Leisure Report articles from May 2008

Leisure Report archives from May 2008

Analysts urge punt on 'resilient' gambling firms.
May 1, 2008... The stock market's pricing of gambling stocks has thrown the form book out of the window, and applied too great a weighting to downside risk, overlooking the habitual nature of gambling, its relative resilience, strong cash generation, high...

Don't bank on the latest rescue deal.(Inside track)
May 1, 2008... The leisure sector mirrored the UK financial markets last month when Royal Bank of Scotland stepped in to offer a refinancing deal with struggling bingo operator Top Ten. Top Ten, which is the UK's third-largest operator after Gala and...

AsianLogic forging ahead after posting maiden 210% profits hike.(Breaking news)(Financial report)
May 1, 2008... AsianLogic, the UK-listed, diversified Asia-Pacific online and land-based gaming company, said full-year adjusted pre-tax profit rose 210% on a 95% rise in revenues, and said the progress has continued in the first quarter of the current year....

M&B ready to strike for Georgica?(Breaking news)(Brief article)
May 1, 2008... Mitchells & Butlers, the OK pub group, is considering an approach to Georgica, Britain's biggest tenpin bowling operator, after a takeover of the embattled pub and restaurant group faltered. A memorandum sent to potential buyers of M&B is...

Mystery buyer makes approach for Gaming VC Holdings.(Breaking news)
May 1, 2008... Gaming VC Holdings said it had received a preliminary approach which could lead to an offer being made for the company, as Leisure Report went to press. The company said further announcements would be made when appropriate. The UK-listed...

Lo-Q riding high as queue management popularity grows.(Breaking news)(Brief article)
May 1, 2008... Unveiling preliminary results for the year to 31 December 2008, Lo-Q, the theme park and attractions queue management firm, said a surge in demand for its Q-bot product had helped it post strong results. The company made progress on all...

JJB in fitness focus as retail shops' profits slump.(News: Health & fitness)(Financial report)
May 1, 2008... JJB Sports, the sportswear retailer and leisure centre operator, has released its year-end results for 2007. For the period ending 27 January 2008, the company reported an adjusted operating profit of 34.3m [pounds sterling], down 28.2%...

Lifetime set to aid ex-servicemen into fitness sector.(News: Health & fitness)
May 1, 2008... Armed Forces leavers wishing to move into the leisure sector can now benefit from wider training options, as Lifetime has gained preferred supplier status through the Career Transition Partnership (CTP), a partnering agreement between the...

Westminster backs NSA for London.(News: Health & fitness)
May 1, 2008... Londoners are set to benefit from a state-of-the-art physical activity training centre, following a 1.5m [pounds sterling] investment from Westminster City Council. The cash will go towards the development of a National Skills Academy in Sport...

Refit pays for Time Capsule.(News: Health & fitness)(Brief article)
May 1, 2008... The Time Capsule, a leisure centre in Coatbridge, Lanarkshire has doubled its membership in less than six months following the redevelopment of its health and fitness facilities. The site has seen member numbers rise from 600 to 1,300 after...

ODA launches dispute panel.(News: Sport)(Brief article)
May 1, 2008... The Olympics Delivery Authority (ODA) has established an independent panel to resolve disputes between building contractors and London 2012 in the run up to the London Games. The Independent Dispute Avoidance Panel (IDAP) aims to identify...

Millwall agrees loan deal but major shareholder attempts to lead revolt.(News: Sport)
May 1, 2008... Millwall Holdings, parent company of struggling League One side Millwall FC, said it has agreed an additional loan of up to 3m [pounds sterling], with Chestnut Hill Ventures, further to an original loan agreed between the two firms of 5m...

Boardroom wrangling continues at Southampton.(News: Sport)
May 1, 2008... Southampton Leisure Holdings, the owner of Championship football club Southampton, said it has called for an extraordinary general meeting on 16 May, to consider resolutions to replace the current board. The EGM resolutions call for current...

Birmingham City shares resume trading in wake of corruption probe.(News: Sport)(Brief article)
May 1, 2008... Shares in Birmingham City have resumed trading on AIM following a suspension at the company's request after news last month that the club's co-owner David Sullivan and managing director Karren Brady were questioned by police in connection with...

US Congressmen launch bill to stop implementation of UIGEA.(News: Betting & gaming)
May 1, 2008... Two US Congressmen have introduced a bill to prevent the implementation of the Unlawful Internet Gambling Enforcement Act, as another e-wallet service withdrew its services from US poker players. Congressman Barney Frank, a Democrat from...

Playtech and Betsson sign new licence deal.(News: Betting & gaming)
May 1, 2008... Playtech, the international designer, developer and licensor of software to the online and land-based gaming industry, announced it has signed a new licensing agreement to supply its market leading casino product to Betsson, the publicly-traded...

L&G on track but still below 2007 levels.(News: Betting & gaming)
May 1, 2008... Leisure & Gaming, the listed betting and gaming group, said its first-quarter gross profits declined to Eu2.1m from Eu2.5m a year ago, but added trading in the period was in line with management's expectations. In a trading statement, the...

Struggling Top Ten agrees new debt deal with RBS as its market value falls.(News: Betting & gaming)
May 1, 2008... Top Ten Holdings, the UK's third largest bingo operator with 37 clubs, has signed a new three-year banking facility with the Royal Bank of Scotland (RBS), that "reflects the company's current reduced level of profitability". The agreement...

Spanish deregulation set to bring benefits to leading UK bookmakers.(News: Betting & gaming)
May 1, 2008... In the wake of the relaxation of gaming laws in Spain, Greek operator Intralot said it has been granted a licence to operate sports betting shops in Madrid, although it missed out on a licence to operate in the Basque region, which went to...

Alphameric on track but warns on legal costs.(News: Betting & gaming)
May 1, 2008... Alphameric, the listed group behind Amalgamated Racing, said its first-quarter performance was in line with its expectations, but warned the legal costs associated with the action brought against the company, its Amalgamated Racing (Amrac)...

GEG buys Global Gaming.(Brief article)
May 1, 2008... Global Entertainment Group (GEG) has announced the acquisition of Global Gaming Leisure (GGL) for 2.03m [pounds sterling]. GGL seeks opportunities within the Asian gaming industry. It has interests in one of the VIP Rooms within Wynn Resorts...

Online bingo player numbers increase.
May 1, 2008... UK-based online bingo player portal BingoPort.co.uk has released data indicating that average daily player numbers across all UK-focused online bingo operators had increased by about 19% since September. "The numbers are certainly looking good...

OFT clears Eastwood buy.
May 1, 2008... The UK Office of Fair Trading has cleared the acquisition of Eastwood Bookmakers by Ladbrokes. On 7 February, Ladbrokes said it had bought Eastwood Bookmakers, the Northern Irish bookmaker, for 117.5m [pounds sterling]

Struggling Neville Porter shares are suspended.
May 1, 2008... Neville Porter, the boommaker, said it has requested the suspension of trading of its shares on AIM with immediate effect pending further clarification of the company's financial position and following continued poor trading conditions. The...

MAMA continues on acquisition trail with Angel Music purchase.(News: Cinema & entertainments)
May 1, 2008... MAMA Group, the listed operator of live-music venues and festivals, has acquired Angel Music Group (AMG) in a 2.65m [pounds sterling] cash-and-paper deal. AMG is the parent company of a number of wholly owned subsidiaries and a substantial...

AMF Bowling strikes with energy savings.(News: Cinema & entertainments)
May 1, 2008... AMF Bowling, one of the largest operators of tenpin bowling centres in the UK, has recuited IMServ, the energy data management specialist, to reduce the organisation's energy usage at its 33 bowling complexes and head office, to both increase...

Luminar sells 26 non-core units for 5 [pounds sterling].(News: Cinema & entertainments)(Brief article)
May 1, 2008... Luminar, Britain's biggest nightclub group, has announced the disposal of a swathe non-core units to Cavendish Bars Limited. The late-night operator has shorn itself of 26 nightclubs, which last year produced pre-tax losses of 1.5m [pounds...

Final whistle blown at Sports Cafe.(News: Cinema & entertainments)
May 1, 2008... Sports Cafe said five of its eight venues, in London, Leeds, Birmingham, Newcastle and Glasgow, have been sold to Agilo. The remaining three venues, in Manchester, Liverpool and Bristol have ceased trading and as a result Sports Cafe no longer...

Cineworld scraps Wood Green buy.(News: Cinema & entertainments)(Brief article)
May 1, 2008... The Competition Commission said it has received assurances from Cineworld Group that its planned acquisition of the cinema business at the Hollywood Green Leisure Park, Wood Green has been abandoned. Therefore a competition inquiry, which...

Former CEO Parr buys Pontins for 46m [pounds sterling].(News: Tourism & attractions)
May 1, 2008... Pontin's, the UK holiday operator, has been acquired by a company headed by Graham Parr, a former chief executive of the group, for 46m [pounds sterling] from entrepreneur Trevor Hemmings, the owner of Blackpool Tower, who bought it from...

'African' safari lodge opens in Kent theme park.(News: Tourism & attractions)
May 1, 2008... Europe's first overnight safari lodge has opened at Port Lympne Wild Animal Park, in Kent, where visitors can enjoy an 'Out of Africa' experience with an overnight stay at Livingstone Safari Lodge which opens at the park on 30 April, until the...

Candover misses Bourne ultimatum.(News: Tourism & attractions)(Brief article)
May 1, 2008... The proposed deal by private equity group Candover to acquire Bourne Leisure has fallen through. Candover had asked the European Commission to approve its proposal to buy the leisure comglomerate, which owns of Butlins, Haven and Warner...

'Leap' in visits to London.(News: Tourism & attractions)(Brief article)
May 1, 2008... New figures from Visit London show visits to museums, galleries and other attractions in the capital grew in February. Warm weather and an extra opening day due to the leap year boosted visitor numbers by 7.3% compared to the same month last...

Highland Centre's digital deal.(News: Tourism & attractions)
May 1, 2008... Digital Visitor, the online marketing group which specialises in the conference, leisure and tourism market, has signed a 12-month partnership agreement with The Royal Highland Centre (RHC). Digital Visitor offers high quality video...

BK eyes casino concept.
May 1, 2008... Burger King plans to launch a new downsized restaurant concept called the Whopper Bar, where burgers would be made in front of customers to their own taste. The company said that it would unveil the plans, which are still in the conceptual...

Starbucks trials first ever UK drive-thru site.
May 1, 2008... Starbucks Coffee Company UK has confirmed it is to pilot its first UK "drive-thru" coffee house, in Cardiff, this month. If successful it is thought that the company will seek other locations on major arterial roads around the UK. Phil Broad,...

500m [pounds sterling] Welcome Break sold.
May 1, 2008... Appia, a consortium of infrastructure investors led by Dutch bank NIBC, has bought Welcome Break, the UK's second-largest motorway services operator, from Investcorp. The terms of the deal have not been disclosed but the price is understood to...

F&B may miss Olympic benefits.(News: Food & drink)(Brief article)
May 1, 2008... The catering and hotel sector is failing to take advantage of the business opportunities generated by the 2012 Olympics, with 66% of firms reporting that they have not yet looked into the potential of the Games, according to new research. ...

Costa to use 100% Rainforest Alliance coffee.(News: Food & drink)
May 1, 2008... Costa Coffee will become the first UK coffee chain to source its entire coffee supply from Rainforest Alliance certified farms, a move which it expects to complete by 2010. David Hutchinson, marketing director, announced Costa's plan to...

Yo Sushi offers diners DS consoles.(News: Food & drink)
May 1, 2008... Food at Yo Sushi's Poland Street and Farringdon Road outlets will now be served with a technological extra: a Nintendo DS gaming console. For the duration of their meals, diners will be offered the Nintendo consoles preloaded with 'Cooking...

Coffee Nation sold for 25m [pounds sterling].(News: Food & drink)(Brief article)
May 1, 2008... Coffee Nation, the premium roadside coffee machine brand, has been sold to Milestone Capital in a deal worth 25m [pounds sterling]. The sale by Primary Capital comes eight years after the group acquired the business for 4m [pounds sterling]....

Coffee Republic in free Wi-Fi offer.(News: Food & drink)
May 1, 2008... Coffee Republic will become the first UK coffee chain to rollout free Wi-Fi access across its estate. The company will launch the free of charge internet service from 1 May at the majority of its outlets in the UK. The group said that...

2012 Olympics 'bringing benefits to local area'.(News: Property & development)(Brief article)
May 1, 2008... With firm evidence of real progress being made on the Olympic Park during the second half of 2007, there finally seems to be some evidence of spin-off benefits to the adjacent boroughs and local communities, according to Colliers CRE's East...

More than 100 construction firms accused of bid rigging by OFT.(News: Property & development)
May 1, 2008... Local authorities may have overpaid billions of pounds for building contracts, the Office of Fair Trading has warned, as it accused 112 construction companies of bid-rigging. Following a three-year investigation, the companies have been...

Intrinsic gets Edge in leisure property market.(News: Property & development)
May 1, 2008... Intrinsic, the West-End based property consultancy, has merged with Edge Commercial as part of its strategic move to create a leading firm of leisure property specialists. Edge Commercial was established in 2003, and has specialised in the...

Marina expands.(News: Property & development)(Brief article)
May 1, 2008... Ipswich Haven Marina, has completed its latest expansion project with the addition of 20 new berths to meet customer demand. Following an investment of over 200,000 [pounds sterling], work was recently completed on the award-winning marina,...

Business failure rate soars as credit crunch starts to claim victims.(News: Industry)
May 1, 2008... The Equifax Business Failures Report for the first quarter of 2008 has revealed an increase in business failures across all sectors and regions. Total failures rose by 9.1% compared to the same period last year, with only the manufacturing...

Private equity market to slow.(News: Industry)
May 1, 2008... The private equity industry is heading for tougher times, according to a survey of business leaders conducted by McKinney Rogers, the consultancy. The credit squeeze is cited as the chief cause, with 71% of respondents believing it will...

Effective marketing crucial to ride out downturn.(News: Industry)(Industry overview)
May 1, 2008... Over two-thirds (72%) of small and medium-sized enterprises (SMEs) are now expecting a recession. However, under a third (28%) have rewritten or adapted their marketing plan to prepare for it, according to research from marketing company...

Dream of Californication: Southern California's winemakers have some lessons to teach the UK fitness industry about customer management.(Insight)(Industry overview)
May 1, 2008... The global news media is full woeful economic news--yet two conventions in California belie the latest reports of financial apocalypse. Although almost 1,000 miles apart, the International Health, Racquet & Sportsclub Association's (IHRSA)...

Take me to your leaders: Neale Jackson, from Capitis Partners the sector-specialist search consultancy, poses the question: where are our future leaders going to emerge from, if not from within the sector?(Insight: The war for talent)
May 1, 2008... One of the biggest shifts that we as headhunters in the leisure and hospitality sectors are currently facing is to try and understand where the leaders of tomorrow are going to come from. The 'War for Talent' across all sectors has been...

Interest for energy savers: Liz Graham investigates plans to extend the Merton Rule, which demands that new developments must generate a percentage of their own energy on site.(Legal: Merton rule)
May 1, 2008... At the end of 2007 a group of cross party MPs introduced a Private Member's Bill to Parliament seeking to reinforce the "Merton Rule" in an Act of Parliament. This Bill passed its second reading on the 25 January, although whether or not the...

UK private health clubs: evolution: Ray Algar's timeline provides an instantly-accessible guide to the emergence of the UK private health club market, illustrating the key changes that have shaped today's marketplace.(Insight: UK fitness timeline)(Industry overview)
May 1, 2008... This is a visual story that describes how the UK private health club industry has flourished from a few standalone operations in the early eighties, into the 2.5bn[pounds sterling], 3,117-club, calorie-crushing phenomenon that we know today....

Glastonbury: a 73m [pounds sterling] benefit gig: new research has cleared up some of the muddier financial aspects of the UK's leading music festival, and illustrated the economic benefit the event brings to the area.(Insight: Glastonbury festival)
May 1, 2008... The Glastonbury Festival is renowned the world over the UK's leading musical event, with more than 177,000 revellers attending last year's somewhat weather-affected extravaganza, but until recently the true economic value of this festival has...

Footprint binding: Tim Helliwell, head of hotel finance, Barclays Commercial Bank, investigates methods by which the hospitality sector can cut its Bulgaria-sized emissions.(Insight: 'Green' hospitality)
May 1, 2008... A small sign on bathroom mirrors requesting hotel guests to reuse their towels, and, as a result, to save water through a cut down in the number of machine washes, is what most people probably think of on the topic of British hotels and energy...

Gala Coral clears debt hurdle: a refinancing at Gala Coral will leave the group free to explore expansion, while it keeps one eye on a deal to buy the Tote.(Insight: Behind the headlines)
May 1, 2008... John Kelly and Neil Goulden, respectively chairman and chief executive of Gala Coral, have been around the gambling industry too long to be surprised by the sudden change in the company's fortunes over the past year. Every time they spun the...

LR index leisure stockwatch April 2008.(Sharewatch)
May 1, 2008... Finally, some positive swing across the listed leisure sector, as the markets seem to have, at least for now, finished down-rating. According to some commentators, the worst of the downswing is over, and certainly the Bank of England's decision...

Rank Group.(People on the move)
May 1, 2008... Rank Group, the bingo and casino operator, has appointed Paddy Gallagher as its finance director, effective 2 June, replacing Peter Gill who will remain with the group until then. Gallagher is currently chief financial officer at Quadriga...

Vision XS.(People on the move)(Brief article)
May 1, 2008... Attractions industry consultant Martin Barratt has joined UK group Vision XS as a director, in a move that adds more knowledge and experience to the rapidly-growing organisation. Barratt became an independent consultant in 2004 after over 20...

IHRSA.(People on the move)(Kilian Fisher has been appointed as a Board of Directors )(Brief article)
May 1, 2008... Kilian Fisher, chief executive of ILAM, the Irish Industry Body for Sports, Fitness, Aquatic Facilities, Spa & Wellness, has been named a member of the IHRSA Board of Directors for the term beginning 1 July 2008 and running through 2010. ...

Gladstone.(People on the move)
May 1, 2008... Gladstone, the Aim-listed provider of software solutions and services to the leisure and education markets, has strengthened its management team through a number of senior appointments. Peter Doyle becomes head of marketing, and Deanna...

Lifetime.(People on the move)(Brief article)
May 1, 2008... A new role dedicated to quality assurance has been created at Lifetime, the training provider. Katrina Hall has joined the company as quality improvement manager and will be responsible for ensuring the quality of training meets the...

The Club Company.(People on the move)(The Club Company has appointed Mark Law as general manager )(Brief article)
May 1, 2008... The Club Company has made a number of new appointments to the management team at The Tytherington Club. Mark Law leads the team as the new general manager of the golf and country club after previously holding a similar position at Esporta's...

Diary dates: April/May.(Calendar)
May 1, 2008... April Event: Dubai Entertainment Amusement and Leisure Show 2008 Date: 20-22 Location: Dubai World Trade Centre, UAE Description: Trade event for the entertainment, amusement and leisure sectors in the Middle East ...