Leisure Report articles from March 2004

Leisure Report archives from March 2004

Cinema consolidation continues apace.
March 1, 2004... Consolidation of the cinema industry is hotting up with news of bids for two of the largest chains in the United Kingdom. Guy Hands, the founder of Terra Firma Capital Partners and the former head of principal finance for Nomura, is the...

Merlin plans expansion after secondary buyout.
March 1, 2004... Merlin Entertainments Group is considering acquiring a fourth brand to add to its tourist attractions portfolio after completing a 72.5m [pounds sterling] secondary management buyout, backed by Hermes Private Equity. Merlin, which owns the...

Fitness membership tax breaks would be more effective than 'fat VAT'.(Inside track)
March 1, 2004... Isn't it great to see that the government is so concerned with our health at the moment? If it is not trying to stop us smoking, with talk of introducing bans in public places, it is trying to prevent us from drinking too much alcohol by...

Concern mounts over casinos planning policy.(News)
March 1, 2004... Plans for the development of resort casinos in the United Kingdom could be affected by the emerging views of the Office of the Deputy Prime Minister. Recent press reports indicated that the ODPM, which is responsible for planning policy,...

Energie fitness franchise roll out gets underway.(News)(Brief Article)
March 1, 2004... The first external franchise in a planned global fitness club chain has opened in Wembley, north London. Ron Goddard, the former managing director of Elite Home Fitness and Lianne Rich, former group account manager of Precor, the fitness...

Sales memorandum 'imminent' for Premier Lodge.(News)(Brief Article)
March 1, 2004... Spirit Group is believed to have appointed Merrill Lynch and Bear Stearns to sell the Premier Lodge chain of budget hotels for about 600m [pounds sterling]. A sales memorandum is expected to be sent to potential bidders for the 140-strong...

'Fat tax' proposed for junk food.(News)(Brief Article)
March 1, 2004... The Prime Minister's Strategy Unit has floated the idea of placing a "fat tax" on junk food in an attempt to cut obesity. According to newspaper reports, the unit raised the prospect of extra duty or VAT being imposed on some of the...

Float plans progress for Wagamama.(News)(Deloitte Corporate Finance)(Brief Article)
March 1, 2004... Wagamama, the noodle bar firm, is reported to have appointed Deloitte Corporate Finance to advise the company on a possible 50m [pounds sterling] flotation. Ian Neill, Wagamama's chief executive, told The Times that he was hoping to pursue...

Esporta raises further funds for expansion.(Health & fitness news)(Brief Article)
March 1, 2004... Esporta Group, the health club firm owned by Duke Street Capital, the private equity firm, raised 155m [pounds sterling] of new debt facilities to help fund the growth of its racquets club portfolio. The new facilities were arranged by...

Ex-easyJet man enters fitness industry.(Health & fitness news)(Brief Article)
March 1, 2004... Jonathan Davies, the former operations business manager of easyJet, the low cost airline, is planning a chain of budget fitness clubs. Davies has just opened The Training Room, his first club, at the former Topnotch Health Club in...

Peak clubs attract interest from potential buyers.(Health & fitness news)(Brief Article)
March 1, 2004... BDO Stoy Hayward, the administrator for Peak Fitness Group, the health club operator, has reported a "significant" level of interest from potential purchasers of the 11 sites still operating. Tony Supperstone, the administrator, said offers...

Soho Gyms in deal to buy Birmingham site.(Health & fitness news)(Brief Article)
March 1, 2004... Soho Gyms, the central London health club operator, is close to acquiring it first site outside London. The firm is in negotiations to buy the Topnotch Health Club in Birmingham, as well as a site for a new-build club inside the capital,...

56m [pounds sterling] management buyout "best offer" for Clubhaus.(Health, fitness & sport news)
March 1, 2004... A 56m [pounds sterling] management buyout by Charles Parker, Clubhaus's managing director and founder, backed by a private equity firm, is believed to be the best offer on the table for the troubled country club operator. Legal & General...

London Olympics 'must learn from Wembley errors'.(Health, fitness & sport news)(Brief Article)
March 1, 2004... The organisers of London's bid to Host the Olympics must learn from Wembley errors' The organisers of London's bid to host the Olympics must learn from the mistakes that almost saw the demise of the project to rebuild Wembley stadium, an...

Spa Association to relaunch.(Health, fitness & sport news)(Brief Article)
March 1, 2004... The British Spa Federation will be relaunched as Spa Business Association from 1 April. Full details of the revamped organisation will be unveiled at Professional Beauty 2004 & International Spa Convention being held at Olympia, London...

LA Fitness speeds up openings.(Health, fitness & sport news)(Brief Article)
March 1, 2004... LA Fitness said it intends to speed up its club opening programme, funding most new openings from cash flow. In a trading statement, the company said the positive trading performance reported at its AGM in November had continued, and...

QMH clubs could change hands.(Health, fitness & sport news)(Queens Moat Houses)(Brief Article)
March 1, 2004... Club Moativation, the fitness club brand of Queens Moat Houses, could soon get a new owner, if a 350m [pounds sterling] bid for the hotel firm is successful. David and Simon Reuben, the property tycoon brothers, are making an offer for the...

Transfer own goals net 16.5m [pounds sterling] loss for Villa.(Sport news)
March 1, 2004... The lack of buoyancy in the football transfer market, coupled with some particularly poor signings by former manager John Gregory hit Aston Villa in the wallet, according to the club's interim results. Despite a small increase in turnover...

Glazer admits offer possible for Manchester United.(Sport news)(Malcolm Glazer)(Brief Article)
March 1, 2004... Malcolm Glazer, the American billionaire, was forced by The Takeover Panel to confirm he may make an offer for Manchester United. Shares in the Premiership club soared to a three-and-a-half-year high of 279.5p on 13 February after...

Dunfermline 'safe' from SIG problems.(Sport news)(Stadia Investment Group)(Brief Article)
March 1, 2004... Stadia Investment Group, the football investment company, said its decision to put two of its subsidiaries into receivership would not threaten the future of Dunfermline Athletic at the East End Park ground, which SIG owns. Gavin Marston...

attheraces pulls up RCA media deal.(Sport news)(Racecourse Association)(Brief Article)
March 1, 2004... The 307m [pounds sterling], ten-year contract between the Racecourse Association and at the races, the media consortium, was terminated "after talks to restructure the deal broke down. BSkyB, Channel 4 and Arena Leisure, the companies...

Bridge sale helps Southampton profit.(Sport news)(Wayne Bridge)(Southampton Leisure)(Brief Article)
March 1, 2004... The sale of defender Wayne Bridge to Chelsea for 7m [pounds sterling] helped Southampton Leisure turn a pretax profit of 1.9m [pounds sterling] for the six months to 30 November 2003, reversing a loss of 3.8m [pounds sterling] last time. ...

Coral Eurobet undergoes 830m [pounds sterling] refinancing, appoints chair.(Betting & gaming news)(Brief Article)
March 1, 2004... Coral Eurobet, the third largest operator of licensed betting offices in the United Kingdom, is to undergo an 830m [pounds sterling] refinancing and has confirmed the appointment of a new chairman. Under the refinancing, Charterhouse...

DCMS unveils further clauses of Gambling Bill.(Betting & gaming news)(Department for Culture, Media and Sport)(Brief Article)
March 1, 2004... The Department for Culture, Media and Sport published further clauses of the Draft Gambling Bill, relating to a revised offence of cheating, amusement-with-prizes machines in pubs and gambling in clubs. The new clauses propose broadly...

Blue Square unveils details of first high street venture.(Betting & gaming news)(Brief Article)
March 1, 2004... Blue Square, the remote betting business owned by The Rank Group, has revealed details of its plans to develop bricks and mortar outlets. Construction is underway of the first Blue Square high-tech betting shop, which will open adjacent to...

LGA calls for banning powers.(Betting & gaming news)(Local Government Association)(Brief Article)
March 1, 2004... Councils should have the power to issue blanket bans on gambling establishments within their boundaries, according to the Local Government Association. Giving evidence to the Joint Scrutiny Committee examining the Draft Gambling Bill, the...

Harrah's makes two UK debuts.(Betting & gaming news)(Brief Article)
March 1, 2004... Harrah's Entertainment, the casino operator from the United States, has launched the first subscription-based online gaming site, also its first venture specifically targeting the gambler in the United Kingdom. LuckyMe offers a range of...

MGM eyes racino opportunities from 270m [pounds sterling] Wembley deal.(Betting & gaming news)
March 1, 2004... Speculation is mounting over MGM Mirage's intentions for the six greyhound tracks in the United Kingdom that the American casino firm is set to acquire under its 270m [pounds sterling] deal to buy Wembley. The board of Wembley agreed to...

Greyhound courses call for more FOBTs at stadia.(Betting & gaming news)(Brief Article)
March 1, 2004... Limiting the number of fixed odds betting terminals at greyhound stadia to the four recently agreed as the maximum for licensed betting offices would be "silly", Lord Lipsey, the chairman of the British Greyhound Racing Board told the Joint...

Gaming Corp announces alliance.(Betting & gaming news)
March 1, 2004... Gaming Corporation, the remote gambling operator, has entered a global strategic alliance that will give it exposure to customers of the world's largest trade exchange. Under the deal with Bartercard International, Gaming Corp, operator of...

GICT changes name to RIGT.(Betting & gaming news)(Gambling Industry Charitable Trust)(Responsibility in Gambling Trust)(Brief Article)
March 1, 2004... The Gambling Industry Charitable Trust has relaunched as the Responsibility in Gambling Trust. The new name is part of the industry-banded Trust's drive to ensure its independence. It comes after recent criticism that its moniker made it...

Remote operations could contribute 50m [pounds sterling].(Betting & gaming news)(Brief Article)
March 1, 2004... The remote gambling industry could generate an extra 50m [pounds sterling] for the economy if the proposed new gambling laws are framed the right way. Representatives from the sector told the Joint Scrutiny Committee examining the Draft...

Resorts world ups LCI stake.(Betting & gaming news)(Brief Article)
March 1, 2004... Another subsidiary of Genting Berhard Group, owner of Resorts World, the South-East Asian gaming group, bought 5 million shares in London Clubs International, upping Genting's stake to 15.2%. Genting's Palomino subsidiary bought the 3.96%...

BACTA hunts for new head after Jarrold resigns.(Betting & gaming news)(British Amusements and Catering Trades Association)(Brief Article)
March 1, 2004... BACTA, the association representing the amusement machine industry, is looking for a new chief executive after the resignation of Phil Jarrold. Jarrold, who has held the post for 20 months, is expected to leave at the end of March.

Bowling International plans tenpin chain.(Cinema & entertainment news)(Brief Article)
March 1, 2004... Bowling International, the distributor of Brunswick equipment in 60 countries, has entered tenpin centre operations with the purchase of AMF Bowling's 28-lane site at The Forum, Coventry. The acquisition, for an undisclosed amount,...

Vue unveils first new-build multiplex plans.(Cinema & entertainment news)(Brief Article)
March 1, 2004... Vue Entertainment will open its first new multiplexes under the Vue brand next year. The company recently started a multi-million pound roll out of the new branding across the 36 Warner Village Cinemas that it acquired last year for 250m...

easybooking for independent screens.(Cinema & entertainment news)(Brief Article)
March 1, 2004... easyCinema, Stelios Haji-Ioan-nou's low-price cinema brand, is inviting independent cinema operators to sell seats online via its website. Local cinema operators and owners are being asked to register their interest at www.easyCinema.com,...

McClusky's owner in receivership.(Cinema & entertainment news)(Springwood)(Brief Article)
March 1, 2004... Springwood, owner of the McClusky's, Zanzibar and Cobarna bar chains, has been put into administrative receivership. Springwood, which runs about 20 units, recently agreed to extend its short-term banking facilities, originally in place to...

Cine-UK announces trio of openings.(Cinema & entertainment news)(Brief Article)
March 1, 2004... Cine-UK, owner of the 34 multiplexes under the Cineworld brand, has confirmed opening dates for three new sites this year. The firm will open a 14-screen site in Wandsworth, south London on 14 May, followed by a nine-screen multiplex in...

Question mark hangs over Disney theme parks ownership.(Tourism & attractions news)
March 1, 2004... Speculation is mounting over the future ownership of Walt Disney Company's theme parks, following the failed $66bn hostile bid for the firm by Comcast, the American cable television firm. The Disney board unanimously supported its chairman...

Deep-Sea plans further investment.(Tourism & attractions news)(Deepsea Leisure PLC)(Brief Article)
March 1, 2004... Deep-Sea Leisure is planning to invest in further major attractions at its two aquaria and is at the "mid point" in discussions to acquire another operation. The company plans to spend about 250,000 [pounds sterling] on a sea lion show...

Industry expects growth in 2004, reports first confidence monitor.(Tourism & attractions news)(Brief Article)
March 1, 2004... About half of accommodation, attractions and transport and tour operators in the United Kingdom expect the first quarter of 2004 to be busier than the same period last year, according to the first Business Confidence Monitor from VisitBritain....

West Pier scheme cast into doubt by HLF.(Property & development news)(Heritage Lottery Fund )(Brief Article)
March 1, 2004... Plans for the 34m [pounds sterling] redevelopment of Brighton's famous West Pier have been thrown into jeopardy after the Heritage Lottery Fund decided to withdraw its in-principle 14.2m [pounds sterling] funding for the scheme. The HLF...

Blackpool council seeks masterplan leader.(Property & development news)(Blackpool Borough Council)(Regeneration Delivery Company)(Brief Article)
March 1, 2004... Blackpool Borough Council is looking for a chairman for its proposed Regeneration Delivery Company. The Lancashire resort wants an individual to lead the new organisation, which is being formed to deliver Blackpool's masterplan. The...

Bournemouth chalet park for sale.(Property & development news)(Lone Pine Lodge & Chalet Holiday Park )(Brief Article)
March 1, 2004... A holiday park near Bournemouth with potential for expansion is on the market with a price tag of 950,000 [pounds sterling]. Lone Pine Lodge & Chalet Holiday Park comprises 11 timber chalets, manager's chalet, heated swimming pool,...

Hotel talks begin for Liverpool waterfront site.(Property & development news)(Brief Article)
March 1, 2004... Liverpool Vision, the urban regeneration company behind the regeneration of the city's Kings Dock area is negotiating with Hilton Group and other hotel firms about including a luxury hotel within the scheme. The 100m [pounds sterling],...

Oldham FC plans redevelopment.(Property & development news)(Oldham Athletic Football Club )(Brief Article)
March 1, 2004... The new owners of Oldham Athletic Football Club are considering a redevelopment of the grounds surrounding Boundary Park as a hotel and conference facility. Simon Blitz, Simon Corney and Danny Gazal, the telecommunications and real estate...

All-weather track proposal clears planning hurdle.(Property & development news)(Brief Article)
March 1, 2004... The prospect of an all-weather racetrack at Newmarket came under starters orders, after Forest Heath District Council granted planning consent for an artificial surface at the home of racing. The development of the all-weather surface,...

PizzaExpress duo invited to reinvest.(Eating & drinking news)
March 1, 2004... TDR Capital and Capricorn Ventures International, the private equity firms that look to have acquired Ask Central to add to PizzaExpress, have asked Hugh Osmond and David Page, the entrepreneurs who masterminded the rise of PizzaExpress in the...

Ivell joins board of Restaurant Group.(Eating & drinking news)(Brief Article)
March 1, 2004... Bob Ivell, former chairman and managing director of S&N Retail, until its sale last year to Spirit for 2.51bn [pounds sterling], is to join the board of The Restaurant Group, the owner of the Frankie & Benny's and Garfunkel's chains. ...

Caffe Nero close to self-funding.(Eating & drinking news)(Caffe Nero Group PLC)(Brief Article)
March 1, 2004... Caffe Nero, the Italian-style coffee chain, said it is less than three months away from being able to serf-fund its continuing growth, after a pre-tax profits rise of more than 100% for the six months to 30 November. The company is now...

McDonald's on the rise thanks to healthier menus.(Eating & drinking news)(Brief Article)
March 1, 2004... McDonald's said that its recent emphasis on the healthier aspects of its menu were having a positive effect, as it reported a profit of $126m (70m [pounds sterling]) in the last quarter of 2003, against a $344m loss in the same period a year...

Clapham House bids to grow chain.(Eating & drinking news)(Brief Article)
March 1, 2004... Clapham House, the restaurant group founded by David Page, the former PizzaExpress boss, has submitted bids on a number of sites to expand its Real Greek restaurant brand. Paul Campbell, the company's chief executive, confirmed the group...

Councils could be given powers to ban public smoking.(Industry news)
March 1, 2004... The government plans to launch a consultation document in the Spring which could lead to a smoking ban in public places, through local authorities. It will consult on whether councils should be able to implement local bans on smoking...

BHA boss calls for co-ordinated LGA inspections.(Industry news)(British Hospitality Association)(Local Government Association)(Brief Article)
March 1, 2004... Local authorities should coordinate their approach to inspections of tourism and hospitality businesses, said Bob Cotton, chief executive of the British Hospitality Association. Cotton told delegates at a recent conference in West Sussex...

Drinks promos to be limited by licence terms.(Industry news)(Brief Article)
March 1, 2004... The government plans to give local councils new powers to attach conditions to licences or confiscate them if landlords are found to have encouraged violent or anti-social behaviour with happy hour-style promotions. The powers were...

Scottish pubs must opt in to allow children.(Industry news)(Brief Article)
March 1, 2004... Ministers in Scotland will reject proposals allowing children into all pubs, despite the move being recommended in the report from the Nicholson Committee published last year. The news followed the publication of a report investigating...

The running man: Stephen Hill talks to Mel Flaherty about triathlons and the challenges of building on Betfair's success.(Profile)
March 1, 2004... Modern glass-fronted offices overlooking the river and youthful receptionists wearing sports jerseys are the first things that strike you on entering the west London home of Betfair, the successful betting exchange operator. The company...

Hurdles to clear, but the going is good: horseracing faces a host of major issues but has potential for growth.(Sector update--racecourses)
March 1, 2004... A raft of legislative proposals is hanging over racecourses at the moment, but in the long-term, the going could be good. The biggest potential change stems from an Office of Fair Trading investigation into the way the industry is run. The...

Breaking the growth barrier: companies should focus on people and implementing existing strategy, says Egremont.(Business sense--driving growth)
March 1, 2004... A recent Egremont survey of more 100 chief executives and directors, conducted by Business Intelligence Research, produced a clear message for company leaders pursuing business growth--revisiting strategy may just give you the illusion of...

Leisure Report LR Index leisure stockwatch March 2004.(Sharewatch & diary dates)
March 1, 2004... Despite well over a third of companies suffering a drop in share price this month compared to last, overall the sector has done well, showing a 5.6% increase in average share price. Wembley saw the biggest increase, up 27%, after its board...

Diary dates.(Sharewatch & diary dates)(Brief Article)(Calendar)
March 1, 2004... Event MIPIM Date 9-12 Location Palais des Festivals, Cannes, France Description Corporate real estate expo. Contact www.mipim.com Event London Leisure Congress Date 10-11 Location ExCeL, London Description New event from the organisers of...