Leisure Report articles from July 2006

Leisure Report archives from July 2006

Fleurets predicts 'steady' rental growth for top leisure properties.
July 1, 2006... Leisure operators with the "best properties in the best locations" can expect to see gradual but "not spectacular" rental growth over the next 12 months, according to the 21st rental survey by Fleurets, the property agents. According to...

Powerleague expands ahead of World Cup fever.
July 1, 2006... Powerleague Group, the AIM-listed commercial 5-a-side football centre operator, announced the expansion of its estate ahead of a boom in football's popularity thanks to the World Cup. The group has opened new centres, at Coventry and in the...

When the cheering stops ... start talking.(Column)
July 1, 2006... As I write this column, England's football team has secured a place in the last 16 of the World Cup, and the landlords of the nation are rubbing their hands in glee, while the bookies begin to cast nervous glances at each other. There is...

PwC says travel companies must adapt to meet consumers' changing 'lifestyle media' needs.(News)
July 1, 2006... Travel businesses can expect challenging times ahead in order to develop business models and processes that support the new consumer-driven era of lifestyle media, according to PricewaterhouseCoopers LLP. In this new environment, consumers...

Fairground makes its first move with Spin Palace deal.(News)
July 1, 2006... Fairground Gaming, the investment group, has acquired online gaming firm Spin Palace as consolidation of the internet gaming sector continues. The Isle of Man-based Fairground was established by Evan Hoff, the entrepreneur, as a cash shell...

PE firms in bidding war for Beacon.(Hermes Private Equity)(Thomas Holdings owner of Beacon Bingo)(Brief article)
July 1, 2006... Hermes Private Equity, Macquarie, the Australian bank, and Barclays Private Equity have all been touted as possible buyers of Thomas Holdings, owner of Beacon Bingo. Hermes has already dipped into the gaming sector recently with its April...

London Astoria sold to Derwent in 23.75m [pounds sterling] deal.(News)
July 1, 2006... The London Astoria, the live music and nightclub venue in Charing Cross Road, has been acquired by Derwent Valley, the listed West End property and company, for 23.75m [pounds sterling] plus costs. Derwent, which bought the site from a...

S&N teams up with Ladbrokes.(News)
July 1, 2006... Scottish & Newcastle has teamed up with Ladbrokes to launch a 50m [pounds sterling] World Cup promotion. The promotion, entitled Football Flutter, sees Ladbrokes offering 50m [pounds sterling] in free bets to customers who buy S&N brands, such...

ADDleisure and PruHealth to offer Fitbug to insurance members.(vontracts between ADDleisure and PruHealth)
July 1, 2006... ADDleisure, the AIM-traded company formed to develop products and services in the health and leisure sectors, has signed a three year agreement, through its 75% owned subsidiary Fitbug, with PruHealth, the leading private medical insurance...

12m [pounds sterling] Esporta club set to open in Norfolk.(News: Health & Fitness)
July 1, 2006... Health and racquets club chain Esporta is set to open its new 12m [pounds sterling] club in Norfolk on 1 July. The club, which Esporta has tagged to become a Key Racquets Academy centre, will offer members a six-court indoor tennis complex...

De Vere unveils plan to develop five new leisure dub sites.(planning of De Vere Group PLC)
July 1, 2006... De Vere Group has announced nationwide deals for its Village Hotel & Leisure Club brand, firmly placing it at the centre of its strategy. Subject to planning, deals secured include Village Farnborough, Elstree, Solihull, Leeds, and...

Relegation will result in 20m [pounds sterling] drop in income for Birmingham City.
July 1, 2006... Birmingham City, relegated from the Premier League at the end of the season, released interim results that serve as a stark reminder of the financial penalties incurred by the drop. Reporting results for the six months to 28 February 2006,...

Villa to raise 7m [pounds sterling] through property sale.(Aston Villa Football Club PLC agreed to sell its Serpentine property to Birmingham Community Sports)(Brief article)
July 1, 2006... Aston Villa has conditionally agreed to sell its Serpentine property, an area of non-core land, for 7.31m [pounds sterling] in cash to Birmingham Community Sports. Currently the club only uses the property for match day car parking. In the...

Esporta and Crown leading the field in battle to buy Club Company.(News: Sport)
July 1, 2006... Golf and country club operator The Club Company is being marketed by owner Park Lane Acquisitions, a vehicle of private-equity group Legal & General Ventures, to a number of interested parties including Esporta and Crown Golf, the leading...

Leisure report LR index: football stockwatch June 2006.
July 1, 2006... As the football World Cup reaches its climax, Southampton fans will be distracted by the ongoing power struggle at their club. Southampton Leisure Holdings, the club's parent company, has scheduled an extraordinary general meeting for 3...

Ladbrokes launches staff share scheme as sports results boost profits in first four months.(News: Betting & Gaming)
July 1, 2006... Ladbrokes has launched a share scheme for all employees with more than one year's service. Some 12,000 staff are set to receive free shares in the company, as a reward for the firm's success, the bookmaker announced in June. The...

PartyGaming founders sell 5% stake.(securities of PartyGaming)(Brief article)
July 1, 2006... The four founders of PartyGaming raised less than expected after selling 200 million shares in the group. Ruth Parasol, Russ DeLeon, Anurag Dikshit and Vikrant Bhargava had planned to raise around 420m [pounds sterling] from the sale of 350...

32Red acquires Sportech's telephone and net gaming arm Bet Direct for 12.5m [pounds sterling].(News: Betting & Gaming)
July 1, 2006... Sportech, the UK gaming operator and owner of Littlewoods, has sold Bet Direct, its telephone and internet betting business, to 32Red for 12.5m [pounds sterling]. The profit before tax on the disposal is expected to exceed 10.5m [pounds...

Inspired makes steady AIM start.(securities of Inspired Gaming)(Brief article)
July 1, 2006... Inspired Gaming, the gaming machine operator, has announced the successful IPO and admission of its issued share capital to trading on AIM. The move by the company comprises of a placing of 60 million ordinary shares at a placing price of...

Sportingbet reports 55% increase in third-quarter pre-tax profits.(News: Betting & Gaming)
July 1, 2006... Sportingbet, the online sports betting and gaming group, reported a 55% increase in pre-tax profit to 21.2m [pounds sterling] for the three months ending 30 April, compared to the same period in 2005. The company also announced the...

O2 teams up with ukbetting as gaming group expands.(News: Betting & Gaming)
July 1, 2006... Online gaming business ukbetting announced that its sports content provider, TEAMtalk Media, has signed an agreement with mobile network operator O2 to a launch 24-hour football chat forum for mobile phone users. 'Football365 Chat', which...

Spencer backs backgammon.(News: Betting & Gaming)(Brief article)
July 1, 2006... Michael Spencer, the tycoon behind the money-broking firm Icap, has put several million pounds into The Money Gaming Corporation, the online backgammon firm, in return for a 30% stake in the business, The Times reported. The Money Gaming...

Super-casino shortlist short on surprises.(Brief article)
July 1, 2006... The shortlist of towns and cities competing to open a regional has been issued by the Casino Advisory Panel. Blackpool and the Millennium Dome are two of eight locations named by the panel. Brent (Wembley), Cardiff, Glasgow,...

Tourism Alliance says the sector 'is not a priority for the government'.(News: Tourism & Attractions)
July 1, 2006... The Tourism Alliance said it is "deeply disappointed that the government has indicated that tourism is not a priority for the Department of Culture Media and Sport". In a recent letter to Tessa Jowell, the secretary of state for culture...

Thomson shops to become net holiday outlets.(planning of Thomson)(Brief article)
July 1, 2006... Holiday tour operator Thomson has said it plans to evolve its high street shops into Internet service points where customers can book holidays online. Unveiling the plan at a press briefing, the company added that staff would be on hand to...

Lastminute.com and O2 to offer mobile booking.(News: Tourism & Attractions)
July 1, 2006... Lastminute.com has teamed up with mobile operator O2 to enable the booking of hotel rooms via iMode phones. iMode, the mobile phone technology, enables users to interact with a wide range of websites as well as download email, on the move....

Holidaybreak plans to carry on camping, as it reports reduced half-year pre-tax loss.(financial report)(Financial report)(Brief article)
July 1, 2006... Holidaybreak, the UK based holiday operator, reported a half-year pre-tax loss of 6.3m [pounds sterling], against a loss of 8.6m [pounds sterling] in the previous year. Revenue for the six months to 31 March increased by 3.9% from 85.3m...

IceSpace concept is a wash out after just 20 days.(IceSpace)(Brief article)
July 1, 2006... IceSpace, the 1.5m [pounds sterling] London tourist attraction, has closed down its operation after just 20 days. The venture--billed as the world's biggest ice structure outside of the Arctic Circle--featured an ice rink and a bar. It is...

Theme park will sex up Trocadero.(News: Tourism & Attractions)
July 1, 2006... London's Trocadero shopping complex is to be the site of Britain's first sex theme park. To be called "The Amora: The Academy of Sex and Relationships", the venue will employ multimedia and latex body parts, as well as erotic art to help...

Profits take a dip as sharks begin to circle around Deep-Sea Leisure.(financial report)(Financial report)
July 1, 2006... Deep-Sea Leisure, which runs two aquariums, Blue Planet in Chester and Deep Sea World in Edinburgh, saw reduced pre-tax profits of 267,000 [pounds sterling] in the six months ended 30 April 2006. The headline figure, which fell from 309,000...

European tourism hits record levels during 2005.(News: Tourism & Attractions)
July 1, 2006... Europe enjoyed a bumper year for tourism in 2005 according to recent figures published by the European Travel Commission. According to its report, entitled European Tourism Insights 2005 and Outlook for 2006, arrivals to Europe in 2005 were...

Edinburgh eclipses London as short break favourite.(Survey)(Brief article)
July 1, 2006... Edinburgh is the nation's favourite short break city, according to budget accommodation website Wotif.com. In a poll of site visitors, the Scottish capital was a UK top-three short break city for 51% of respondents. It was followed by...

UKinbound forecasts decline in visitor numbers.(Survey)(Brief article)
July 1, 2006... The high price of oil and weak US dollar are combining to slow the number of international visitor arrivals to the UK, reports UKinbound. Arrivals were up just 3.3% year-on-year in April, despite the Easter holiday falling during the month,...

PO finds young people scrimp on insurance.(News: Tourism & Attractions)
July 1, 2006... Research from the Post Office has revealed that nearly a quarter of all young people who take a short break aboard do not bother with taking out travel insurance. According to its figures, most 18-24 year olds plan to take a few days off...

Healthy eating is a challenge to the UK market.(Report)
July 1, 2006... The biggest challenge facing the eating out market over the next ten years will be the demand from consumers for healthy but tasty and inviting dishes, according to a new report by Mintel. The report--"Eating Out--Ten Year Trends", says...

Fine Burger eyes growth and looks to get mobile.(growth of Fine Burger)(Brief article)
July 1, 2006... Fine Burger, the upmarket burger chain, is looking to expand its operation. The company currently operates outlets across the capital, in Muswell Hill, Balham, Islington, and Marylebone, and has just opened premises in the O2 Centre,...

Millies rolls out juice bar concept.(licensing deal between Richard O'Sullivan and Millies Cookies)(Brief article)
July 1, 2006... Richard O'Sullivan, the former owner of cakes and biscuits retailer Millies Cookies, has signed a 5m [pounds sterling] licensing deal with Boost Juice Bars, the Australian healthy eating concept, to open a chain of outlets in the UK. ...

Big trouble for McDonald's over 'Bigger Mac' offer.(News: Food & Drink)(Brief article)
July 1, 2006... McDonald's has launched a giant burger, 40% larger than a standard Big Mac, in time for the World Cup Finals. The 'Bigger Big Mac' will be followed by more new products during summer which McDonald's says will give "a twist on existing...

Starbucks sees 23% rise in revenue.(News: Food & Drink)
July 1, 2006... Starbucks reported a 23% rise in net revenue to $613m (325.77m [pounds sterling]) for the four weeks to 28 May, compared to the same period in 2005. Comparable sales at company-operated stores increased by 7% over the same period. Net...

False claims cost leisure sector 13m [pounds sterling] a year.(News: Industry)
July 1, 2006... False insurance claims by bar and pub goers are costing the leisure industry up to 13m [pounds sterling] a year, according to a new survey by Marsh & Co, the specialist bar and club insurer. The study also found that almost 50% of the UK's...

Calls for publication of smoking guidelines as Lords attacks ban.(News: Industry)
July 1, 2006... The Department of Health is reported to have drawn up the regulations for the smoking ban in England and Wales, prompting calls for them to published. Brigid Simmonds, chief executive of Business in Sport and Leisure, said that that the...

Licensing Act not to blame for Britain's 'drinking on the job crisis', study finds.(News: Industry)
July 1, 2006... British drinking culture, not the recently relaxed licensing laws, are to blame for a "crisis" of alcohol consumption during working hours, a new study has concluded. The research was conducted by YouGov, on behalf of Royal and Sun...

Sector fight against staff turnover drags on.(Brief article)
July 1, 2006... Poor staff retention continues to dog the hospitality sector, according to the latest report from the Chartered Institute of Personnel and Development (CIPD). According to the organisation's 2006 Recruitment, Retention, and Turnover...

Leisure firms up use of direct mail marketing.(News: Industry)
July 1, 2006... Leisure and entertainment companies have increased their use of direct mail in their marketing campaigns, figures from Direct Mail Information Service have revealed. More than 20 million direct mail items were sent between October and...

Covent Garden goes on the market.(Brief article)
July 1, 2006... Covent Garden's piazza and market hall have been put up for sale by owners Scottish Widows Investment Partnership and Henderson Global Investors. With an asking price of 350m [pounds sterling]-400m [pounds sterling], the sale will be handled by...

Leisure proposed at Euston station development.
July 1, 2006... Leisure opportunities are proposed as part of a 1bn-plus [pounds sterling] redevelopment of Euston station, in London. The project could range from 100,0000 sq m to 400,000 sq m depending on the eventual height. Chelsfield Partners, British...

Lad's magazine in hotel brand extension.
July 1, 2006... Dennis Publishing, parent company of 'lad's magazine' Maxim, has signed a deal with Concord Wiltshire Partners, the real estate developer, to build the Maxim Hotel and Casino on the Las Vegas Strip. The $1.2bn (637.7m [pounds sterling]) hotel,...

200m [pounds sterling] Ascot stand is a winner on several fronts.
July 1, 2006... The new 200m [pounds sterling] showpiece stand at Ascot racecourse has been finished on time, and on budget, in just 20 months. It boasts nine separate restaurants and 365 hospitality boxes; one for every day of the year.

120m [pounds sterling] multi-sport site planned for Ulster's former Troubles hotspot.
July 1, 2006... Plans have been drawn up to transform Northern Ireland's once notorious Maze prison into a massive multi-sport and leisure complex. Formerly the preserve of paramilitary prisoners, Maze, or Long Kesh as it was also known, was once at the...

E3 to save O2 backers 16m [pounds sterling].(contracts)(Brief article)
July 1, 2006... E3 Consulting, the Dorset-based property taxation specialist firm, has gained another project appointment from Anschutz Entertainment Group (AEG Europe) on its development of The O2 in Greenwich, formerly the Millennium Dome, in a contract...

Old Town seeks leisure operators.(News: Property & Development)
July 1, 2006... Whiteburn Projects, an Edinburgh-based, family-owned development company, is seeking leisure operators to sign up to a blueprint for its 40m [pounds sterling] scheme to transform the Scottish capital's South Bridge/Cowgate area into a 'vibrant...

Cineworld postpones its planned float.(Brief article)
July 1, 2006... Cineworld announced that, due to the current levels of volatility in the stock market, it was postponing its flotation on the London Stock Exchange. Steve Wiener, chief executive of Cineworld Group, said: "We have been very encouraged by...

It's a wrap for Stelios' EasyCinema venture as rival ups the pressure.(Brief article)
July 1, 2006... EasyCinema, the low-cost cinema set up by easyGroup in 2003, has closed its only trading site, in Milton Keynes, due to what it described as the imposition of "totally unrealistic rent" levels. Company founder Stelios Haji-Ioannou claimed...

Odeon UCI relaunches its website offer.(News: Cinema & Entertainments)
July 1, 2006... Odeon Cinemas has launched an expanded and improved website for film fans across the UK, following last year's merger of Odeon and UCI. The site, www.odeon.co.uk, will now carry full film information and ticket booking facilities for the...

Former Soho Clubs & Bars boss buys 10 nightclubs.(News: Cinema & Entertainments)
July 1, 2006... Jeremy Gordeno, the former chief executive of Soho Clubs & Bars, has bought 10 leasehold nightclubs. Gordeno, who has set up a new company called Summit Clubs, has bought five clubs from Candu Entertainment, the Close Brothers Private...

Novus nears 40.(Nevus Leisure has opened its 37th venue)(Brief article)
July 1, 2006... Nevus Leisure, the late-night bar operator formerly known as Urbium, has opened its 37th venue, Verve, in London's West End. The 480-capacity venue, situated in Upper St Martin's Lane, is set across three floors and includes a 175-capacity...

New karaoke restaurant-bar concept set to swing Leicester Square.(Brief article)
July 1, 2006... A new karaoke and restaurant concept is to open in London's West End. The venue, to be called K Box, will incorporate a Chinese restaurant provisionally capable of serving 80 covers, as well as a number of private rooms for hire stocked...

Living in the lap of luxury: David Minton asks if a luxury spa could help regenerate a deprived area as effectively as the government hopes the new super-casino will do.
July 1, 2006... Did you know that a pit village that suffered when the coal industry collapsed has been named the country's top property hotspot? A survey by the Halifax building society found that average house prices in Seaham, Co. Durham, have gone up by...

The continuing consumer challenge: the average consumer is a neurotic, puritanical, health-obsessed eco-warrior who is scared witless despite being better off, and with better prospects than before.(Insight: Consumer Habits)
July 1, 2006... People are becoming more and more complex. They want premium experiences and they want value. They are increasingly demanding and promiscuous. They are fickle and the behaviour they exhibit is often contradictory. Despite evidence that we...

It's not easy being green: Jonathan Endersby on how making properties sustainable aids the planet and the bottom line.(Business Sense: Environmentalism)
July 1, 2006... 'Going green' has traditionally been treated as a niche concern by the travel and tourism industry--the preserve of students, hippies and similar parties unlikely to be contributing significantly to hotel balance sheets any time soon. ...

Picking up good migrations: Julia Onslow-Cole, partner and head of the global immigration practice at CMS Cameron McKenna LLP, casts a critical eye over the changes to the UK's rules for migrant labour.(Legal: Migrant Labour Laws)
July 1, 2006... In March 2006 the Home Office published a paper on changes to the UK immigration system under the government's five-year plan that was announced a year ago. The paper was entitled, "Controlling Our Borders: Making Migration Work For Britain,...

Transfer of undertakings--what you need to know: Silverman Sherliker's Nicholas Lakeland offers his expertise on the TUPE laws.(Transfer of Undertakings Regulations)(Editorial)
July 1, 2006... The editorial team at Leisure Report refer to the Transfer of Undertakings regulations as the "Tofu", because they love a good acronym, but in this case the acronym is uncannily accurate. Tofu has a consistency which is dense and can be bit...

London Clubs calling, and some of it is tree: Dominic Walsh says there may be substance to continuing takeover rumours.(Les Ambassadeurs)
July 1, 2006... Despite all the bid speculation surrounding London Clubs International for the past 12 months, it has been easy to take most of it with a pinch of salt. But the moment the company announced it was in talks to sell Les Ambassadeurs, its plush...

Isle of Capri Casinos has announced that John Brackenbury, currently a UK main board director, has been appointed chairman.(People on the move)
July 1, 2006... Isle of Capri Casinos has announced that John Brackenbury, currently a UK main board director, has been appointed chairman. In addition, Isle of Capri has made an additional senior appointment to its UK team by appointing Chris Brammer as...

Elsewhere in the gaming sector, PartyGaming co-founders Vikrant Bhargava and Anurag Dikshit have stepped down from the board.(PartyGaming)(Brief article)
July 1, 2006... Elsewhere in the gaming sector, PartyGaming co-founders Vikrant Bhargava and Anurag Dikshit have stepped down from the board. Dikshit, group operations director and a 30.4% shareholder, will remain at PartyGaming as head of research and...

Nat le Roux, chief executive of spread betting company IG Group.(People on the move)
July 1, 2006... Nat le Roux, chief executive of spread betting company IG Group, is to be replaced by the company's finance director, Tim Howkins. Le Roux says he wants to pursue his hobbies, such as archaeology, but will continue with some consultancy...

John Jarvis CVO, CBE has been appointed a non-executive director on the board of Ladbrokes.(People on the move)
July 1, 2006... John Jarvis CVO, CBE has been appointed a non-executive director on the board of Ladbrokes, with effect from 1 July. Currently chairman of Jarvis Hotels, he is also non-executive chairman of Sandown Park Racecourse and a member of The...

Leisure & Gaming has unveiled Josh Joshi as its new finance director.(People on the move)
July 1, 2006... Leisure & Gaming has unveiled Josh Joshi as its new finance director, effective immediately. Joshi joins from TeleCity, a pan-European datacentre and managed services business. Prior to this, he was chief financial officer at Storm...

Meanwhile, Simon Willets, development director at Nevus Leisure (formerly Urbium).(Simon Willets left Nevus Leisure )(Brief article)
July 1, 2006... Meanwhile, Simon Willets, development director at Nevus Leisure (formerly Urbium), has left the bar and nightclub business by mutual consent. He was responsible for acquisitions and estate management at the company, which operates the...

Ultimate Leisure, the hotel, bar and club operator.(People on the move)
July 1, 2006... Ultimate Leisure, the hotel, bar and club operator, has appointed Caroline Craik as its new commercial director. The appointment came a day after Craik resigned as commercial director at the Laurel Pub Company. In her new role she will take...

UK tourism promoter VisitBritain announced that Joss Croft has rejoined the group as head of business visits and events from 5 June.(People on the move)
July 1, 2006... UK tourism promoter VisitBritain announced that Joss Croft has rejoined the group as head of business visits and events from 5 June. Croft was manager of VisitBritain's presence in Spain and Portugal. Kenny Boyle, the group's director of...

Arena Leisure.(People on the move)
July 1, 2006... Arena Leisure has appointed Martin McGann as its new non-executive director and chairman of the audit committee. McGann, who will take up his new post on 27 June, is currently finance director of Kandahar Group, a private property company....

Property group Savills has recruited David Bell as associate director.(People on the move)
July 1, 2006... Property group Savills has recruited David Bell as associate director, and permanently appointed graduate Alex Joslin for its leisure team. Bell, previously with Donaldsons', has four years leisure and retail experience, having also worked...

Simon Broackes, co-founder of Gourmet Holdings, the owner and operator of restaurant concepts Richoux, and Bel and the Dragon.(People on the move)
July 1, 2006... Simon Broackes, co-founder of Gourmet Holdings, the owner and operator of restaurant concepts Richoux, and Bel and the Dragon, has resigned from the company's board and will leave the business in due course. Gourmet Holdings said Broackes,...

Glen Tomlinson has resigned as executive chairman of Urban Dining.(People on the move)
July 1, 2006... Glen Tomlinson has resigned as executive chairman of Urban Dining to "pursue other interests".

LR index leisure stockwatch June 2006.(Sharewatch)
July 1, 2006... As the heated debate in the US over internet gaming neared its climax it was a predictably tricky month for shareholders of the online gaming stocks. Market leader PartyGaming shed 20% of its value over the course of June, as fears of a...

Diary dates: June/July.(Diary dates)(Calendar)
July 1, 2006... June Event: Facilities Management Forum Date: 26-27 Location: Lincolnshire, UK Description: Belton Woods Hotel in Lincolnshire will host this business-to-business event. Contact: +44 1920 444202 or +44 1920 444292...