raises interest.(News: Industry)(Brief article)
February 1, 2007... The service sector saw activity soar in December, with the Chartered Institute of Purchasing and Supply index rising to 60.6%, the highest since June 1997. Hotels and restaurants played a key part in pushing up the figures. The activity has led...

Berkeley Scott raises funds for expansion.(News: Industry)
February 1, 2007... Berkeley Scott, Europe's leading hospitality and leisure specialist recruitment group, has announced that John Bowmer, former Adecco SA chairman, and Tony Reeves, former Hotgroup chief executive, are to take hold of a controlling stake in the...

Climb every mountain: David Minton says scaling a 2km mountain on a bicycle is less of a task than operators face in their efforts to reach out to members.(Insight)(Brief article)
February 1, 2007... The Mont Ventoux is a 1910m high conical peak that's visible from far across the surrounding Provence countryside. With its altitude and the cooling Mistral from the north, it's often snow-capped in April, while the cherry orchards below are in...

Driving an upward curb: roadside dining is becoming a more palatable experience, driven by demand for healthy, fresh food.(Sector Update: Motorway service areas)
February 1, 2007... The UK's Motorway Service Areas (MSAs) are still seen as the last bastion of unhealthy food at even more unhealthy prices. Just two years ago an AA Motoring Trust survey found the UK's service stations to be "the worst in Europe", and...

A spa better thing: spas are now de rigeur at the top end of the market, but can have a high environmental cost.(Insight: Spas and the environment)
February 1, 2007... Spas and "wellness centres" are an increasingly popular antidote to the stresses of life. Operators include sports complexes, health clubs, local councils, hotels, independents, cruise ships and airports (which offer 'spa services' such as...

The two magic words: choice and flexibility: Nicholas Lakeland looks at how the Work and Families Act 2006 will affect employers.(Business Sense: Legal)(Law overview)
February 1, 2007... Choice and flexibility: These magic words are the ones used by the Department Trade and Industry to describe the Work and Families Act 2006. The intention is to help working parents balance the demands of their work with those of family...

Sport England.(People on the move)
February 1, 2007... Derek Mapp, Sport England chair, has announced the appointment of Jennie Price as the new chief executive of Sport England. She will join the organisation in April 2007. Price, a barrister by training, boasts senior management experience in...

Vue Entertainment.(People on the move)(appointment of Eric Nicoli)(Brief article)
February 1, 2007... Vue Entertainment, the multiplex cinema operator, has appointed Eric Nicoli, the EMI Group chairman, as its non-executive chairman. Nicoli will work closely with Tim Richards, chief executive of Vue, to drive the company's growth in the UK and...

Party Gaming.(People on the move)(Janos Lihor quits PartyGaming)(Brief article)
February 1, 2007... Janos Lihor, the boardroom representative of PartyGaming co-founders Russell DeLeon and Ruth Parasol, has left the company with immediate effect. PartyGaming said his departure was intended to maintain the balance of independent and...

The Football Licensing Authority.(People on the move)(Brendon Batson, James Dickie, John Garner and Julie Summerell)(Brief article)
February 1, 2007... The Football Licensing Authority board announced that Brendon Batson, James Dickie, John Garner and Julie Summerell will join the organisation. The FLA is responsible for ensuring that all spectators are able to attend sports grounds in safety,...

Millwall Holdings.(People on the move)
February 1, 2007... Millwall Holdings announced that Richard Towner retired from the board on 8 January 2007. Towner, aged 70, joined the board in June 1997. Millwall said it "would like to thank Mr Towner for all of his hard work, support and commitment to the...

Life Fitness.(People on the move)
February 1, 2007... Life Fitness has appointed Jon Bennett to the position of territory development manager. He will report to national sales manager, Murray Rudkin, and head up the sales and telesales teams that cover the Midlands area. Bennett previously spent...

Ladbrokes.(People on the move)
February 1, 2007... David Briggs, Ladbrokes' e-gaming managing director, has left the company after almost eight years with the bookmaker. He is joining an internet start-up in Asia. Briggs worked directly beneath John O'Reilly, the board director responsible for...

La Tasca.(People on the move)(Martin Evans leaves La Tasca)(Brief article)
February 1, 2007... La Tasca's finance director, Martin Evans, has quit the group after nine years, to pursue "a dream appointment". Evans, who left on 31 December, will be replaced by Matthew Powell. Powell has been financial controller at the group, which...

Glendola Leisure.(People on the move)(appointed David Gough)(Brief article)
February 1, 2007... Glendola Leisure, which owns a number of individual bars, restaurants and hotels, has appointed David Gough as its operations director. Capitis Partners, the executive search firm, said Gough began work with Glendola in December. Gough's...

Whitbread's TGI Friday's.(People on the move)
February 1, 2007... Tim Hammond has left his role as managing director of Whitbread's TGI Friday's restaurant chain, to take up the same position with Barchester Healthcare, the care home company. Hammond, who became managing director of TGI in July 2004, joined...

Paramount Restaurants.(People on the move)
February 1, 2007... Leisure industry veteran John Conlan is to join Paramount Restaurants, which numbers Chez Gerard among its 80 eateries, as non-executive chairman.

British Hospitality Association.(People on the move)
February 1, 2007... Graham Grose has been elected chairman of the national executive of the British Hospitality Association (BHA). Grose, who was previously vice chairman and is managing director of the Thurlestone Hotel in Devon, succeeds David Williams, the...

Chris Woodhouse, the finance director of Debenhams, is to become a non-executive director of Gondola Holdings, the casual dining group.(People on the move)(Brief article)
February 1, 2007... Chris Woodhouse, the finance director of Debenhams, is to become a non-executive director of Gondola Holdings, the casual dining group. The appointment comes as part of changes to the board's structure as a result of its 900m [pounds sterling]...

Gala Coral.(People on the move)
February 1, 2007... John Kelly, chairman of gambling group Gala Coral, has received an OBE in the New Year honours list. An OBE also went to David Sheen, commissioner at the Gambling Commission.

LR Index leisure stockwatch January 2007.(Sharewatch)
February 1, 2007... This month, instead of the usual analysis of the market's performance, we take a closer look at the listed companies we expect to make key plays in the market over the year ahead, with help from the research team at Altium Securities. ...

Diary dates: Feb/March.(Calendar)
February 1, 2007... February Event: SPATEX 07 Date: 4-6 Location: Brighton, UK Description: Exhibition for professionals in the pool, spa and sauna industry Contact: Michele Bridle on +44 (0)1264 358558 www.spatex.co.uk Event: Health...