Leisure Report articles from May 2005

Leisure Report archives from May 2005

Re-listing IG sets spread at 400m [pounds sterling].
May 1, 2005... IG Group, the spread-betting specialists, said it expected to achieve a market value of between 375m [pounds sterling] and 435m [pounds sterling] when it returned to the stock market later at the end of April. The firm, which was taken...

New sports venue set for central London.(Brief Article)
May 1, 2005... The event company Number One Venues announced it had secured Westminster City Council's planning committee's approval to develop one of London's prime central locations into a high quality corporate and indoor sports events venue, as Leisure...

Globalisation--an emerging trend in leisure?(Inside track)
May 1, 2005... The Blackstone Group and Clear Channel Entertainment, have at least two things in common. Both are US-based firms, and both now hold major stakes in the UK leisure sector; the former already controls about a quarter of the cinema market and the...

GVA Grimley strengthens its leisure properly division.(appointments)(Brief Article)
May 1, 2005... GVA Grimley, the UK property advisers, has recruited five senior licensed, leisure and hotels professionals from Chesterton. They will join a number of specialists already within the group, to form what the company hopes will be "a significant...

Crown Sports works out a profit as Dragons clubs show muscle.(company earnings)(Brief Article)
May 1, 2005... Crown Sports, the AIM-listed health and fitness club operator, saw its balance sheet return to the black with a sharp increase in operating profits, as it announced results for the year ended 31 December 2004. On slightly reduced group...

Whitbread names Habgood as new chair.(appointment)(chairman)(Brief Article)
May 1, 2005... Whitbread, the UK leisure group, announced it has appointed Anthony Habgood as chairman designate. He will take over the role of from Sir John Banham when he retires from the Whitbread board in August. Sir John, who will be 65 in August,...

Man Utd board set to spurn Glazer offer.(News. Manchester United.)(Brief Article)
May 1, 2005... Malcolm Glazer's drawn out pursuit of Manchester United received a further setback as Leisure Report went to press, as it emerged that senior members of the club's boardroom were unlikely to recommend the tycoon's latest offer of 300p a share....

Diabesity--the twin trouble: Diabesity overshadows the IHRSA 24th Annual Convention for David Minton.(Special Report--IHRSA Conference [International Health, Racquet & Sportsclub Association])
May 1, 2005... Diabesity is now rampant throughout the US. Diabesity, the twin epidemics of diabetes and obesity, in both children and adults has reached a stage where doctors and academics are calling for 'progress to be redefined'. A decade ago a child...

JJB Sports plans to double its gym numbers by 2006.(Brief Article)
May 1, 2005... JJB Sports is to expand its estate of combined gyms and superstores, despite reporting a 30% fall in full-year pre-tax profits. Pre-tax profit fell to 50.4m [pounds sterling], from 67.8m [pounds sterling] the previous year, with sales down...

LA Fitness recommends 90.3m [pounds sterling] offer.
May 1, 2005... LA Fitness finally announced that it was in talks with MidOcean Partners over a potential 220p per share offer for the group. Peter Jacobs, the company's chairman, said that the deal, which values the group at 90.3m [pounds sterling],...

Esporta grows estate as 'racqueteering' proves profitable.
May 1, 2005... Esporta, the health, fitness and racquets club operator, made a healthy start to 2005 with the purchase of four news sites to grow its estate. In addition to signing agreements to develop clubs in Basingstoke, Peterborough and Norwich,...

Champneys' finances out of shape but directors remain optimistic over future.(company earnings)(Brief Article)
May 1, 2005... Champneys, the UK health resorts group, saw its losses increase to 4.5m [pounds sterling] for the 12 months to April 2004, according to accounts filed at Companies House. The firm reported a loss of 268,000 [pounds sterling] the previous...

Stanley's high street sell-off could trigger wholesale change in UK gaming market.(acquisition)(Stanley Leisure)(William Hill)
May 1, 2005... The proposed sale of Stanley Leisure's 620-strong betting shop estate to William Hill looks set to pave the way for significant changes in UK betting market, according to industry analysts. Although Stanley has announced it is in exclusive...

Gala gets the ball rolling towards 2006 IPO.(initial public offerings)(Brief Article)
May 1, 2005... Gala is understood to have met with banks ahead of a stock market floatation, mooted for the end of this year or the beginning of 2006. Merrill Lynch, Deutsche Bank and UBS are reportedly competing to be global co-ordinator for the float....

Racing UK poaches Coral marketing man to drive subscriptions.(appointment)(Brief Article)
May 1, 2005... Racing UK, the horseracing channel set up by 30 of the country's racecourses, has appointed Nick Mills as its first director of sales and marketing. Mills will join the company from high-street betting chain Coral, where he has spent the...

Northern Racing clears hurdles to post 3.8m [pounds sterling] profit.(Betting & gaming news)(Brief Article)
May 1, 2005... Northern Racing PLC, one of the three leading racecourse operators in the UK, saw improvements in a number of its divisions as it announced its results for the year ended 31 December 2004. Turnover for the year increased to 29.4m [pounds...

Arena in the black as racecourses contribute record profits.(Betting & gaming news)(Arena Leisure)
May 1, 2005... Arena Leisure reported its first profit in five years, and declared a maiden dividend, having returned to the black after taking a heavy hit following the collapse of Attheraces in 2004. The racecourse operator reported a pre-tax profit of...

Poker overtakes sportsbook revenue at ukbetting.(Betting & gaming news)(Industry Overview)
May 1, 2005... The online sports content and gaming company ukbetting saw a 21% rise in underlying turnover last year, thanks to the rise in popularity of online poker and casino games. The spread of high-speed broadband connections allows more complicated...

Entrepreneur hopes Talarius is a Shaw thing.(Betting & gaming news)(Ben Shaw)(Brief Article)
May 1, 2005... Leisure entrepreneur Ben Shaw oversaw the flotation of Talarius, a new vehicle that has been set up to acquire chains of betting shops and bingo halls in an attempt to create a group of high-street mini casinos. Shaw, together with Marwyn...

Supporter apathy hits Preston North End.(Sport News)
May 1, 2005... Unveiling interim results for the six months to 31 December 2004, Preston North End said that a sharp fall in turnover had resulted in an increase in operating losses, despite the sale of several players. Derek Shaw, chairman, said: "As...

Charlton Athletic slips into the red off the pitch.(Sport News)(Brief Article)
May 1, 2005... The celebrations were muted as Charlton Athletic celebrated its centenary year, as the club reported a net loss of 1.7m [pounds sterling] for the six months to 31 December 2004. Overall turnover fell by 8% while overheads increased by 7%...

Blades trim operating losses.(Sport News)(Sheffield United)(Brief Article)
May 1, 2005... Sheffield United continued to try to generate revenue from off-field activities, as the club reported an impressive set of interim figures, which saw net debt and losses narrow from last time out. Operating loss before interest charges was...

Leisure report LR Index football stockwatch.(Sport News)
May 1, 2005... Despite a glut of interim results, a limited number of transactions in shares in football clubs kept prices steady last month. Taking advantage of a slip in Aston Villa's share price, Jack Petchey's investment vehicle Trefick upped its stake to...

Urbium facing 'testing' times.(Cinema & entertainment news)(Brief Article)
May 1, 2005... Urbium said that it expected market conditions for the rest of this year to be 'testing' although it remained confident of its prospects. In a trading statement the group said that March trading had continued the subdued trend noted in...

Luminar eyes quick sale of entertainment arm.(Cinema & entertainment news)(Brief Article)
May 1, 2005... Luminar, the bar and nightclub operator, put its entertainment division on the market, and said it hoped to receive initial bids within a very short timeframe. The company was not expected to complete its review of the division, which...

New owners call the tune for 38m [pounds sterling] Mean Fiddler.(Cinema & entertainment news)
May 1, 2005... Mean Fiddler, the UK music promoter, has accepted a takeover offer valuing the company at around 37.9m [pounds sterling] ($71.3m) from a joint venture between US entertainment giant Clear Channel Entertainment, and Gaiety Investments, a firm...

Yates adds its weight to BEDA.(Cinema & entertainment news)(Bar, Entertainment & Dance Association)(Brief Article)
May 1, 2005... Yates Group has joined the Bar, Entertainment & Dance Association. BEDA now has Harvest, Luminar, Nexum, the Nightclub Company, Regent Inns and Ultimate Leisure on its list of members. Jon Collins, BEDA chief executive, said that he was...

Old Course Hotel and all that jazz.(Cinema & entertainment news)(Brief Article)
May 1, 2005... The Old Course Hotel in St Andrews is to open a jazz club thanks to a suggestion from Prince William. The Prince, who attends the nearby university, was in the hotel bar with friends when he started a conversation with the manager. During...

Blackstone hoping to conjure up deal for Merlin Entertainments.(Tourism & attraction news)
May 1, 2005... The US investment firm Blackstone Group, which owns 24% of the UK cinema market following last year's purchase of UGC and Cineworld UK, is reportedly in talks to buy Merlin Entertainments, the visitor attractions operator behind the London...

Gulliver's travels to Milton Keynes for new Eco-Park development.(Tourism & attraction news)
May 1, 2005... The Gulliver's Group, owner and operator of three family theme parks in England--Gulliver's Kingdom, Gulliver's World and Gulliver's Land--has officially launched its fourth park, an ecology-based attraction. To be built next door to...

Consultancies predicting record year ahead for UK hotels.(Brief Article)
May 1, 2005... PricewaterhouseCoopers is forecasting a record year for UK hotels in 2006, with occupancy reaching 77.5% and Revpar at 59.26 [pounds sterling], nearly 5 [pounds sterling] above the 2000 level of 55.20 [pounds sterling]. For 2005, occupancy...

New chief for VisitLondon.(appointment)(Brief Article)
May 1, 2005... VisitLondon has announced that James Bidwell is to become chief executive on 6 June. Bidwell joins the company from Selfridges, where he has worked for the last four years as marketing director. He described London as "the most exciting city on...

Council seeks developer for Weston-super-Mare Tropicana.(Property & development news)(North Somerset Council)
May 1, 2005... North Somerset Council is currently seeking a development partner for the Tropicana Leisure Complex in Weston-super-Mare. The council have appointed property advisors GVA Grimley to seek out a partner for the project. Mark Brunsdon, partner...

Hoteliers back REIT move.(Property & development news)(Real estate investment trusts)(Brief Article)
May 1, 2005... The introduction of a UK Real Estate Investment Trust will encourage more development within the British hotel market, a panel at the International Hotel Investment Forum concluded. The panel--A Focus on European REITS and Financing...

Operator and developer chosen for Bristol's Arena.(Property & development news)(Bristol Waterside Arena)(Brief Article)
May 1, 2005... The South West Regional Development Agency has selected Bristol Waterside Arena as the developer and operator of Bristol's new 10,000-seat arena, set to be the landmark feature of the city's Temple Quarter redevelopment. BWA is a...

320m [pounds sterling] SnOasis awaits consent for 300-acre scheme.(Property & development news)
May 1, 2005... An indoor winter sports resort in Suffolk is expecting to hear soon from Mid Suffolk District Council whether the proposals will get the go-ahead for work to begin on the 320m [pounds sterling] development. The SnOasis project, based in a...

Starbucks looking for Indian wedding under new chief exec.(Food & drink news)
May 1, 2005... The US coffee-shop behemoth Starbucks announced it was looking for a joint venture partner to enable it to enter into the Indian market, as it named Jim Donald as new chief executive, following the retirement of Orin Smith. Donald has been...

McDonald's set for diet of salads as it celebrates 50th birthday.(Food & drink news)
May 1, 2005... McDonald's, the US fast food group, is set to embark on a corporate gamble as the company aims to reposition itself after 50 years' domination of the fast-food market. Jim Skinner, the new chief executive, is trying to shift responsibility for...

Brent leaves the office of Burger King.(Food & drink news)(Andrew Brent)(Brief Article)
May 1, 2005... Andrew Brent, chief marketing officer at Burger King International, has quit his role at the restaurant chain after less than a year in the job. It is not known whether Brent has a new job to go to after he left the company last month. ...

Peta launches anti-KFC "blitz".(Food & drink news)(People for the Ethical Treatment of Animals)(Brief Article)
May 1, 2005... People for the Ethical Treatment of Animals, the animal rights campaign group, is to resume its boycott of KFC restaurants. Peta will launch an "anti-KFC blitz" during a month of action, including more than 100 protests outside KFC...

Clarity reveals strong trading and a new chairman.(Industry news)(Clarity Commerce)(Brief Article)
May 1, 2005... Clarity Commerce reported trading in line with expectations as the company expands its business into Europe and North America. The firm, which supplies software management solutions for the entertainment, ticketing, hospitality and leisure...

CSR lessons 'can be learned from overseas'.(Industry news)(Corporate social responsibility)(Brief Article)
May 1, 2005... Hotel and leisure bosses should be taking their lead from Asia, India, China and Russia in their approach to Corporate Social Responsibility (CSR), a panel told delegates at last month's International Hotel Investment Forum, in Berlin. ...

OK hospitality groups form new training alliance.(Industry news)(Brief Article)
May 1, 2005... Seven of the hospitality industry's professional craft associations have formed an alliance to be called the Hospitality Skills Academy. The aim of the Academy is to raise the profile of craft training and increase recognition for those...

BHA launches election 'manifesto'.(Industry news)(British Hospitality Association)(Brief Article)
May 1, 2005... The British Hospitality Association has published its general election manifesto, outlining its four key proposals to grow the hospitality sector to 100bn [pounds sterling] in turnover by 2010. The tourism industry has signed up to...

SMEs urged to save on power costs.(Industry news)(Small and medium sized companies)(Brief Article)
May 1, 2005... Powergen, the UK energy firm, said small to medium sized businesses could make substantial savings on energy bills over the summer months, and issued a simple action list. Powergen said forward-thinking businesses could make savings by...

It's the drink talking: PY Gerbeau calls time on binge drinking and asks the industry to take a moment for some sober reflection.(Business Sense--Binge Drinking)
May 1, 2005... A lot of political hype surrounds binge drinking. According to the government, we witness outrageous orgies of drunken debauchery every weekend; the prime minister would have us believe the country is awash with booze. There is clearly a lot of...

Winning pedigree or gone to the dogs? Following Luke Johnson's 50m [pounds sterling] GRA deal, Simon Stephens takes a close look at the greyhound sector.(Sector Update--Greyhounds)
May 1, 2005... Operating a greyhound stadium in the UK has been a tough business for some time, but the industry has been feeling a bit friskier of late. A major reason for this is the direction provided by Lord David Lipsey, who became the chairman of...

Leisure report LR index leisure stockwatch April 2005.(Sharewatch & diary dates)
May 1, 2005... Stanley Leisure led the gainers in April, with shares jumping almost 30% to a record high at 536p, as investors reacted well to its decision to sell its high-street bookmakers estate. William Hill, which is favourite to buy the portfolio, fell...

Diary dates.(Sharewatch & diary dates)(Brief Article)(Calendar)
May 1, 2005... May Event: Golf Seminar--Children and Exercise Date: 5 Location: Glasgow Description: Educational seminar and networking event Contact: Pip Moriarty 0207 202 4707 Event: Systems for Spa Success Date: 14 ...