Leisure Report articles from February 2008

Leisure Report archives from February 2008

Gambling firms and gyms all poised for strong 2008 growth.
February 1, 2008... Despite widespread concern over a downturn in consumer spending, some analysts are maintaining a bullish stance on UK leisure sector companies, with continued growth widely predicted across the gaming, fitness and cinema sectors in 2008. ...

No need for an 'R' in leisure.(Inside track)
February 1, 2008... The international and finance media have taken some stick in recent months for overuse of the dreaded 'R' word--recession. Well excuse us for reporting the facts as we see them. In reality, while it is true that bad news sells more than...

Inspired Gaming builds solid platform for '08.(Breaking News)(Financial report)
February 1, 2008... Inspired Gaming Group, a leading player in the global Open Server Based Gaming (SBG) market that was the subject of a failed takeover approach from Iceland's FL Group last year, has unveiled a pre-tax profit of 3.8m [pounds sterling] in its...

CGT concession provides limited relief.(Breaking News)
February 1, 2008... Alistair Darling, the UK chancellor, has made a further concession to proposals to reform capital gains tax (CGT), which will allow entrepreneurs selling their business assets to take advantage of a lower rate. Darling announced the...

UK boosts Euro Disney attendances.(Breaking News)
February 1, 2008... Euro Disney said its overall revenues increased by 19.9% year-on-year to 340.5m [euro] (252.3m [pounds sterling]) in the first quarter to 31 December 2007. Revenues from the group's resorts division, which includes the Disneyland Resort...

Deep Sea Leisure profit slips as increased utility prices squeeze margins.(Breaking News)
February 1, 2008... Deep Sea Leisure (DSL), operator of two aquariums in the UK, has reported a slight reduction in pre-tax profit to 1.319m [pounds sterling] for the year ended 31 October 2007, compared with 1.417m [pounds sterling] the previous year. The...

FIA pushes importance of new code of practice.(News: Health & Fitness)
February 1, 2008... The Fitness Industry Association (FIA) is stepping up the application of its Code of Practice, as gym membership contracts come under the usual New Year scrutiny. From January 2009, the Code will be audited as a standard procedure for all...

Cash boost for Leisure Connection facilities.(News: Health & Fitness)
February 1, 2008... Leisure Connection, the public access sports and leisure provider, announced that it is planning to invest over 2.6m [pounds sterling] in local leisure facilities, after its owner Danoptra Group secured the support of a banking syndicate, led...

Bannatyne to put 16m [pounds sterling] into estate.(News: Health & Fitness)(Brief article)
February 1, 2008... The Bannatyne Group plans to invest 16m [pounds sterling] on a number of hotel, spa and health club projects. The company announced last August that it planned to open a 10m [pounds sterling] luxury resort on the south coast of England. It...

Club Company eschews price cuts as retention figures soar to 80%.(News: Health & Fitness)(Brief article)
February 1, 2008... The Club Company has reported record retention figures for the third year running, which it attributes to a raft of measures introduced across the group, which do not include rate reductions. The golf, health and country club operator...

US hotel spas see revenues increase based on rising demand for treatments.(News: Health & Fitness)
February 1, 2008... Hotel spa revenues rose by almost 10% in 2006 in the US, illustrating the buoyancy in the spa market, according to PKF Hospitality Research. A study conducted by the group found that a 9.7% increase in hotel spa revenues resulted in an...

UK Sport signs up engineering partner BAE.(News: Sport)
February 1, 2008... OK Sport has joined forces with the defence and aerospace engineering firm BAE Systems in a five-year deal which will see BAE develop new technology to boost British athletes' hopes for the 2012 Olympic Games, to be held in London. Under...

Sports activities contribute 15bn [pounds sterling] a year to England's economy.(News: Sport)
February 1, 2008... Sport-related economic activity in England reached a record high of 15.47bn [pounds sterling] in 2005, a near 50% increase since 2000, according to new research by Sport England. The growth in England's sport-based economy, which includes...

Think tank warns of coaching shortage.(News: Sport)
February 1, 2008... Sportnation, the new national sporting think tank chaired by former athlete Steve Cram, has warned that a serious dearth of qualified coaches could impact the London 2012 Olympic Games legacy. The new report, Are we missing the coach for...

FIA named as 'key delivery partner' for 2012 legacy.(News: Sport)(Fitness Industry Association)(Brief article)
February 1, 2008... Ken Livingstone, Mayor of London, has published 'five legacy commitments' by which he believes the ultimate success of the London 2012 Olympics will be judged. Livingstone said the success of London 2012 will be "judged not just by how...

Goals hits target.(News: Sport)(Goals Soccer Centres PLC )(Brief article)
February 1, 2008... Goals Soccer Centres, the five-a-side soccer operator, said it expects full-year trading to meet expectations. It said trading in its existing sites had been good across all revenue streams and its new sites had performed well. Plans for...

PNE gets sponsor.(News: Sport)
February 1, 2008... Preston North End said Enterprise has agreed to extend its contract as club sponsor until 2010. Enterprise has signed a new contract for two seasons following the end of this season. Financial details were not disclosed.

Blades seek relegation compensation from West Ham.(News: Sport)(Brief article)
February 1, 2008... Sheffield United has confirmed that the company is in the early stages of an arbitration procedure under FA rules against West Ham United, following the Blades' relegation from the Premier League last season. Sheffield United was...

Bingo firms tax warning.
February 1, 2008... Britain's leading bingo operators have warned Chancellor Alistair Darling that the Treasury will be out of pocket unless it scraps VAT on products at their clubs. In an open letter signed by eight of the industry's most senior executives,...

Crown acquires Cannery.(Crown Ltd. has acquired Cannery Casino Resorts)(Brief article)
February 1, 2008... Crown, the Australian gaming company, recently spun out of the Packer media empire, has acquired Cannery Casino Resorts for $1.75bn (858m [pounds sterling]). Cannery currently owns three casinos in Las Vegas, and a casino and racetrack in...

PartyGaming Q4 on track.
February 1, 2008... PartyGaming, the online gaming giant, said that its financial performance in the fourth quarter to date has been in line with its expectations. In a pre-close trading update, the company said it remained confident about its prospects for the...

EGBA launches challenge to German net gaming ban.
February 1, 2008... The European Gaming and Betting Association (EGBA) has lodged a formal complaint with the European Commission over Germany's Interstate Treaty on Gambling.

'White list' updated.
February 1, 2008... Licensed remote gambling operators based in Tasmania will be allowed to advertise in the UK, following a DCMS ruling. Tasmania will be added to the 'white list" Applications from Antigua and Kahnawake were rejected.

888 unveils new bingo network and casino licensing agreements.(News: Betting & Gaming)
February 1, 2008... 888 Holdings, the online gaming group, has signed a licence agreement with Daub for its bingo game software, instant games, back office systems and chat moderator services. The company said under the new deal Daub would also develop and...

L&G sees improvement in Q4.(News: Betting & Gaming)(Brief article)
February 1, 2008... Leisure & Gaming reported a 500% rise in gross profit to 1.8m [euro] (1.36m [pounds sterling]) for the fourth quarter of 2007, a marked improvement following disappointing second and third quarters. In Q4 the company recorded net win of...

Earls Court casino plan fails.(News: Betting & Gaming)
February 1, 2008... Plans to build a 20m [pounds sterling] casino at Earls Court Exhibition Centre have been thrown out for the second time. Planning inspectors have turned down an appeal from Earls Court and Olympia Group, which wanted to build an extension...

Coral to close five bingo halls.(News: Betting & Gaming)(Brief article)
February 1, 2008... Gala Coral is to close five bingo halls with the loss of up to 130 jobs. The news comes weeks after chief executive Nell Goulden said there were no plans for closures. Those clubs listed for closure are situated in Bristol, Edinburgh,...

Dicks returns to Sportingbet.(News: Betting & Gaming)(Brief article)
February 1, 2008... Sportingbet has announced the return of Peter Dicks as its non-executive chairman and the appointment of James Wilkinson as group finance director with effect from 1 February. Dicks was previously non-executive chairman of the company from...

Probability rings in New Year with strong third-quarter performance.(News: Betting & Gaming)(Financial report)
February 1, 2008... Probability plc, the AIM-quoted mobile phone gambling specialist, unveiled a strong set of unaudited key performance indicators (KPIs) for the third quarter of its financial year, from 1 October to 31 December 2007. The firm generated a...

Arena profits are on track for 6m [pounds sterling].(News: Betting & Gaming)(Brief article)
February 1, 2008... Arena Leisure, the racecourse operator, said that it expects to report pre-tax profits for the year to 31 December 2007 in the region of 6m [pounds sterling], in line with market expectations. In a pre-close trading statement, the firm said...

William Hill expects to post FY pre-tax profits of 285m [pounds sterling].(News: Betting & Gaming)(Financial report)
February 1, 2008... William Hill, the bookmaker, said it expects its pre-tax profit for the 53 weeks to I January 2008 to be around the 285m [pounds sterling] mark. It said that in overall terms its retail business, which accounts for 82% of total group gross...

Amazing buoyed by Taiwan election results.(Brief article)
February 1, 2008... Amazing Holdings, which is building a luxury casino resort in Taiwan's Penghu Islands, said the landslide victory by the opposition Kuomintang (KMT) in Taiwan's legislative elections held on 12 January, is seen as "a very positive development"...

Gaming Ventures names Norris as new COO.
February 1, 2008... Gaming Ventures, the quoted mobile gaming and online acquisition vehicle, has announced the appointment of Mathew Norris as its new chief operating officer. The company said that Norris, formerly head of online gaming at Gutshot Poker, had...

Playtech confident for 2008.(Avigur Zmora has been appointed by Playtech as a executive vice chairman)(Brief article)
February 1, 2008... Playtech, the gambling software group, announced that it had seen buoyant trading and is confident that it will meet market expectations for 2007. The firm said it had experienced significant growth in revenues for the last quarter of 2007, and...

Ex-CEO cuts GVC stake.
February 1, 2008... Gaming VC Holdings said former chief executive Steve Barlow has sold 500,000 shares, cutting his stake to about 6.27%.

Karaoke concept tunes up its expansion plans.
February 1, 2008... OK Karaoke, the musical bar concept founded by Garry Wilson, Stephen Hawkins and Chris Silverwood, plans to expand to eight venues over the next four years, after opening its first site in Leeds. The company said that with backing from Endless...

Georgica strife continues.(Report)(Brief article)
February 1, 2008... Georgica, the UK leisure conglomerate, has reported that trading over the Christmas and New Year period was a"little below" expectations, with same-outlet sales down 3.2% for the three weeks to 6 January. The company said that same outlet sales...

Ministry profits dip 'not a true reflection'.(Report)(Brief article)
February 1, 2008... Recently filed accounts at Companies House show Ministry of Sound has suffered a slide in profits. Operating profits fell from 3.2m [pounds sterling] to 1.3m [pounds sterling] in the year to December, on turnover up 39% to 42m [pounds...

Good year for cinema.(Report)(Brief article)
February 1, 2008... Cinema takings in Britain increased 8% last year to 904m [pounds sterling], according to new figures from the UK Film Council and Nielsen EDI--the highest total since records began and up 8% from 2006. Last year also saw the release of the...

Confident MAMA Group swings into maiden full-year pre-tax profit.(News: Cinema & Entertainments)(Financial report)
February 1, 2008... MAMA Group, the Aim-listed live music company, reported a pre-tax profit of 2.14m [pounds sterling] for the 12 months to 31 July 2007, against a 129,000 [pounds sterling] loss during the previous year. The company said that trading since...

Cineworld expects 2008 FY profit to top expectations.(News: Cinema & Entertainments)(Financial report)(Brief article)
February 1, 2008... Cineworld, the listed UK cinema operator, has reported that it expects underlying profit for the year to be towards the top of current market forecasts. The group said its market share of box office rose to 23.7% in 2007, compared to 23.5%...

Older clients boost Luminar.(News: Cinema & Entertainments)(Brief article)
February 1, 2008... Luminar Leisure, the listed nightclub operator, said pre-tax profits for the full year should be within the current market forecast range, despite tougher trading conditions. Although admissions are declining, stronger spend per head from...

Soho Clubs seeks buyer to back expansion plans.(News: Cinema & Entertainments)
February 1, 2008... Soho Clubs and Bars, the business behind 10 West-End nightclubs and bars, is seeking a buyer with the resources to support expansion. Joachim Ritter, chief executive, said: "Despite tricky market conditions during 2007 we have grown...

WTTC predicts tourism growth.(News: Tourism & Attractions)
February 1, 2008... The travel and tourism sector is set to continue growing in 2008, albeit at a reduced rate due to economic uncertainty, according to industry leaders. A study by the World Travel & Tourism Council (W-FIC) and Oxford Economics estimates...

Tingdene buys 2.9m [pounds sterling]-valued site.(News: Tourism & Attractions)(Brief article)
February 1, 2008... Edward Symmons Hospitality & Leisure, the property agents, said it had sold Kingsdown Park Holiday Village in Kent, to Tingdene Holiday Parks. The holiday park comprises a private beach and 6 hectares, with two park buildings, 149 'A'...

OFT agrees 'fair pitch' deal.(News: Tourism & Attractions)(Brief article)
February 1, 2008... The British Holiday & Home Parks Association and the National Caravan Council have reached an agreement with the Office of Fair Trading to offer fairer terms and conditions to consumers buying holiday caravans sited on holiday parks. Both...

3.5m [pounds sterling] Creationist theme park planned for north-west.(News: Tourism & Attractions)
February 1, 2008... A 5,000-capacity 3.5m [pounds sterling] Christian theme park that champions the Book of Genesis is being planned for Lancashire. The AH Trust is a non-profit organisation, set up to build a 5,000-seated television studio to produce...

VisitBritain picks partners.
February 1, 2008... National tourism agency VisitBritain has appointed Grafenstein, Lifelike and CDP to create a new roster of agencies to help market Britain to potential visitors throughout Europe. Together, they will develop and implement marketing campaigns on...

Chill in for Burns.(Brief article)
February 1, 2008... David Burns has been appointed chief executive of Manchester-based Chill Factor, the real snow Alpine village and snowsports centre. The 31m [pounds sterling] centre opened last year, and has been so successful that the company has expanded its...

Popworld plan for 02.(Brief article)
February 1, 2008... The 02 centre is set to be the home of a visitor attraction celebrating the history of pop music in Britain. Dubbed Popworld, the exhibition will combine new technology and rare memorabilia. It could also include the country's first permanent...

Starbucks for Beatles site.
February 1, 2008... Starbucks has announced that it has signed a licensing agreement to open an outlet in the Beatles Story visitor attraction in Liverpool at the end of January. The 2,500sq ft new store, which will be located within the tourist site, will be...

50% aim to buy local food.(Brief article)
February 1, 2008... Britons are becoming increasingly concerned with environmental issues when buying food, with more than half actively trying to purchase local products, according to new research by market research company Nielsen. The study found that 57% of...

Pret suitors to lower bids?
February 1, 2008... Three private equity firms were expected to submit bids for Pret A Manger, the fast food chain which is 33% owned by McDonald's, at well below the target price of between 300m [pounds sterling] and 350m [pounds sterling], as Leisure Report went...

Las Iguanas for Lakeside.
February 1, 2008... Las Iguanas, the Latin American bar-restaurant chain, is set to open a site at the Boardwalk at Lakeside on 1 February. The 760sq m outlet will consist of two floors of dining with 306 covers and an outside area overlooking the lake.

Britons spending ever more time and money on out-of-home dining.(News: Food & Drink)
February 1, 2008... People in the UK now spend on average 25 minutes eating in cafes and restaurants a day, at a cost of 11.41 [pounds sterling] a week, a third more than they spent a decade ago, according to a report compiled by government agencies for the...

Coffee Republic signs new Cineworld distribution deal.(News: Food & Drink)(Brief article)
February 1, 2008... Coffee Republic has announced that it has signed an agreement to roll out its brand to Cineworld sites in the UK. The group has agreed to launch its new 'Coffee Republic Served Here' concept in all the cinema group's 73 sites in the UK,...

Greggs cooks up 5.3% rise in lfls.(News: Food & Drink)(Brief article)
February 1, 2008... Greggs, the high street sandwich chain, has reported a 5.3% increase in like-for-like sales for the 52 weeks to 29 December 2007. The company said that like-for-like sales climbed 5.8% during the 28 weeks to 29 December, while sales over...

11m [pounds sterling] complex for Cheshire.(News: Property & Development)
February 1, 2008... [ILLUSTRATION OMITTED] Construction company Morgan Ashurst has secured a 10.8m [pounds sterling] contract to design and build a flagship 'Lifestyle Centre' for Vale Royal Borough Council in Winsford, Cheshire. The complex is being...

Demand for freehold leisure property to rise.(News: Propery & Development)
February 1, 2008... Demand for leisure businesses with freehold properties will remain buoyant as bricks and mortar positions provide underlying security for investors and operators alike, according to the latest research from Christie&Co, the leisure property...

York Hall reopens.(Brief article)
February 1, 2008... HRH The Duke of Kent opened the newly-refurbished York Hall Leisure Centre, Bethnal Green. Originally opened in 1929 as a public baths, the centre has seen the addition of Spa London, a public sector facility, as well as an updated gym, dance...

Norton House adds spa.(Brief article)
February 1, 2008... Hand Picked Hotels, the luxury hotel chain, has invested 13m [pounds sterling] in refurbishing the Norton House Hotel in Ingliston, outside of Edinburgh. The development includes the extension and transformation of the hotel's existing...

Highland cinema sold.
February 1, 2008... Leisure agency Christie&Co, has sold the Oban Cinema and Highland Theatre, on the west coast of Scotland. Formerly the Phoenix Cinema and Theatre, the venue has capacity for 277 people in two auditoria. Christie sought offers in excess of...

Geilgud made up.(Brief article)
February 1, 2008... Leisure fit out specialist Vivid Interiors has completed a three-month 1m [pounds sterling] refurbishment of the Grade II listed Gielgud Theatre in Shaftesbury Avenue, London, for Delfont Mackintosh Theatres. The fit out included substantial...

30m [pounds sterling] Leeds PFI leisure plans are updated.(News: Propery & Development)
February 1, 2008... The latest plans for two new leisure centres, due to be built in Leeds with funding of 30m [pounds sterling] through the government's Private Finance Initiative have been unveiled by the city council. Artists' impressions and images of the...

Credit crunch will have negative impact during 2008, say CFOs.(News: Industry)
February 1, 2008... Just under 60% of chief financial officers from over 40 leading UK companies expect the credit crunch to have a negative effect on their business in 2008, according to the latest related survey by Deloitte. The fourth quarter 2007 Deloitte...

Private equity buyouts plunge in Q4 2007.(News: Industry)
February 1, 2008... Preliminary figures in the Q4 2007 Unquote Barometer, published by Incisive Media and sponsored by Candover, reveal the full extent of the credit crisis. The value of buyouts during Q4 fell by 50% to 21bn [euro], the lowest quarterly...

Cotton sparks staffing row.(News: Industry)
February 1, 2008... Bob Cotton, chief executive of the British Hospitality Association, has sparked a national debate after he accused British workers of being "unemployable" and lacking the motivation to work. Cotton said it was a "no brainer" whether...

Consumers wary of firms' green claims.(News: Industry)
February 1, 2008... Only 3% of consumers in the UK think that leisure businesses are transparent enough about how they are becoming more environmentally or socially responsible, according to new research by British Telecom (BT), which illustrates high consumer...

Government claims red tape cuts of 800m [pounds sterling].(News: Industry)(Delivering Simplification Plans-report)(Report)(Brief article)
February 1, 2008... The government has cut red tape for businesses by 800m [pounds sterling] through the introduction of 280 deregulation initiatives in the last year, according to a new report by the Department for Business, Enterprise and Regulatory Reform. ...

A sporting chance for change: David Minton says 2008 can be a benchmark year of progress for the fitness industry, if flesh optimism is backed up by action rather than rhetoric.(Insight)
February 1, 2008... I like to think I take my responsibilities as a governor of Sevenoaks Preparatory School seriously and like all governors I'm quite proud of what we achieve. We are blessed with excellent playing fields and through the efforts of the parents we...

Putting the 'and' in health & fitness: at last the industry can make the long-awaited transition from operating 'gyms' to genuine 'health clubs', says Andree Deane, chief executive of the Fitness Industry Association.(Insight: The FIA on the health policy)
February 1, 2008... The recent acquisition of Cannons by Nuffield Hospitals marks a major milestone for the fitness industry, as it consolidates the link between the fitness industry and the health sector. The partnership highlights not just the perception of...

Community spirit faces taxing time: as the Sports and Recreation Trusts Association (SpoRTA) celebrates its 10th anniversary, Abigail Harris looks at some of the success stories, and looks at the challenges ahead.(Insight: SpoRTA)
February 1, 2008... According to the English Oxford Dictionary, a community is a social group of organisms sharing an environment, normally with shared interests. In human communities, intent, belief, resources, preferences, needs, risks and a number of other...

Worth a punt? Our lead story suggests the UK leisure sector is well-poised to make the best of toughening trading conditions in 2008. Duncan Rowe delves into the latest research to find out why.(Insight: Sector research)
February 1, 2008... After the annus horribilis of 2006, UK gaming stocks were beginning to find their footing once again when 2007 heralded the end of the supercasino debate, ongoing global recession fears, and the credit crunch. But 2008 could prove to be the...

Scaling the heights: fundamentals of the leisure industry remain strong but the industry is far from near its peak potential writes Grant Hearn, Travelodge chief executive.(Opinion: Leisure strategy)
February 1, 2008... 2008 can be a year of change and a year of major growth for the UK leisure and tourism industry. Really. Despite some commentators predicting difficulties ahead for the economy I am confident about the future prospects for the sector. Those...

Will Blackpool tower again? Katherine Doggrell visits Blackpool and reports on how that most iconic of British resorts is attempting to revive itself after years of declining visitor numbers and changing tastes.(Insight: Revitalising Blackpool)
February 1, 2008... This month I had the good fortune to be in Blackpool, surrounded by men in white jumpsuits battling to be the very best man-who-died-on-a-toilet they can be. The competition venue was seething with quiffs and rhinestones and went to show...

Who ate all the pies? BDO Stoy Hayward's Jim Pinder says VAT law concerning 'hot' food does not follow a simple recipe, and anyone selling such products must be careful not to get their fingers burned.(Insight: VAT on food)(Value-added tax)
February 1, 2008... HRMC is well-known for cooking up new ways to generate income, but did you know that you could be liable for VAT on the sandwiches and quiches your members buy in your gym, cinema, or casino? The question 'Who ate all the pies?' is irrelevant,...

Bringing the 'house' down: the beleagured bingo industry must re-assess its strategy, writes Dominic Walsh, because the noises emanating from the Treasury are not encouraging.(Insight: Behind the Headlines)
February 1, 2008... It seems cruelly ironic that while bingo clubs up and down the country are battling for survival in the face of the perfect storm, the game of bingo is rapidly becoming the world's fastest growing internet gambling pursuit. Gala Bingo may...

LR Index leisure stockwatch January 2008.(Sharewatch)
February 1, 2008... Another dreadful month for share prices, another tale of woe to tell for investors (unless they've already shifted their portfolios to be heavy on the petrochemicals and energy suppliers), and another month of surprising falls across stocks in...

UK Register of Exercise Professionals.(People on the move)
February 1, 2008... Cliff Collins, registrar at the UK Register of Exercise Professionals, has been seconded by SkillsActive Training to oversee the development of the European Register of Exercise Professionals (EREPS) on behalf of the European Health and Fitness...

DC Leisure.(People on the move)(Brief article)
February 1, 2008... DC Leisure has announced the appointment of Polly Westell to the role of group sports development manager. Westell took up the position at the beginning of January, having previously worked on the sports development team at Windsor and...

Marston.(People on the move)(Brief article)
February 1, 2008... Marston's has announced the appointment of Neil Goulden, chief executive of Gala Coral, as a non-executive director with effect from 31 March. Goulden joined Gala Coral in 2000 before assuming his current role in 2004. He is also currently...

Visit London.(People on the move)
February 1, 2008... Visit London has announced the appointment of Travelodge chief executive, Grant Hearn to its board. Hearn said: "I am very excited about joining what is by far and away the most effective tourism body in the UK. How we position and drive...

Fusion.(People on the move)(Brief article)
February 1, 2008... Kemi Joseph has been appointed finance director for Fusion, the not for profit leisure management company. Chief executive Peter Kay said: "Kemi has a vast amount of experience which is going to be invaluable to Fusion as we grow. In the...

American Leisure Group.(People on the move)(Brief article)
February 1, 2008... American Leisure Group said chairman Sir David Garrard has decided to step down from the post with immediate effect and will be replaced by non executive director David Mace, who will become non-executive chairman of the company. Garrard...