Leisure Report articles from March 2005

Leisure Report archives from March 2005

New health buyout vehicle to list.(News)(Cadogan Park)
March 1, 2005... Three leading figures from the leisure industry are set to launch an investment vehicle this month, to capitalise on new opportunities in the UK wellness and lifestyle market. Cadogan Park, as the vehicle will be known, will aim to create...

Esporta eyes exit from mid-market clubs.(News)
March 1, 2005... Premium health club operator Esporta revealed its long-term plans were likely to involve an exit strategy for its mid-market clubs, either through repositioning them at the premium end of the market, or through a disposal programme, over the...

Government gambles mean Bill becomes a shambles.(Inside track)(campaign of British Casino Association)("Kill the Bill" campaign )
March 1, 2005... As we go to press this month, the Gambling Bill, several years in the making, hangs in the balance. As the 'controversial' legislation heads towards the House of Lords at about the stone time you're reading this, it faces a fresh attack from...

Sportech on track to meet expectations with 9m [pounds sterling] profits.(News)
March 1, 2005... Sportech, owner of Littlewoods Gaming, said in a trading statement that for the financial year ended 31 December 2004, it expected to report pre-tax profits in the region of 9m [pounds sterling], in line with market expectations. The...

Leisure Link wins new contracts to supply Park Dean and Parks Resorts.(News)(contracts of Park Dean)(Brief Article)
March 1, 2005... Leisure Link Group, the UK's leading machine management company owned by Henderson Private Capital, announced it had signed "significant" contracts to manage amusement machine arcades for two of the largest UK Holiday Park operators--Park Dean...

Industry says Olympics will help growth.(News)(research of People 1st, the Sector Skills Council)(Brief Article)
March 1, 2005... People 1st, the Sector Skills Council for the leisure industry, revealed the results of its research as the International Olympic Committee arrived in the UK to evaluate London ahead of the Olympics in 2012. The leisure industry is on the...

Citizens Advice issues warning on gym sales tactics.(Health & fitness news)(Evidence from Citizens Advice Bureaux )
March 1, 2005... Citizens Advice, the UK charity group, has issued a warning for the public to beware of unscrupulous sales tactics used by some gyms to get people to sign up for club membership. The warning came as the Office of Fair Trading launched its...

Fitness First adds five heavyweights to board.(Health & fitness news)
March 1, 2005... Fitness First, the largest fitness club operator in the UK and Europe, announced the appointment of five new directors. Matthew Leonard, who for the past five years has worked as regional business manager for Fitness First in the Midlands,...

Two left in race to win LA Fitness.(Health & fitness news)
March 1, 2005... The UK's last listed health and fitness group, LA Fitness, reported trading in the key month of January had been satisfactory, as the race to buy the group appeared to be down to two private equity firms. MidOcean Partners and Electra are...

New franchise chief at Energie.(Health & fitness news)(Energie Fitness)(Brief Article)
March 1, 2005... Jonathan Holden, formerly head of sales and operations with Kall Kwik, the printing franchise operator, has been appointed as the new franchise development manager at Energie Fitness. During his tenure at Kall Kwik, Holden coordinated...

One small step for Bannatyne's Armstrong.(appointment)(Nigel Armstrong)(Brief Article)
March 1, 2005... Bannatyne Fitness, the northern health club operator and largest independent UK fitness group, announced the appointment of Nigel Armstrong as its new managing director. Armstrong will take up the newly created position as the company...

GR Holdings to quit sector with 8.9m [pounds sterling] sale of Grayshott Hall.(Brief Article)
March 1, 2005... Grayshott Hall, the subsidiary of GR Holdings, announced it had exchanged contracts for the sale of its property, fixed assets and only business, the Grayshott Hall Health Fitness Retreat, paving the way for its parent company to quit the...

Legend appoints new head of sales.(Legend Club Management Systems)(Brief Article)
March 1, 2005... Legend Club Management Systems, the supplier of membership management solutions to the health and fitness market, has appointed Steve Webber as head of sales for its UK operations. Webber's appointment is his first within the health and...

Leisurejobs sees multi-skilled spa managers in demand in 2005.
March 1, 2005... Leisurejobs.com, the online job board for spa and leisure vacancies, revealed the results of its recent survey of recruitment trends within the UK spa market, which showed that there was a particular demand for candidates with a combination of...

Top fifty global gambling stocks topped $100bn market capitalisation for the first time in 2004, says GBGC.(Global Betting and Gaming Consultants)
March 1, 2005... The value of the world's gambling business continues to soar and show no signs of running out of steam in the foreseeable future according to Global Betting & Gaming Consultants, who track the largest 50 specialist gambling companies in their...

London Clubs International gets in the fast lane.(marketing alliance)(Brief Article)
March 1, 2005... London Clubs International, the UK gaming group, announced it had agreed to link up with Societe des Bains de Mer Monte-Carlo, the Monaco based Monte-Carlo leisure company, for a "marketing alliance aimed at developing international market...

Castlemore and BoS venture scoops 6.5m [pounds sterling] bingo portfolio.(Bank of Scotland)(Brief Article)
March 1, 2005... Castlemore Securities, the UK property and development group, and Bank of Scotland Corporate announced they had extended their existing joint investment portfolio with the purchase of a number of new sites. The joint venture purchased a...

Commission bets on black country.(relocation)(Gambling Commission)(Brief Article)
March 1, 2005... Ministers have announced that the Gambling Commission will leave London for Birmingham. The Commission will replace the Gaming Board of Great Britain to regulate commercial gaming in the UK. Following the announcement last year that...

Stakeholders call 'house' as Gala returns 275m [pounds sterling].(Brief Article)
March 1, 2005... Gala Group, the UK bingo operator, announced the successful completion of a refinancing process in which it has renegotiated its borrowings to take advantage of the company's recent strong financial performance and favorable market conditions....

Stanley Leisure to take a punt on all 24 new casino licences, as FOBT machines lift profits.
March 1, 2005... Reporting a robust set of interim figures, Stanley Leisure said that it would consider bidding for all 24 casino licences proposed under the 'relaxation' of the gaming laws, should the legislation pass before this year's general election. ...

Island casino plan for Brighton has planners flummoxed.(Brief Article)
March 1, 2005... Architects have revealed plans for an island to be built off Brighton in East Sussex which would include luxury hotels, a casino and glass-topped dome with round-the-clock sunshine. Pleasure Island, which would be two thirds of a mile out...

Wembley puts its 50m [pounds sterling] UK greyhound business on market after sale of US division.(Brief Article)
March 1, 2005... Wembley, the UK-based gaming group has put six UK greyhound tracks up for sale, with an estimated value of between 40m [pounds sterling] and 50m [pounds sterling]. The news came as the company reported plans to sell its US gaming division to...

Betinternet.com cuts its losses as turnover rises.(Betting & gaming news)
March 1, 2005... Betinternet.com plc, the global on-line gaming group, reported narrowed losses in its interim results for the 26 weeks ended 28 November 2004. Group turnover increased by 80% to 47.06m [pounds sterling] in the period, helping Ebitda losses...

Top Ten judges bingo deal to be worthwhile.(Betting & gaming news)(Bingo operator Top Ten)(Judges Hall bingo club)(Brief Article)
March 1, 2005... UK Bingo operator Top Ten announced that the company had agreed, conditional upon shareholder approval, to acquire the Judges Hall bingo club, a traditional bingo club in Tonypandy in South Wales, together with the freehold properly from...

Sweeney backed.(Betting & gaming news)(Brief Article)
March 1, 2005... Paddy Power, the Irish bookmaker, announced the appointment of Brody Sweeney as a non executive director. Sweeny is founder and chief executive of O'Brien's Irish Sandwich Bars. Fintan Drury, Paddy Power chairman, commented: "As one of...

New sales manager to build 888.com brand in UK.(Betting & gaming news)(Brief Article)
March 1, 2005... 888.com, the online casino and poker room, announced the appointment of Rob Mitchell as UK sports marketing manager. Reporting directly to Matt Robinson, UK marketing manager, Mitchell's responsibilities will include sports media buying and...

Saints report 1.66m [pounds sterling] loss despite Dell sale.(Sports News)(Southampton Leisure)(sale of The Dell)
March 1, 2005... Southampton Leisure announced a pre-tax loss of 1,655,000 [pounds sterling] for the six months ended 30 November 2004, despite seeing some 4m [pounds sterling] added to the balance sheet from the sale of the club's former ground at The Dell....

De Vere sells Belfry complex for 186m [pounds sterling].(Sports News)(Brief Article)
March 1, 2005... De Vere, the hotel group, is to sell The De Vere Belfry, the luxury leisure, hotel and championship golf course site, in a sale-and-manageback deal, which will see it return around 183m [pounds sterling] to shareholders. Irish property...

Aston Villa cuts player costs but still records a loss.(Sports News)
March 1, 2005... Despite seeing a substantial reduction in player overheads, Aston Villa was unable to record a profit in its interim results for the six months to 30 November 2004, and with early exits in both domestic cup competitions coupled with another...

New board members see Hearts drop Tynecastle sale.(Sports News)(Hearts)
March 1, 2005... Heart of Midlothian announced the resignation of Brian Duffin as a non-executive director, and the appointment of Sergejus Fedotovas, an executive director of Ukio Bankas; Roman Romanov, a member of the board of UKIO Banko Investicine Grupe;...

Burnley to team up with Sheffield United board.(Sports News)(Sheffield United )(Brief Article)
March 1, 2005... The board of Sheffield United announced the appointment of John Lewis Burnley as a non-executive director. Burnley is senior partner of Burnley Wilson Fish, the Leeds based Chartered Quantity Surveyors. He is also a non-executive director of a...

Crown Golf names new property boss.(Sports News)(Crown Golf)(Brief Article)
March 1, 2005... Crown Golf announced that it had appointed Matthew Lynwood as property director, following last month's acquisition of American Golf UK. Lynwood joined Crown in November 2004, from Whitbread. He will be responsible for overseeing property...

Geordies cancel PTV joint venture agreement.(Sport news)(Brief Article)
March 1, 2005... Newcastle United and its joint venture partner PTV have terminated the joint venture and management agreements under which they operated their media rights joint venture business, nufc.co.uk Newcastle United has purchased the entire PTV...

Premiership clubs show off scoring power.(Sport news)(Premiership)
March 1, 2005... Manchester United remained at the top of the list of Europe's richest football clubs, as Deloitte unveiled its eight annual Money League and predicted that Chelsea and Arsenal could soon overhaul Real Madrid for second place. Eight clubs...

Lions name new chairman as Paphitis steps down.(Sport news)(Brief Article)
March 1, 2005... Millwall Holdings, the parent company of Millwall Football Club, announced that further to its announcement last August of the impending retirement of Theo Paphitis at the end of this season, it has been agreed that Jeffrey Burnige will become...

Leisure Report LR Index football stockwatch.(Sport news)
March 1, 2005... Charlton Athletic led the gainers in a quiet month in terms of trade volumes and price movement for listed football clubs. The Addicks gained 16.3% as their strong season continued, putting them in sight of a lucrative European place next...

UK holiday parks booming as Phoenix confirms Weststar deal.(Tourism & attractions news)(Phoenix Equity Partners)(Weststar Holidays)(holiday parks)
March 1, 2005... Phoenix Equity Partners, the successful UK mid-market private equity firm, confirmed its interest in the flourishing UK holiday park sector with the news that it had acquired the Generations Group, parent company of Weststar Holidays, the high...

Chief executive to step down from Grevin & Cie.(Tourism & attractions news)(Grevin & Cie)(Brief Article)
March 1, 2005... Olivier de Bosredon, chief executive of French theme park operator Grevin & Cie, revealed he is to leave the company after 17 years. The announcement came as the company unveiled ambitious new plans to expand its offering in both the UK and...

VisitBritain warns on complacency.(Tourism & attractions news)(Brief Article)
March 1, 2005... VisitBritain has warned the industry against complacency after 2004 saw the highest ever number of overseas visitors to the UK. Tom Wright, chief executive, said: "An unfavourable exchange rate with the US dollar, and the trend towards shorter...

TRI says tourism and hospitality growth to continue but Deloitte more cautious.(Tourism & attractions news)(TRI Hospitality Consulting services)(TRI HotStats results)(Deloitte's HotelBenchmark Survey)
March 1, 2005... The strong figures of 2004 will continue into this year, and there is "enormous cause for optimism" in the hotel industry, according to TRI Hospitality Consulting's yearly review. However, Deloitte took a more cautious outlook, warning of a...

Cobarna and Franklyns clubs to change hands.(Cinema & entertainment news)(Cobarna Nightclub sold to Om-ega Entertainment)(sale of Eranklyns nightclub of Verase)(Brief Article)
March 1, 2005... The Cobarna Nightclub in Stevenage has been sold for an undisclosed amount to Om-ega Entertainment. The club was put up for sale with a guide price of 500,000 [pounds sterling] by receivers Ernst & Young. The club was formerly owned by...

Luminar bets on 'Majestic' Leeds casino development as board members leave.(Cinema & entertainment news)
March 1, 2005... Planning permission has been granted for Luminar to develop a 50,000 sq ft casino in Leeds, with its joint venture partner Accor. The casino will be a conversion of the Luminar's Majestic nightclub in the city. Matthew Smallwood, a...

UGC cinemas set to rebrand as Cineworld.(Cinema & entertainment news)(Brief Article)
March 1, 2005... The UGC Cinema chain has confirmed that all 42 of its cinemas are to be rebranded Cineworld. The news comes following the purchase of UGC by Cine UK, the parent company of Cineworld, in December last year. Cine UK has 35 sites in the UK,...

Mean Fiddler up on new bid talks.(Cinema & entertainment news)(Brief Article)
March 1, 2005... Shares in Mean Fiddler rose 12% to 53p in stock market trading, ahead of confirmation that it had received an approach that could lead to a takeover bid. The company, which owns the Jazz Cafe and Astoria music venues and a partial stake in...

Lack of lesbians hits Candy Bar.(Cinema & entertainment news)(Candy Bar lesbian club)(Brief Article)
March 1, 2005... The Candy Bar lesbian club in Brighton has been put up for sale. Kim Lucas, the club's owner, will keep its sister venue in London. Lucas told the Brighton Argus: "There is not enough of a lesbian scene in Brighton to make it a successful...

For Your Eyes Only set to reach a wider audience.(Cinema & entertainment news)(Ladhar Group)(Brief Article)
March 1, 2005... Ladhar Group, the owner of the For Your Eyes Only chain of table top dancing clubs, said it had plans to pursue an aggressive growth strategy this year. The company said negotiations are currently underway with Glasgow City Council while...

Caffe Nero planning expansion outside London.(Food & drink news)
March 1, 2005... Caffe Nero said that it intended to continue with its UK rollout, backed by a 76% rise in half-year Ebitda. For the six months to 30 November, the company saw pretax profits of 1.89m [pounds sterling] on a 40% rise in turnover. Operating profit...

La Tasca appoints ex-Ritz man as non-executive.(Food & drink news)(Brief Article)
March 1, 2005... La Tasca has appointed Ian Edward as a non-executive director. Edward's past directorships include Ritz Bingo and he is currently a non-executive director of Black Arrow Group, Leisure Link Holdings and an advisor to Duke Street Capital....

Starbucks brews up a mixed set of results as strong growth slows.(Food & drink news)
March 1, 2005... Starbucks reported like-for-like sales growth of 10% for the 13 weeks to 2 January, and posted a profit of $144.9m, or 35 cents a share. Jim Donald, chairman, said the period was "our strongest holiday ever". However, the group posted...

McDonald's set to expand in Russia.(Food & drink news)(Brief Article)
March 1, 2005... McDonald's has announced that it plans to invest at least $40m (21m [pounds sterling]) in Russia, and open 25 new restaurants this year. Each new restaurant is estimated to cost $1m. The rest of the money will be spent on renovating the...

Little Chef restaurants to be sold.(Food & drink news)(Brief Article)
March 1, 2005... The 38 Little Chef restaurants put up for sale are likely to be sold individually or in small groups, according to agents Christie & Co. Colin Wellstead, who is managing the sale for Christie & Co, told Leisure Report: "These are...

300m [pounds sterling] Yorkshire leisure project developers seek a YES!(Property & development news)(Oak Holdings)
March 1, 2005... Oak Holdings has submitted an outline planning application to Rotherham Council for its 300m [pounds sterling] YES! entertainment resort in south Yorkshire. The project is being developed in association with Rotherham Metropolitan Borough...

80m [pounds sterling] indoor ski complex planned for Sheffield.(Property & development news)(Snow Mountain)(Sheffield Ski Village)(Brief Article)
March 1, 2005... Outline plans for an 80m [pounds sterling] indoor ski village, called Snow Mountain, have been submitted to Sheffield City Council. The development will be on a 30-acre site at Parkwood Springs, close to the existing Sheffield Ski Village....

Olympic aquatics centre unveiled as part of London 2012 bid.(Property & development news)(London 2012)(Brief Article)
March 1, 2005... A 70m [pounds sterling] aquatics centre for the London 2012 Olympic bid has been travelled, and bid officials have said the centre will be built regardless of the success of the bid. The 20,000-capacity centre will feature an S-shaped roof,...

Council buys G-Mex for 20m [pounds sterling].(Property & development news)(Brief Article)
March 1, 2005... Manchester City Council is in talks to buy out its partner in the Manchester G-Mex centre in a deal thought to be worth 20m [pounds sterling]. Aviva, the insurer, is currently in a joint venture split with the council of 52:48, with the...

Minimum wage rise hits business and could pose risk to jobs.(Industry news)(Brief Article)
March 1, 2005... The government's promise to raise the national minimum wage would lead to wide-scale job losses, organisations representing thousands of small businesses employing low-paid workers in hotels, restaurants and shops have warned. Even though...

EU demands food records kept for five years.(Industry news)
March 1, 2005... The European Union has announced new regulatory requirements for the food and drink industry, obligating them to track and record all food from "farm to fork". The requirements for Article 18 of the General Food Law affect all companies...

Deadline extended for doormen licences due to slow take-up.(Industry news)(Brief Article)
March 1, 2005... Police are extending the deadline for door supervisors to apply for new licences because of a lack of uptake. Regulatory body the Security Industry Authority estimates there are 40,000 full or part-time security workers in the country....

Anderson joins PC Hansen.(Industry news)(P C Hansen & Co)(Brief Article)
March 1, 2005... P C Hansen & Co, the corporate advisory, firm to the leisure sector, has appointed Fraser Anderson as executive director. During his career at Deutsche Bank, Anderson advised on deals such as the 1.2bn [pounds sterling] acquisition of...

Local smoking ban objections submitted as trade bodies unite in protest.(Industry news)(Brief Article)
March 1, 2005... Trade bodies have submitted their objections to the Private Bills bought by councils in Liverpool and London to ban smoking in public places The ALMR, BBPA and BHA have jointly registered their opposition to local authorities bringing in...

Your business is people-driven. Are you? Nigel Sapsed, general manager at The MSE Group, takes a look at recruiting in the leisure sector.(Business sense)
March 1, 2005... I was out recently with the HRD of a small traditional business on the south coast. As we tucked into our apple pie and ice cream, conversation drifted towards her company and the success in terms of sales growth they had enjoyed over the last...

Eight different approaches to a winning exit route: selling businesses is an art. Chris Hutt offers advice on exit strategies that can maximise the pay off.(Business sense)
March 1, 2005... In mid-2004, the The Sunday Times' Enterprise Network decided to research the field of company exit strategy. Executives in a range of industry sectors were consulted, and then their general experience was pooled. Last autumn a series of...

Leisure Report LR index leisure stockwatch February 2005.(Sharewatch & diary dates)
March 1, 2005... Caffe Nero reported same store sales growth of 8.5% in December and January and said it had more than doubled underlying pre-tax profit for the six months to 30 November. This led shares in the company to rise by just over 30%. Arena...

Diary dates.(Sharewatch & diary dates)(Calendar)
March 1, 2005... March Event: SIBEC Asia Date: 3-5 Location: Royal Cliff Beach Resort, Thailand Description: Annual business meetings forum for the Asia Pacific Health, Fitness and Spa industry Contact: Jonathan Needs, Pelican Events, +44...