Leisure Report articles from May 2004

Leisure Report archives from May 2004

50m [pounds sterling] of health club developments revealed.
May 1, 2004... Development of major new health clubs, slowed in recent times by the downturn in the fitness market and obstacles from the planning process, seems to be stepping up a gear with three operators of large-scale facilities receiving approvals for...

High street exchange to expand after test case victory.
May 1, 2004... Sporting Options is to become the second online betting exchange operator to take to the high street through an agreement with Henry Spurway, owner of the pioneering easibet outlet in Edinburgh. Easibet, which has just had the legality of...

Will the green shoots of recovery be given the chance to grow?(Inside track)
May 1, 2004... Spring may have got off to a faltering start weather-wise, but for the leisure industry the season's arrival is a marker for the end of the first quarter and the beginning of the main tourism season and, as such, is usually welcomed. And...

BLB and MGM play trumps over Wembley ...(News)(BLB Investors)(MGM Mirage)
May 1, 2004... The battle for ownership of Wembley was in full swing as Leisure Report went to press, with MGM Mirage expected to make its next move after rival bidder BLB Investors tabled a 308.6m [pounds sterling] offer for the track-based gaming firm. ...

... As MGM announces 650m [pounds sterling] development partnership.(News)(MGM Mirage has entered a strategic alliance with Peel Holdings)(Brief Article)
May 1, 2004... MGM Mirage has entered a strategic alliance with Peel Holdings, the property development firm, to pursue opportunities for gaming-based entertainment complexes worth more than 650m [pounds sterling]. The partnership's projects are subject...

Center Parcs moots expansion.(News)(Brief Article)
May 1, 2004... Center Parcs said it was considering developing a fifth site in the United Kingdom, as it reported a strong performance since last year's flotation. The group reported average occupancy at 94% in its recent trading statement and said it is...

De Vere confirms interest in Premier Lodge.(News)(contracts)
May 1, 2004... De Vere confirmed it is considering buying Premier Lodge, the budget hotel chain being sold by Spirit Group, in partnership with Sun Capital Partners. The company said that it had been in discussions with Sun Capital over a bricks and...

Club haus MBO recommended.(News)(country club and golf course operator)(Brief Article)
May 1, 2004... Clubhaus, the country club and golf course operator, has agreed to a management buyout led by Charlie Parker, the firm's founder and managing director. Park Lane, an investment vehicle funded by Legal & General Ventures, will pay just over 56m...

Peak fitness bosses buy back five clubs.(Health & fitness news)
May 1, 2004... The former chairman and managing director of Peak Fitness have bought back five of the clubs from administration. Weald Group, the property investment and development firm whose shareholders previously had management control of Peak, has...

JJB to accelerate club site search.(Health & fitness news)(JJB Sports)(Brief Article)
May 1, 2004... JJB Sports said it would pull out the stops to find more new sites for its combined health club/superstore concept, after another strong performance from the division in the company's annual results. The company reported an 80% increase in...

Burberry man on board at fitness first.(Health & fitness news)(Fitness First appointed Michael Metcalf as chief executive )(Brief Article)
May 1, 2004... Michael Metcalf, the chief operating officer and finance director of Burberry, the up-market clothing manufacturer, was due to join Fitness First at the end of April, to take over as chief executive within about three months. Confirmation...

Henderson enters fitness sector.(Health & fitness news)(Henderson Private Capital is in management buyout of Wellnet SpA)(Brief Article)
May 1, 2004... Henderson Private Capital has backed a 50m [euro] (33m [pounds sterling]) management buyout of Wellnet SpA, the Italian operator of the 14-strong Tonic fitness centre chain. Henderson, which also invests in TopGolf, the high-tech driving...

Crown on course for AIM listing after Fitness Express sale.(Crown Sports)(alternative investment market)
May 1, 2004... Crown Sports was due to move its shares to the Alternative Investment Market on 6 May, after the sale of its last remaining non-core business. The owner of the 21-strong Dragons Health Clubs chain will cease trading on the main market this...

LA Fitness to step up health focus and site opening programme.(Health & fitness news)(LA Fitness International)
May 1, 2004... LA Fitness is stepping up its focus on the health benefits of exercise as it accelerates its expansion. Next month the firm will introduce a pilot scheme offering free weekly sessions for overweight people at three of its clubs. The sites,...

Virgin gears up for gambling debut with 'mass market' site.(Betting & gaming news)(Virgingames.com)
May 1, 2004... Virgin Group hopes its branding will attract new gamblers to the market when it makes its debut in the sector with the launch of an online gambling portal in June. Virgingames.com has appointed Oscar Nieboer, the former vice president of...

Las Vegas Sands unveils UK development plans.(Betting & gaming news)(Sands International)(Venetian Casino Resort )
May 1, 2004... Las Vegas Sands International, the American casino operator, has unveiled details of the first developments it is planning in the United Kingdom as part of its strategy to establish a significant presence in the market as it is opened up by new...

Ukbetting enters Europe.(Betting & gaming news)(GoldBet SportWetten)(Brief Article)
May 1, 2004... Ukbetting, the sports content and online gaming business has moved into Europe through the acquisition of GoldBet SportWetten, the European online sports betting firm, for 4.5m [euro] (3m [pounds sterling]), subject to certain performance...

Victor Chandler plans to grow high street presence.(Betting & gaming news)(Brief Article)
May 1, 2004... Victor Chandler, the online bookmaker, is planning to develop a chain of 50 high street betting shops by the end of the year, after acquiring Sports Bookmakers' 28 units for around 15m [pounds sterling] to 20m [pounds sterling]. The...

NOP poll shows decrease in gambler numbers.(Betting & gaming news)(National Opinion Poll )(Brief Article)
May 1, 2004... The number of people who gamble has decreased in the last five years, according to a National Opinion Poll survey carried out on behalf of the government. Survey of participation in, and attitudes towards, gambling: key findings from the...

William Hill joins FTSE 100.(Betting & gaming news)(finance)(Brief Article)
May 1, 2004... William Hill, the bookmaker which floated on the stock exchange in June 2002, has joined the FTSE 100 Index. The company, which is the second largest operator of betting shops in the United Kingdom, with 1,586 sites, reported pre-tax...

Hoteliers put in the picture about gaming.(Betting & gaming news)
May 1, 2004... Regional casinos are likely to deliver more consistent profits than resort-style properties, according to a panel of industry experts speaking at the recent International Hotel Investment Forum in Berlin. Richard Mirman, chief marketing...

Kerzner gets Gaming Board consent.(Betting & gaming news)(Kerzner International)(Brief Article)
May 1, 2004... The Gaming Board for Great Britain has granted a certificate of consent to Kerzner International to transfer the licence of London Clubs International in Northampton into its name. Kerzner said the move was a "positive recognition of the...

Goulden takes over reins at Gala Group.(Betting & gaming news)(appointments)(Brief Article)
May 1, 2004... Neil Goulden has taken on the role of chief executive at Gala Group to replace John Kelly, who has become chairman. As well as taking on responsibility for the day-to-day running of the firm's 168 bingo clubs and 30 casinos, Goulden will...

LCI plans giant casino at the Troc.(Betting & gaming news)(London Clubs International)(Brief Article)
May 1, 2004... London Clubs International has an agreement in principle with Burford, owner of The Trocadero to turn its Golden Nugget casino at the site into a massive gaming venue, subject to new gaming legislation. Under the proposals, LCI plans to...

Racecourses to launch their own TV channel as attheraces ceases live UK broadcasts.(Sport news)(Racecourse Holdings Trust)
May 1, 2004... A number of the leading racecourses in the United Kingdom are joining forces to maximise the potential of their media rights by launching a subscription-based TV channel. Goodwood, Doncaster, York, Chester, Ascot and Newbury racecourses,...

Chepstow restates growth ambitions.(Sport news)(The Chepstow Racecourse PLC)(Brief Article)
May 1, 2004... Chepstow Racecourse plc, the operator of nine racecourses, said it is continuing to explore opportunities to acquire other courses as it awaits this month's decision over its bid to run Doncaster Racecourse. Doncaster Metropolitan Borough...

Newcastle's new deal.(Football shorts)(Newcastle United is in sponsorship deal with Northern Rock)(Brief Article)
May 1, 2004... Newcastle United announced a new sponsorship deal with Northern Rock, the mortgage lender that also sponsors Newcastle Falcons, the rugby union team. Details have not been revealed but it is understood to be Northern Rock's biggest ever deal...

Villa rejects offer.(Football shorts)(Aston Villa rejected a bid for the club from Ray Ranson)(Brief Article)
May 1, 2004... Aston Villa rejected a reported [pounds sterling]30m bid for the club from Ray Ranson, the former Manchester City defender. The club confirmed it had received an indicative proposal to acquire the entire issued share capital, but said the bid...

Man U profits leap.(Football shorts)(Manchester United Football Club PLC)(Brief Article)
May 1, 2004... Profits at Manchester United rose by 3296 for the six months to 31 January to 26.8m [pounds sterling]. Operating profit was 25.9m [pounds sterling], up 2796 on higher media revenues, which climbed 24%. Turnover fell slightly on last year to...

Charlton in the red.(Football shorts)(Charlton Athletic Football Club's finance)(Brief Article)
May 1, 2004... Charlton Athletic FC reported a net loss of 690,000 [pounds sterling] for the six months to 31 December 2003, which it attributed to a one-off 1m [pounds sterling] charge for a single player, and said it should return to profit by the end of...

Blades plans debt cuts.(Football shorts)(Sheffield United)(Brief Article)
May 1, 2004... Sheffield United said it is hopeful that a casino development planned for its Bramall Lane ground will help reduce its debts. The club unveiled debts of 9.8m [pounds sterling] in its interim results to 31 December 2003, which it hopes to torn...

Leeds saved.(Football shorts)(consortium of Yorkshire businessmen)(Brief Article)
May 1, 2004... Leeds United was saved by a consortium of Yorkshire businessmen, who paid between 20m [pounds sterling] to 30m [pounds sterling] for the club as the parent company was placed into administration. The consortium, Adulant Force, which was part...

DVD growth 'not such a bit threat to cinema', delegates told.(Cinema & entertainment news)
May 1, 2004... The growing popularity of DVDs does not seem to be impacting cinemagoing as much as many in the industry had initially feared, according to an ongoing study of film viewing and buying habits. Speaking at the recent 7th National UK Cinema...

Palace enters tenpin sector.(Cinema & entertainment news)(Palatial Leisure have entered the tenpin market via the acquisition of Leisure Gate )(Brief Article)
May 1, 2004... The owners of Palatial Leisure, the bingo and cinema operator, have entered the tenpin market via the acquisition of Leisure Gate from administrative receivers. Following completion of the purchase of Leisure Gate's three Superbowls for an...

Nexum buys two from Springwood.(Cinema & entertainment news)(Nexum Leisure)(Springwood Leisure)(Brief Article)
May 1, 2004... Nexum, the company that acquired much of the collapsed Springwood Leisure estate has bought two more nightclubs formerly run by the company, for an undisclosed fee. Nexum Leisure acquired New York New York and McCluskey's through Ernst &...

Merlin reports strongest Easter for five years.(Tourism & attractions news)(Merlin Entertainments Group)(Brief Article)
May 1, 2004... Merlin Entertainments Group, the tourist attractions operator, said that admissions during the recent Easter weekend were the highest it has received in the past five years. The firm, which completed a 72.5m [pounds sterling] secondary...

QMH eases sale with lender deal.(Tourism & attractions news)(Queen's Moat Houses PLC )(Brief Article)
May 1, 2004... Queens Moat House announced that it has reached agreement on changes to the terms of 215m [pounds sterling] of debenture stock, after talks with its lenders first announced in August last year. The move will make it easier to sell the...

PE firm takes on Six Flags Europe.(Tourism & attractions news)(Palamon Capital Partners)(Brief Article)
May 1, 2004... Palamon Capital Partners, the London-based European mid-market investor, has emerged as the new owner of the European division of Six Flags, the American theme park operator. Palamon bought the firm, which has seven theme parks in Germany,...

Grounds for optimism, says PKF.(Tourism & attractions news)(British hotel industry )
May 1, 2004... The British hotel industry has stronger grounds for optimism in 2004 than in any of the previous three years, according to Hotel Britain 2004, a new publication from PKF, the consultancy firm. Robert Barnard, director at PKF consultancy...

Parkdean buys Scottish park.(Tourism & attractions news)(Parkdean Holidays has bought Border Travel Services)(Brief Article)
May 1, 2004... Parkdean Holidays has bought Border Travel Services, the owner of Southerness Holiday Village in south west Scotland, for 5.29m [pounds sterling] Southerness offers 718 pitches alongside an indoor swimming pool, bars, restaurant, amusement...

'Room for budget hotel growth in UK'.(Tourism & attractions news)(Brief Article)
May 1, 2004... There is still room for expansion in the budget hotel arena in the United Kingdom, according to a panel of industry representatives at the recent International Hotel Investment Forum in Berlin. David Finkel, vice president of asset finance...

UK's largest leisure property fund launched.(Property & development news)(Brief Article)
May 1, 2004... X-Leisure, the branded leisure property arm of Capital & Regional has completed the merger of the three funds it acquired from Marylebone Warwick Balfour last year to launch the largest leisure property fund in the United Kingdom The...

Manchester racecourse under starters orders.(Property & development news)(Brief Article)
May 1, 2004... Manchester is set for the development of its first racecourse in 40 years, since the closure of Castle Irwell in 1963. Peel Holdings has submitted an outline planning application for the 111m [pounds sterling] development of the New...

Go-ahead imminent for Leeds scheme.(Property & development news)(Brief Article)
May 1, 2004... Plans for a 125m [pounds sterling] mixed-use scheme featuring a casino are expected to get the green light from planners in Leeds within weeks. The proposed 600,000 square foot Playhouse Square development, by MetroHolst, includes a...

50m [pounds sterling] development unveiled for Abbey Stadium.(Property & development news)(Abbey Stadium in Redditch)(Brief Article)
May 1, 2004... Plans have been unveiled for a 50m [pounds sterling] redevelopment of Abbey Stadium in Redditch, Worcestershire, that would see the venue turned into a 500,000 square foot leisure complex based around an indoor snow and ice centre to be named...

TV group plans extreme leisure and sport parks.(Property & development news)(Extreme Group has launched a new division, EX Parks, to develop leisure and retail facilities )(Brief Article)
May 1, 2004... Extreme Group, the group behind the Extreme Sport TV Channel, has launched a new division, EX Parks, to develop leisure and retail facilities based around skateparks and waveparks. The new venues will feature technology to produce an indoor...

Clapham House's second buy gives platform to roll out Indian restaurant/delivery concept.(Eating & drinking news)(Bombay Bicycle Club)
May 1, 2004... Clapham House, the company set up by the former boss of PizzaExpress, David Page, to acquire fledgling restaurant concepts, has unveiled plans to develop a chain of Indian restaurants and delivery outlets after its purchase of the Bombay...

TDR extends Ask offer deadline.(Eating & drinking news)(TDR Capital bids to buy Ask Central )(Brief Article)
May 1, 2004... TDR Capital, said that it had received valid acceptances for its bid for Ask Central from shareholders representing 65.7% of the restaurant company's stock. TDR said it would extend the offer for 10 days, with the next closing date due on...

Swallow chief to lead RoadChef.(Eating & drinking news)(appointments)(Brief Article)
May 1, 2004... Martin Grant, the former boss of the Swallow hotel chain, is to succeed John Greenwood as chief executive of RoadChef, the motorway services operator, from September. John Soden, managing director of Nikko Principal Investments, RoadChefs...

Paramount doubles Chez Gerard profits.(Eating & drinking news)(finance)(Brief Article)
May 1, 2004... Paramount, the company that bought Chez Gerard year, has more than doubled profits at the group's restaurants with 20% fewer outlets. Revealing its interim results for the six months to 28 December 2003, Paramount said group turnover from...

Pret pulls out of Japanese market.(Eating & drinking news)(Pret A Manger)(Brief Article)
May 1, 2004... Pret A Manger has confirmed that it is pulling out of Japan, 18 months "after entering the market with ambitious roll-out plans. The company has closed the last of its stores in the country, where, at its peak, it had 14 sites. Pret had...

Prezzo sees turnover triple.(Eating & drinking news)(finance)(Brief Article)
May 1, 2004... Prezzo, the restaurant company run by Jonathan Kaye, cousin of Adam and Sam Kaye, founders of the Ask chain, has reported full year pre-tax profit before disposals of 470,000 [pounds sterling], against a loss of 86,000 [pounds sterling] last...

Licensing guidance creates 'more confusion'.(Industry news)(Brief Article)
May 1, 2004... The government has been accused of creating "delay and confusion" with the final publication of draft guidance on licensing reform. Tessa Jowell, the Culture Secretary denied that roles allowing 24-hour opening were at odds with the...

Pub chief to discuss smoking ban with MPs.(Industry news)(Brief Article)
May 1, 2004... Tim Martin, the chairman of JD Wetherspoon, has been granted an audience with MPs in the wake of his controversial call for a compulsory smoking ban in all pubs. The Department for Culture, Media and Sport invited Wetherspoon's...

Two new reports highlight the trends that are keeping brands at the heart of licensed retailing and outline predictions for the UK pub market in 2004.(Industry news)
May 1, 2004... This month the publisher of Leisure Report brings you the new 2004 editions of the Guide to UK Pub, Bar & Nightclub Brands and Key Issues in the UK Pub Market. Branded pubs and bars have not had a good press this past year, with High...

All-party leisure group seeks chair.(Industry news)(All-Party Parliamentary Leisure Industry Group)(Brief Article)
May 1, 2004... The All-Party Parliamentary Leisure Industry Group, the back bench group formed to raise awareness of industry issues within parliament, is looking for a new chairman after Barry Gardiner's promotion to junior minister in the Northern Ireland...

Restaurants face service charge fines.(Industry news)(Brief Article)
May 1, 2004... Trading standards authorities could prosecute restaurants that automatically add a discretionary service charge to bills or leave the gratuity box blank on credit card slips when the service charge has already been paid as part of the bill. ...

Good in as far as it goes: Mel Flaherty examines the recommendations of the Scrutiny Committee on the Draft Gambling Bill.(Analysis--Gambling Scrutiny Committee Report)
May 1, 2004... Anyone reading the Sunday papers the weekend before the publication of the Joint Committee on the Draft Gambling Bill's report could have been forgiven for thinking that the government was about to do a total u-turn on its proposals to relax...

Let me entertain you: Michael Appleton discusses his ambitions for the Big Apple entertainment centre concept with Mel Flaherty.(Profile)(American Amusements)
May 1, 2004... Here's a dilemma. Spend more time at your holiday homes in Naples and Florida and indulge your passion for tennis, or invest in an ailing business and try and turn it around? Surely that's a no-brainer. So why oh why did Michael Appleton plump...

Don't get too wrapped up in tackling red tape: a survey by RSM Robson Rhodes says leisure firms may be getting their priorities wrong.(Research)
May 1, 2004... In the wake of the many challenges the leisure industry has faced over the last few years, some investors and operators are at last beginning to exhale. However, others are continuing to hold their breath as regulatory changes rapidly approach...

Immaculate conceptions: Egremont explains what it takes to make a good idea a successful business concept.(Business sense--developing new concepts)
May 1, 2004... Leisure has always been about developing new concepts, but being able to create ideas for venues which deliver exceptional business results is becoming ever more critical. The life cycle of successful concepts is dropping all the time...

Leisure Report LR Index leisure stockwatch May 2004.(Sharewatch & diary dates)(Illustration)
May 1, 2004... While almost half of the companies in the table saw their share prices slip over the last month, there were a number of year-highs. Of these, the notable ones were Wembley, which continues to ride high as BLB Investors and MGM Mirage keep...

Diary dates.(Sharewatch & diary dates)(Brief Article)(Calendar)
May 1, 2004... May Event: Tenpin Bowling Proprietor's Association annual awards Date: 7 Location: Walkers Stadium, Leicester Description: The Oscars of the tenpin bowling industry. Contact: Go-Tenpin, 01159 831622 Event:...