Leisure Report articles from January 2008

Leisure Report archives from January 2008

Cash-rich firms set for 2008.
January 1, 2008... Online gaming firms, traditionally viewed as strongly cash-generative companies, are better placed than many in the leisure sector to forge ahead next year, although increasing economic worries, higher prices and a tightening of consumer...

Halabi planning audacious Esporta buyback.
January 1, 2008... Simon Halabi has launched a scheme to buy back Esporta, which is currently being run by Grant Thornton, the accountancy firm, after its holding companies, Bell I and Bell II, were put into administration in the summer when Societe Generale,...

You're a celebrity ... get out of here!(Inside track)
January 1, 2008... Every year at this time we are bombarded with new fitness DVDs and videos from celebrities, TV presenters, soap stars and reality TV participants. This year there were 70 new 'fitness' titles--everything from hip hop to belly dancing and...

Webis achieves operational profit as pari-mutuel trading stabilises.(News: Breaking news)
January 1, 2008... Webis Holdings, the global online gaming group formerly known as Betinternet, said trading for the first six months of its financial year was in line with expectations, with profit being achieved at an operational level. Within the last...

Preston develops Deepdale ground.(News: Breaking news)
January 1, 2008... Listed football club Preston North End has confirmed it has agreed the construction contract, funding arrangements and tenant lease for the development of a new East Stand at its Deepdale Football Stadium. The deal with MJ Fellows will see...

Coffee Republic's Cineworld deal.(News: Breaking news)
January 1, 2008... Coffee Republic has reached an agreement with Cineworld UK to roll out its 'Coffee Republic Served Here' concept to all 73 Cineworld sites in the UK. The rollout of these concessions will begin in early 2008. Steven Bartlett, Coffee...

Playgolf in deal to tee up working capital.(News: Breaking news)(Brief article)
January 1, 2008... Playgolf, the operator and developer of advanced multi-sport facilities in the UK, announced a placing of 10,173,261 new Ordinary Shares of 0.2p each at 9.75p per share, to raise approximately 1m [pounds sterling]. The placing represents a...

PartyGaming remains bullish.(News: Breaking news)(Brief article)
January 1, 2008... PartyGaming, the listed online gaming company, said its financial performance in the fourth quarter to date has been in line with management's expectations and it remains confident about prospects for the current year. The firm also said...

Deep Sea Leisure's deep pockets.(News: Breaking news)(Aspro Ocio Group )(Brief article)
January 1, 2008... Deep Sea Leisure said it has entered into two new loan agreements with Aspro Ocio Group (Aspro), a fellow group company. The first of these loans, entered into in March 2007, was for 2m [pounds sterling]. Interest has been charged at a rate of...

London membership fees are rising below the rate of inflation.(News: Health & Fitness)
January 1, 2008... New analysis from the Leisure Database Company reveals prices for sporting and leisure facilities across the 33 London Boroughs last year saw a 3.9% increase, below the rate of inflation at 4.4% but above the previous year's increase of 3.6%....

Healthcare giant buys Cannons.(News: Health & Fitness)
January 1, 2008... Nuffield Hospitals, one of Britain's biggest private healthcare operators, has acquired Cannons, the chain of health and fitness clubs owned by Royal Bank of Scotland (RBS) and PPM Capital, for an estimated 170m [pounds sterling]. The...

Mooted float could value Virgin Active at about 1bn [pounds sterling].(News: Health & Fitness)
January 1, 2008... Goldman Sachs, the investment bank, has been appointed to lead the planned float of Virgin Active, which could value it at around 1bn [pounds sterling]. Virgin Group, which has a 70% stake in the 170-strong gym chain, has completed a beauty...

EC clears HBoS/L&R deal to take over David Lloyd gyms.(News: Health & Fitness)
January 1, 2008... The European Commission has cleared HBoS and London & Regional Investment Holdings'(L&R) proposed 925m [pounds sterling] joint acquisition of Versailles Holdco--the holding company of the David Lloyd Leisure companies. The transaction was...

Sport England to withdraw its fitness funding.(News: Sport)
January 1, 2008... Government funding through Sport England is to be pulled for all but pure sport as the organisation undergoes further restructuring. The chair of Sport England, Derek Mapp, resigned following Culture Secretary James Purnell's announcement...

Powerleague nets an improvement.(News: Sport)(Brief article)
January 1, 2008... Powerleague, the UK operator of five-a-side football venues, reported that sales and profits continued to grow in the first 21 weeks of its financial year. The company said that its cash position remained strong, and that it expected the...

Saints will sell players if backer is not found.(News: Sport)(Southampton Leisure Holdings)
January 1, 2008... Southampton Leisure Holdings, parent company of Southampton Football Club, said that unless it could secure investment or find a buyer for the company, it would be forced to sell players to raise capital for the remainder of the working year....

Promotion helps end Birmingham's financial blues.(News: Sport)(Brief article)
January 1, 2008... Takeover target Birmingham City said it was well placed to benefit from gaining promotion back to the Premiership at its first attempt. However, last year's relegation weighed on the results. Reporting for the year to 31 August 2007, the...

New indoor snow centres planned.(News: Sport)(Chill Factor)(Brief article)
January 1, 2008... Chill Factor, Britain's fifth indoor snow centre, opened last month in the Trafford Centre west of Manchester. It hopes to attract more than 2.5m visitors in its first year and includes a range of cafes and shops as well as the indoor...

L&G opens Betshop Italia.(Leisure & Gaming )(Brief article)
January 1, 2008... Leisure & Gaming (L&G) announced its subsidiary Betshop Italia has opened the first of its proposed 59 betting shops in Italy. The company said the stores would operate under new "corner" licences awarded this year, which allow for a greater...

Johnson to let dogs out?(Luke Johnson)(Brief article)
January 1, 2008... Channel 4 chairman Luke Johnson has reportedly called in advisers after receiving approaches for his Greyhound Racing Association, which owns six tracks including Wimbledon, Portsmouth and Oxford. He paid 50m [pounds sterling] for GILA in March...

GVC beats target.
January 1, 2008... Gaming VC Holdings said current trading is ahead of expectations, reflecting additional sportsbook revenue since the launch of its Maltese operation in August. The European online gaming provider said it is confident the business will continue...

Newbury faces showdown.(Guinness Peat Group PLC)(Brief article)
January 1, 2008... Newbury Racecourse is the subject of a hostile bid from its biggest shareholder. GPG Acquisitions, which has a 20.7% stake in Newbury, posted a 33.5m [pounds sterling] offer directly to shareholders, equivalent to 11 [pounds sterling] a share....

Betfred shelves 600m [pounds sterling] float.
January 1, 2008... Betfred, Britain's biggest independent bookie, has shelved plans for a 600m [pounds sterling] flotation because of "turbulent market conditions".

Rank cancels dividend over uncertain outlook.(News: Betting & Gaming)
January 1, 2008... Rank Group has scrapped its final dividend, due to the effects of the smoking ban, recent restrictive changes to gaming regulations and a weakening in consumer confidence, which have resulted in an uncertain outlook. The company, which has...

Probability to tap iPhone market.(News: Betting & Gaming)
January 1, 2008... Probability, the quoted mobile phone gambling specialist, has become the first company to demonstrate a gambling service running on an Apple iPhone. The company has developed version of Blackjack, the first casino game to have been built and...

Sportingbet reports robust Q1 trading.(News: Betting & Gaming)(Brief article)
January 1, 2008... Sportingbet reported a rise in its first quarter pre-tax profit from 1.1m [pounds sterling] last year to 1.5m [pounds sterling]. The company said it had experienced a "robust" performance during the three months to 31 October, with operating...

Playtech pushes further into Asia with new deal.(News: Betting & Gaming)
January 1, 2008... Playtech has announced it has signed a licence contract with "one of the largest Asia-facing online gaming operators". For reasons of confidentiality the licensee could not be named but it has "a strong and diversified presence in the...

Vue on board as Europe reaches digital cinema 'tipping point'.(News: Cinema & Entertainment)
January 1, 2008... Vue, the UK cinema chain, is set to agree a multi-million pound deal to switch to modern digital technology, according to reports. A funding deal is likely to be signed by next summer but it could take up to five years to have the system...

Credit crunch strikes Georgica.(News: Cinema & Entertainment)(Brief article)
January 1, 2008... UK tenpin and pool operator Georgica has announced that discussions with potential takeover bidders have come to an end, without an agreement. Georgica's announced on 30 July 2007 that it had been approached by a number of parties...

Advert fears hit Cineworld.(News: Cinema & Entertainment)
January 1, 2008... Cineworld Group saw its share price drop sharply after the company said it has been approached by Carlton Screen Advertising (CSA), owned by ITV, to amend the terms of their contract. The UK cinema chain operator said it has agreed in...

Ultimate at a Premium.
January 1, 2008... Ultimate Leisure, the pub, bar and restaurant group led by Mark Jones, has changed its name to Premium Bars and Restaurants with immediate effect. The company said the name change, which received shareholder approval late last month, would...

Nightclubs plan floats.
January 1, 2008... Yorkshire-based nightclub operator Brook Leisure is planning an initial public offering on Aim. Rival Nexum Leisure, owner of the Zanzibar chain, is also thought to be considering an IPO. Brook, which already owns Mustang Sally's and Quest, is...

All Star eyes third site.(All Star Leisure)(Brief article)
January 1, 2008... All Star Leisure, the ten-pin bowling operator, will open its third outlet in London early next year in Brick Lane. The opening at the Truman Brewery is part of a 5m [pounds sterling] investment by the company, which included the opening of its...

MAMA buys into Nettwerk.(MAMA Group acquires Nettwerk Music Group)(Brief article)
January 1, 2008... MAMA Group has acquired 20% stake in both the management and the record label businesses of the Nettwerk Music Group. The AIM-listed company also purchased a stake equal to 20% of the interests of the Nettwerk Partners in its publishing...

Growing clamour for Brown to reverse cut in tourism budget.(News: Tourism & Attractions)
January 1, 2008... Leading figures in the UK leisure industry have written an open letter to Gordon Brown stating their disappointment over the government's current tourism policy and seeking a reversal in the 18% cut in the tourism budget. The letter,...

Spain planning 12bn [pounds sterling] Vegas-style leisure complex.(News: Tourism & Attractions)(Gran Escala or Large Scale)(Brief article)
January 1, 2008... A vast 12.2bn [pounds sterling] Las Vegas-style casino and theme park complex, including five hotels, is to be built in the Spanish desert near Zaragoza. Details of the project, tentatively named Gran Escala or Large Scale, will be formally...

Center Parcs deals with SSP and Starbucks.(News: Tourism & Attractions)
January 1, 2008... Center Parcs has signed agreements with Select Service Partners (SSP) and Starbucks, which will see the two companies operate outlets across its four holiday villages. Under the terms of the agreement, Starbucks will open 10 units,...

Tourism minister pledges to support bids for business events.(News: Tourism & Attractions)
January 1, 2008... Margaret Hodge, the minister of tourism, has pledged her support for international event bids, as a key driver of the UK tourism industry. Hodge told industry leaders from the Business Tourism Partnership (BTP) that she would write to...

Festive spend to rise but overall F&B outlook remains uncertain.(News: Food & drinks)
January 1, 2008... Britons are set to spend 18% more than last year in pubs, restaurants and nightclubs over the festive season, according to new research, but confidence in the sector suffered a body blow last month in the wake of profit warnings from two...

McDonald's sees 10.8% sales rise.(News: Food & drinks)(Financial report)
January 1, 2008... McDonald's, the US fast-food giant, has reported a 10.8% rise in comparable sales across its European business in November, driven by France and the UK. The company said that its strong performance in the region was due to a combination of...

Starbucks to push on in UK.(News: Food & drinks)
January 1, 2008... Starbucks said that it plans to open 100 new stores in the UK and Ireland next year, as it shifts it focus to the British market in the face of growing pressure on margins and footfall in the firm's US home market. Talking to The Times,...

Costa targets Cossack market.(News: Food & drinks)(Brief article)
January 1, 2008... Whitbread has announced that it will open in excess of 200 Costa Coffee outlets in Russia over the next five years as part of a joint venture with OAO Rosinter Restaurants. Openings in the first year will concentrate on Moscow and St...

Gaucho in 125m [pounds sterling] deal.(Intermediate Capital Group acquires Gaucho Grill)(Brief article)
January 1, 2008... Intermediate Capital Group (ICG) has backed a 125m [pounds sterling] management buyout of Gaucho Grill, the Argentine steakhouse chain led by Zeev Godik. The private-equity firm has acquired the majority of the 45% stake previously held by...

No S&M for Laurel.(Sam & Maxies)(Brief article)
January 1, 2008... Laurel Pub Company, the bar group owned by R20, has killed off Sam & Maxies, the American bar, grill and smokehouse concept. The three-strong format was a fledgling format that it acquired as part of 124m [pounds sterling] purchase of La Tasca...

Capricorn eyes Clapham.
January 1, 2008... Capricorn Ventures International has taken a significant stake in Clapham House, the restaurant chain group. The company, which already has a stake in Nando's, took advantage of a dip in the share price to build an 14% holding. Some in the City...

Pret sale not ready.
January 1, 2008... The 450m [pounds sterling] auction for Pret A Manger is on the verge of collapse, according to reports. Lion Capital is the latest in a number of private equity firms reported to have to quit the bidding. There are fears that a recession in...

A November night to remember.(Brief article)
January 1, 2008... The great and the good of the UK leisure scene came together at the Leisure Report Awards in November, where Blackstone-owned companies emerged at the top of this year's medal table [ILLUSTRATION OMITTED] Clockwide from top: The...

Club Co destination for Lichfield.(News: Property & Development)(Club Company's)
January 1, 2008... More new health and fitness facilities opened last month, with the launch of The Club Company's 4.7m [pounds sterling] Lichfield Golf & Country Club. Due to open to the public on 17 December, the 30,000sq ft development in Lichfield,...

Property prices driving conference market.(News: Property & Development)(Conference news)
January 1, 2008... Ever-increasing property prices are keeping the UK conference market buoyant, according to research from Savills, the property specialists. The group reported that the 15bn [pounds sterling] UK meetings industry was one of the fastest...

Scots government mulls Trump plan.(News: Property & Development)(Donald Trump)(Brief article)
January 1, 2008... The Scottish government has announced it is intervening in the planning row over Donald Trump's plans to build a 1bn [pounds sterling] golf resort in Aberdeenshire. The Scottish Executive said it was calling in Trump's application because...

Plans afoot at Thorpe Park.(News: Property & Development)(Brief article)
January 1, 2008... An application for full planning permission for a new rollercoaster in 2009 has been submitted to Runnymede Borough Council, in line with Thorpe Park's development plan. German manufacturer Gerstlauer has been commissioned to build a...

Aurora planning 80m [pounds sterling] luxury complex.(News: Property & Development)(Brief article)
January 1, 2008... Aurora, the hotel company led by chief executive Steven McLeod, has applied for planning approval to develop a 80m [pounds sterling] hotel and spa village on the site of its Glenbervie Hotel in Larbert, Scotland. The company, which also...

New tenancy deals for Scottish Xscape.(News: Property & Development)(Brief article)
January 1, 2008... X-Leisure, advised by joint-agents Savills and Briant Champion Long, has let units at Xscape Braehead, in Renfrewshire, Scotland, to new tenants Fun Station and JD Wetherspoon, in the same month that it also opened its new 14-screen Odeon...

CGT changes lead businesses to alter strategies.(News: Industry)
January 1, 2008... The government's decision to abolish capital gains tax taper relief has led up to 43% of small and medium sized businesses to change their investment plans, according to a recent survey by the CBI (Confederation of British Industry). The...

More firms fear impact of credit crunch.(News: Industry)(Brief article)
January 1, 2008... Fears that the current credit squeeze will affect more businesses than initially thought appeared to be borne out as it emerged that, despite last month's research which showed an apparent robustness in UK industry, confidence was starting to...

Government unveils plans to cut licensing red tape.(News: Industry)(Brief article)
January 1, 2008... The government has set out proposals to cut the amount of red tape for licensed premises when amending or renewing licenses. DCMS said that venues would not need to amend a licence or acquire a new one, if they are "only making a slight...

Over-65 spend to reach 64bn [pounds sterling].(News: Industry)(Brief article)
January 1, 2008... Older consumers are set to significantly increase their average total spend over the next 10 years, with people over 65 due to become the fastest growing age segment, according to new research. A study by Verdict Research Consulting, part...

What does my brand stand for? Ray Algar asks 'What does my business stand for?'--a question that could be the key to understanding the difference between success and failure.(Insight)
January 1, 2008... [ILLUSTRATION OMITTED] As 2007 draws to a close, just over 16,000 UK companies will not be planning a Christmas party this year. Instead, an insolvency practitioner will be surgically extracting every pound of value for beleaguered...

The redistribution of health: 2007 could prove to have been a critical year for the UK fitness sector, says David Minton, as the link between fitness and health was forged irrevocably.(Insight: Opinion)
January 1, 2008... [ILLUSTRATION OMITTED] Good news in 2007 for the two words: fitness, and health. For the first time they have become inseparable and politicians, private health care, primary care trusts, industry observers, city financiers and operators...

Into the future: 2018 is only 524 weeks away so companies need to prepare by understanding trends that will shape their customers' behaviour, says Lars Thomsen.(Insight: Future trends)
January 1, 2008... [ILLUSTRATION OMITTED] When people think about trends, most of them actually think of fashion, music or electronic gadgets, announced by clever marketing campaigns as "the latest trend" or "trendy must-haves". Even though, at this point in...

LR Index leisure stockwatch December 2007.(Sharewatch)
January 1, 2008... December normally sees a gradual reduction in the volume of share trading as investors shore up their positions ahead of the festive break, and traders enjoy increasingly long lunches. As a result, share price movements are often skewed and not...

McDonald.(People on the move)(Peter J. Bensen)(Brief article)
January 1, 2008... McDonald's has announced the appointment of Peter J. Bensen, currently senior vice president and corporate controller, as its new executive vice president and chief financial officer. Bensen, who will take up his new role on 1 January, will...

Crescent Hydropolis Resorts.(People on the move)
January 1, 2008... Chief executive Alfred Wuttke and non-executive director Larry J. Woolf are to resign from Crescent Hydropolis Resorts, which develops luxury underwater resort hotels. The resignations were accepted at the annual meeting on 12 December.

Lloyds TSB Corporate Markets.(People on the move)(Duncan Bailey )(Brief article)
January 1, 2008... Lloyds TSB Corporate Markets has appointed Duncan Bailey as managing director and head of its hospitality team. Bailey, who has 25 years' experience in corporate and investment banking, most recently worked for WestLB managing its consumer,...

King Sturge and Humberts Leisure jointly announced that, with effect from 3 December, part of the London-based element of the Humberts' Leisure Consulting group will join King Sturge LLP.(People on the move)
January 1, 2008... King Sturge and Humberts Leisure jointly announced that, with effect from 3 December, part of the London-based element of the Humberts' Leisure Consulting group will join King Sturge LLP. The team of nine is headed by Peter Gee who will join...

Probability, the mobile phone gambling specialist, announced that Tim Jones resigned on 28 November as a non-executive director following his appointment as chief executive of the Personal Accounts Delivery Authority.(People on the move)
January 1, 2008... Probability, the mobile phone gambling specialist, announced that Tim Jones resigned on 28 November as a non-executive director following his appointment as chief executive of the Personal Accounts Delivery Authority, the body which has been...

The Club Company.(People on the move)(Rob Davies)(Brief article)
January 1, 2008... The Club Company has made a range of managerial appointments from within its existing team. Rob Davies, previously general manager at The Club at Mapledurham in Berkshire, has taken up the role of GM at the larger Castle Royle Golf & Country....

The Rank Group.(People on the move)
January 1, 2008... On 31 December 2007, Brendan O'Neill, a non-executive director of The Rank Group, will be leaving the Rank board having completed three years of service in the role. The board said it thanks him for his service and wishes him well.

Diary dates: January.(Appointments)(Calendar)
January 1, 2008... January Event: Tourism Society- Prospects for 2008 Date: 10 Location: Sofitel St James Hotel, London, UK Description: What are the prospects for Tourism in 2008?... in light of the credit crunch, the high value of the pound,...