Leisure Report articles from November 2003

Leisure Report archives from November 2003

Jowell unveils Draft Gambling Bill.
November 1, 2003... Tessa Jowell, the culture secretary, unveiled the long-awaited Draft Gambling Bill, today (19 November). She said: "Our gambling laws date back to the 1960s and have failed to keep pace with rapid technological change. Attitudes to...

Isle of Capri Casinos plans 500m [pounds sterling] UK investment.(developing eight casinos in UK)(Brief Article)
November 1, 2003... Isle of Capri Casinos, the gaming operator from the United States, plans to spend around 500m [pounds sterling] on developing up to eight casino complexes in the United Kingdom, subject to deregulation. The firm, which has already announced...

Government gives mixed messages to industry.(Inside track)
November 1, 2003... The publication of the Draft Gambling Bill is good news indeed. The government's attitude towards changing the archaic laws that currently stifle development of betting and gaming and limit consumer choice, is beginning to look more positive...

Odeon faces another change in ownership.(News)(Brief Article)
November 1, 2003... Odeon, the largest operator of cinemas in the United Kingdom, could be facing another shake-up in its ownership structure after it emerged that West LB, the German bank which led the 431m [pounds sterling] purchase from Cinven, the venture...

Wembley issues warning after losing VLT vote.(News)
November 1, 2003... Wembley was putting on a brave face after a trading update revealed a number of factors that will hit profits this year, including the vote against allowing the addition of video lottery terminals to racetracks in Colorado, the strengthening of...

Veteran driver bids for Brands Hatch.(News)(Brief Article)
November 1, 2003... Trevor Baines, a veteran racing driver, has teamed up with Sunley, the property group, to table a bid understood to be in the region of 70m [pounds sterling] for the racetracks put up for sale by Octagon Motor Sports. Baines and Sunley's...

Survey to measure acquisition plans.(News)
November 1, 2003... Leisure Report and Livingstone Guarantee, the corporate finance boutique, are conducting a survey to assess the leisure industry's appetite for acquisition. The study of leisure operators, owners, developers and financiers, will look at...

Thurso takes FIA chair.(News; John Thurso non-executive chair for Fitness Industry Association )(Brief Article)
November 1, 2003... The Fitness Industry Association used its recent annual event at the House of Commons to announce a number of changes to its structure including the appointment of John Thurso MP as non-executive chair. Thurso is the former managing...

DLL results exceed targets for tenth time.(Health & fitness news; David Lloyd Leisure PLC)
November 1, 2003... David Lloyd Leisure's like-for-like sales growth was in excess of Whitbread's 5% target for the tenth reporting period in a row. In the six months to 30 August, l-f-l sales for the health club business were 6.6% ahead of the same time last...

Greens repositions brand.(Health & fitness news; Greens Health and Fitness)(Brief Article)
November 1, 2003... Greens Health & Fitness, the De Vere Group-owned chain of 15 health clubs, has unveiled details of the planned repositioning of its brand. The firm has invested a "substantial amount" in researching what members of its clubs and of...

Holmes Place strengthens board.(Health & fitness news; Holmes Place PLC hires Archie Norman)(Brief Article)
November 1, 2003... Holmes Place has appointed Archie Norman, former chief executive of Asda, and Gerald Corbett, current chairman of Woolworths, to its board as non-executive directors. Norman is now a Tory MP and chairman of Energis. Ian Burke, the...

SpringHealth to focus on London business after northern sale.(Health & fitness news; SpringHealth Leisure PLC)(Brief Article)
November 1, 2003... The 4m [pounds sterling] sale of SpringHealth Leisure's seven clubs in the north of England will enable it to concentrate on improving trading at its more profitable clubs in and around London. Eric Lowry, the chief executive officer of the...

London's Olympic bid gathers momentum.(Sport news)(Brief Article)
November 1, 2003... The consortium behind London's bid to host the Olympics in 2012 unveiled plans to locate an 80,000-seat stadium and to host 14 of the 35 Olympic sports in a 1,500-acre site in the Lower Lea Valley. London 2012's new chief executive, Keith...

Spurs nets 7.1m [pounds sterling] pre-tax losses.(Sport news; Tottenham Hotspur PLC)(Brief Article)
November 1, 2003... Tottenham Hotspur recorded a pre-tax loss of 7.1m [pounds sterling] in the year to 30 June, without taking into account the 11.5m [pounds sterling] spent on new strikers over the summer. The club was 900,000 [pounds sterling] in profit over the...

Northern arena plans progress.(Sport news)(Manchester Evening News Arena)(Brief Article)
November 1, 2003... Europe's largest indoor arena, the Manchester Evening News Arena, could have a new owner next month and a shortlist of bidders has been announced to develop and run the proposed 85m [pounds sterling] King's Dock in Liverpool. For the...

Football's worst results pored by Leeds United.(Sport news)(Brief Article)
November 1, 2003... Struggling on and off the field, Leeds United reported an annual pre-tax loss of 49.5m [pounds sterling]--the worst figures ever recorded by a British football team. In its results for the year to 30 June, the club admitted turnover...

20m [pounds sterling] hit for Sunderland as it bears the cost of relegation.(Sport news; Sunderland Football Club)(Brief Article)
November 1, 2003... Sunderland FC revealed a pre-tax loss of 20.6m [pounds sterling] for the year to 31 July, almost 10 times the amount lost the year before (2.8m [pounds sterling]) as the club's unsuccessful attempt to avoid relegation took its toll. On...

Bendinat buys London Golf Club.(Sport news; Bendinat Group acquires London Golf Club )(Brief Article)
November 1, 2003... Bendinat Group, the Spanish-based resort and golf course operator, bought the London Golf Club for an undisclosed sum thought to be in the region of 8m [pounds sterling]. The club, located near Brands Hatch, was built by Japanese investors...

BskyB snatches European Cup rugby.(Sport news; British Sky Broadcasting Group PLC. Sky Sports wins broadcast rights to European Rugby Cup )(Brief Article)
November 1, 2003... Sky Sports pulled off another broadcasting coup, snatching the rights to broadcast next year's Heineken European Rugby Cup from under the nose of the BBC, in a last-minute deal worth some 20m [pounds sterling]. The BBC had been in...

Blue Chip plans themed casino chain with Isle of Capri.(Betting & gaming news; Blue Chip Casinos; Isle of Capri Casinos )
November 1, 2003... Blue Chip Casinos has unveiled plans for a chain of themed casinos across the United Kingdom. The details came as Isle of Capri Casinos became the first American gaming company to get Gaming Board approval to own UK casinos, through its 5m...

Stanley Leisure court ruling opens doors for European betting.(Betting & gaming news)
November 1, 2003... A European Court of Justice ruling over Stanley Leisure's Italian betting operation could pave the way for operators in the United Kingdom to expand further into Europe. The ECJ decided that the Italian government could not ban foreign...

Coral scoops Akins betting shop chain.(Betting & gaming news; Coral Eurobet acquires George Akins' chain of betting shops)(Brief Article)
November 1, 2003... Coral Eurobet, the third largest operator of licensed betting offices in the United Kingdom, bought George Akins' betting shop chain, for a sum believed to be about 14m [pounds sterling]. The purchase of the 47 shops across Nottinghamshire...

Bingo vows to continue tax campaign.(Betting & gaming news; Reformed Bingo Duty introduced; taxes on bingo greater than on other forms of gambling)(Brief Article)
November 1, 2003... The Reformed Bingo Duty was introduced late last month, with the industry vowing to continue lobbying government to ensure that its taxation levels are brought into line with other forms of gambling. The association has been campaigning for...

MGM Mirage and Olympia announce joint venture.(Betting & gaming news)
November 1, 2003... MGM Mirage and Earls Court and Olympia Group announced a joint venture development agreement that could turn the Olympia Exhibition Centre in London into a new gaming and entertainment complex. Under plans contingent on the government's...

Harrah's Entertainment eyes Glasgow site for casino development.(Betting & gaming news)(Brief Article)
November 1, 2003... Harrah Entertainment, the casino operator from the United States, is believed to have struck a deal giving it the option to develop a 100,000 square foot resort casino in Glasgow. The firm is reported to have signed an agreement with...

IGH to float on AIM.(Betting & gaming news)(Interactive Gaming Holdings )(Brief Article)
November 1, 2003... Interactive Gaming Holdings is due to float on the Alternative Investment Market later this month. The firm, which has been set up to acquire either the majority or total ownership of content portals and other related e-gaming sites, hopes...

Sportingbet hit by payment processing.(Betting & gaming news; Sportingbet PLC)(Brief Article)
November 1, 2003... Half-year results for Sportingbet, the online sports betting company, were affected by payment processing difficulties and unfavourable sporting results, despite each region of the group achieving profitability at operating level for the first...

Park Place move awaited.(Betting & gaming news; Park Place Entertainment Corp.)(Brief Article)
November 1, 2003... Speculation is mounting over Park Place Entertainment's plans for the United Kingdom. Industry insiders believe the firm, the world's largest casino operator by revenue, could tie up with Hilton Group. In the United States, Park Place,...

Top Ten unveils doubled pre-tax profits.(Betting & gaming news; Top Ten Holdings)(Brief Article)
November 1, 2003... Top Ten Holdings, the third largest operator of bingo clubs in the United Kingdom, reported that pre-tax profits almost doubled in the six mouths to 28 September. The company, which recently acquired eight bingo sites and four amusement...

In-game betting added to mobile telephone services.(Betting & gaming news)(Brief Article)
November 1, 2003... Ukbetting, the Alternative Investment Market-listed digital wagering operator, is rolling out a live in-game betting capability across its mobile phone services. The WAP-based facility went live in time for the Rugby World Cup and includes...

Rank sells leisure machines arm.(Betting & gaming news)(Brief Article)
November 1, 2003... Rank Group has agreed to sell the combined businesses, assets and liabilities of Rank Leisure Machine Services Limited and Rank Seasonal Amusements Limited to Gamestec for a total of 30m [pounds sterling] in cash. The transaction, which is...

Scott to chair William Hill.(Betting & gaming news)(Brief Article)
November 1, 2003... Charles Scott, the former chairman of Saatchi & Saatchi, the advertising agency, will become non-executive chairman of William Hill, from January. Scott is already the senior non-executive director of the betting shop business, and will...

Luminar to end unbranded dance venues.(Cinema & entertainment news)(Brief Article)
November 1, 2003... Luminar, the country's biggest late-night bar and nightclub operator, is to sell 63 of its unbranded dancing venues and brand the rest under one of four different formats. The action will cost the firm 60m [pounds sterling] in asset...

Georgica reveals plans to improve profits.(Cinema & entertainment news)
November 1, 2003... Georgica, the tenpin to cue sports group, unveiled details of a number of initiatives to boost profitability at the 50-strong Megabowl chain, after it took full control of the business. Now Georgica has bought the remaining 50% share of the...

London Plan 'should recognise cinema's role'.(Cinema & entertainment news)(Brief Article)
November 1, 2003... The London Assembly's Culture, Sport and Tourism Committee has published a report recommending that the Mayor's London Plan should address gaps in cinema provision. The committee carded out a study into cinema in the capital due to...

EasyCinema adds internet cafe'.(Cinema & entertainment news)(EasyCinema)(Brief Article)
November 1, 2003... EasyCinema, the low-cost multiplex in Milton Keynes, has added an easy Internetcafe to its foyer. The cafe holds 12 computer terminals and will complement the four existing computer terminals at the cinema where cinemagoers who have not...

Ultimate eyes Irish expansion.(Cinema & entertainment news)(Brief Article)
November 1, 2003... Ultimate Leisure is planning to expand its chains of late-night bars into provincial towns in the Republic of Ireland, according to City analysts. The Bambu Beach bar that opened in Belfast in April is trading ahead of schedule, as are...

Leading attractions groups move closer to secondary buyout deals with PE firms.(Tourism & development news)(Brief Article)
November 1, 2003... Merlin Entertainments Group and The Tussauds Group, the two largest tourist attraction operators in the United Kingdom, are both moving closer to secondary buyouts by private equity firms. Merlin has now appointed Hawkpoint, the corporate...

Return of American tourists raises September figures.(Tourism & development news)(Brief Article)
November 1, 2003... September saw a welcome return of American tourists to the United Kingdom, according to figures from VisitBritain. The latest inbound tourism report showed a 14% year-on-year increase in visitors from North America this September, which...

Industry set for recovery, says poll.(Tourism & development news)(European Hotel Investment Conference)(Brief Article)
November 1, 2003... The hotel industry has reached the bottom of its cycle, with market conditions set to improve, according to experts speaking at the Annual European Hotel Investment Conference, hosted by Deloitte. The conclusion was drawn from a...

London hotels show encouraging revpar growth.(Tourism & development news)(Brief Article)
November 1, 2003... Hotels in London reported their first revpar growth since January in September, according to Tri Hospitality. Revpar in the capital rose by 0.5% year-on-year to 69.54 [pounds sterling], the result of a 1.6 percentage-point rise in occupancy...

Center Parcs deal imminent.(Tourism & development news)(Brief Article)
November 1, 2003... A consortium of fund managers is now the leading contender to buy the management business of Center Parcs UK, which was put up for sale last month with a 300m [pounds sterling] price tag. The group, led by stock-broker Collins Stewart, is...

Leisure core to 800m [pounds sterling] Ravenscraig plans.(Property & development news)(Ravenscraig Partnership)(Scottish Enterprise Lanarkshire)(Brief Article)
November 1, 2003... Plans for a 10,000.seat sports and entertainment arena are at the heart of a proposed 800m [pounds sterling] development for the former Ravenscraig steel works, near Glasgow. The Ravenscraig Partnership, which comprises developer Wilson...

1bn [pounds sterling] development for Wembley.(Property & development news)(Brief Article)
November 1, 2003... Quintain Estates & Development's proposed 1bn [pounds sterling] regeneration of the 56-acre area surrounding the Wembley National Stadium took a step forward when the company submitted its outline planning application for the scheme. ...

Firms vie for Leisure Property Awards.(Property & development news)(Leisure Property Awards )
November 1, 2003... The shortlist for the sixth annual Leisure Property Awards has been unveiled with more than 70 companies and individuals vying for prizes. An academy of 50 individuals from the industry is judging the Leisure Academy categories, with...

Battersea scheme signs hotelier.(Property & development news)(Brief Article)
November 1, 2003... Hyatt Hotels & Resorts is hoping to open a hotel in the Battersea Power Station development after signing a 'technical agreement' with the developer, Parkview International. The five-star flagship property will be Hyatt's second site in...

O'Brien's looks to boost UK expansion.(Eating & drinking news)(O'Brien's)(Brief Article)
November 1, 2003... O'Brien's, the Dublin-based sandwich bar group, is looking for more franchisees in London and the South East to help it achieve a target of 400 to 500 outlets in the United Kingdom. The company said it could also buy outlets to run itself...

Former Forte UK hotels exec to roll out sandwich bars.(Eating & drinking news)(GJ's)(Brief Article)
November 1, 2003... A former Forte UK Hotels board member is starting an American style takeaway fast-food business he hopes to build up to at least 20 stores in the North of England and Scotland. The first outlet for Guy Walton's planned chain, GJ's, a...

Republic Deli looks for 2.5m [pounds sterling].(Eating & drinking news)(Brief Article)
November 1, 2003... Coffee Republic has announced plans to raise 2.5m [pounds sterling] through a share placing and open offer to fund the roll out of the company's new deli concept. The company plans to save money rolling out the new concept by refurbishing...

Pret plans cafe concept chain.(Eating & drinking news)(Brief Article)
November 1, 2003... Julian Metcalfe wants to open between 200 and 300 Pret Cafes across Britain. Full details of the new format have not been finalised, but the cafes will have soft seating and lighting and will stay open until 6pm. The plans follow...

Permira to spin off Little Chef.(Eating & drinking news)(Brief Article)
November 1, 2003... The budget hotel group Travelodge is to spin off its Little Chef roadside restaurant chain. The chain is owned by the private equity firm Permira, which spent 712m [pounds sterling] acquiring the two businesses last year from catering...

McDonald's continues recovery.(Eating & drinking news)(Brief Article)
November 1, 2003... McDonald's reported an 11% year-on-year increase in third quarter sales, although sales in Europe saw a 0.1% fall. The company credited the rise to its new menu, in particular the salads and breakfasts. Total revenue rose to $4.5bn...

La Tasca opens abroad.(Eating & drinking news)(La Tasca)(Customer Service Business of the Year)(Brief Article)
November 1, 2003... La Tasca has opened its first overseas site, in Washington DC. James Horler, the company's chief executive, said the United States was the best restaurant market in the world and would give the company the chance to hone and test the brand....

Starbucks makes strong start.(Eating & drinking news)(Brief Article)
November 1, 2003... Starbucks has begun its new fiscal year with a 30% year-on-year increase in consolidated net revenues to $363m (216m [pounds sterling]). The company reported 9% year-on-year growth in same store sales for the four-week period ended 26...

Business organisations and Conservatives unite in fight against Stamp Duty changes.(Industry news)(Association of Licensed Multiple Retailers)(British Beer and Pub Association)(Confederation for British Industry)(Federation of Small Businesses)(British Property Federation)
November 1, 2003... Seven major business organisations representing leisure and retail are taking the unusual step of submitting a joint letter with the Conservative Party to urge Chancellor Gordon Brown to delay and review changes to the Stamp Duty Land Tax, due...

A brighter future for UK betting and gaming.(Industry news)
November 1, 2003... The UK betting & gaming industry is preparing itself for new legislation and deregulation that could give it greater freedoms than ever before. The new gambling legislation will, in principle, bring many new opportunities, but what exactly are...

Parker to chair BHA.(Industry news)(Brief Article)
November 1, 2003... Alan Parker, managing director of the Whitbread Hotel Company, has been elected chairman of the British Hospitality Association. He will succeed Paul Dermody, the former chief executive of De Vere Hotels. Parker said the BHA, which was set...

Money comes to money: Mel Flaherty looks into a study which shows that new gambling legislation could boost tourism income.(Research--impact of gambling deregulation)
November 1, 2003... Tourism could be the biggest winner if the proposed new gambling legislation goes ahead, according to a new report. The Gambling Deregulation Impact Study is an independent report compiled by Pion Economics with Professor Neville Topham, on...

Slots of education: after a week in the company of global casino executives Marc W Etches asks 'where were the British?'.(Personal view--overseas firms and UK gaming)
November 1, 2003... Lake Tahoe is heavenly according to the residents and businesses that are keen to promote their corner of Nevada to those seeking a few days away from the stresses of every day life. Taking a cable car ride up to the 9,000 foot peak that...

Raising the stakes: Jack Gallaway's mission is to bring 'IsleStyle' to UK gaming. He tells Mel Flaherty about his plans.(Profile)
November 1, 2003... Jack Gallaway is not a gambler. His motto is 'If you haven't lost it or doubled it in the first ten minutes, go to the bar'. Happily, this is not his approach to business. Gallaway has retired from his position as president and chief...

Wembley faces uncertain future: can Wembley survive its current trial-by-media?(Behind the headlines)
November 1, 2003... When Wembley sold off the famous sports stadium and surrounding conference and entertainment facilities in North London, the company's future looked altogether more secure. Freed from the burden of having to redevelop the Wembley complex and...

Talented, dedicated and frustrated: Alessandra Alonso says companies that do not develop their female employees are losing out.(Business sense--professional development for women)
November 1, 2003... Hands up those of you who, like me, think that it is still challenging for females in the leisure and hospitality sectors to climb the career ladder. I can imagine many hands held up high out there: from researching the subject over the...

Leisure Report LR Index leisure stockwatch November 2003.(Sharewatch & diary dates)
November 1, 2003... This month's table shows leisure stocks broadly moving in the right direction, with the average share price up 6.2% to 136.94p. Coffee Republic saw the biggest drop, despite announcing plans to raise funds to roll out its Republic Deli format...

Diary dates.(Sharewatch & diary dates)(Brief Article)(Calendar)
November 1, 2003... November Event Hotel Report Awards 2003 Date 24 Location The Landmark Hotel, London Description Martin Info's inaugural celebration of the best companies, individuals and initiatives in the UK and European hotel market. ...