Leisure Report articles from November 2008

Leisure Report archives from November 2008

Refinancing pressures cast shadow over leading bookies.
November 1, 2008... The UK's leading bookmakers, Ladbrokes and William Hill, are over-geared and may be forced to issue equity to refinance debts in the next few years, according to Morgan Stanley. The investment bank warned that William Hill (WMH) in...

Are we making this crisis a drama?(Inside track)(Editorial)
November 1, 2008... Not long ago I sat down with a list of about 150 nominations for this year's Leisure Report Awards. My goals was to whittle these down to a shortlist of about five finalists in each category, and it was with some trepidation that I approached...

Trade 'solid' as William Hill signs with Playtech.(Breaking news)
November 1, 2008... Updating the stock market on trading for the 15 weeks ended 14 October 2008, William Hill (WMH), the UK bookmaker, said total gross win across its business increased by 9%, representing "a good performance albeit against weak comparatives in...

Arena shares suffer as attendances drop at its racecourses.(Breaking news)
November 1, 2008... Shares in Arena Leisure, the UK's largest operator of horseracing fixtures, slumped by more than 20% after the firm warned that results for 2008 would be "significantly below" current market expectations after a sharp fall in attendances at its...

Boost for Rank as trading starts to rally.(Breaking news)(Rank Group PLC)(Financial report)
November 1, 2008... Following a sustained period of very difficult trading, The Rank Group (Rank) said it had seen a "much stronger relative performance" in recent weeks. Announcing trading results for the 41 weeks to 12 October 2008, Rank said that, on a...

Webis sees performance beat expectations.(Breaking news)
November 1, 2008... Webis Holdings, the global online gaming group, said trading in the first quarter had "significantly" outstripped internal expectations, as it unveiled a 33% rise in full-year ebitda. For the 52 weeks to 25 May 2008, ebitda rose to 215,000...

Paddy Power pays punters on Obama win.(Breaking news)(Brief article)
November 1, 2008... Following the recent final US presidential debate, Ireland's largest bookmaker, Paddy Power, has decided to pay out on Barack Obama becoming the forty-fourth President of the United States of America. The unprecedented move came almost...

JJB faces struggle for survival.(Breaking news)
November 1, 2008... Sports retailer and fitness club operator JJB Sports has appointed David Jones, the former head of Next, to the role of deputy chairman, as it faces a struggle to stay in business. Accountants KPMG have been enlisted to negotiate with JJB's...

Moulton warns of 'serious recession' ahead.(Industry News)
November 1, 2008... Private equity boss don Moulton, whose Alchemy Partners group owns leisure firms including managed pub-cos Inventive Leisure and Tattershall Castle Group, has warned leisure operators to batten down the hatches in the face of a "serious...

80% of listed firms to restructure as fiscal crisis deepens, study finds.(Industry News)(Brief article)
November 1, 2008... A study by strategy consultants Roland Berger has reveals that 81% of Western European firms plan major operational and structural change because of the ongoing economic difficulties. The research found that business leaders are downbeat...

BoS to pull aAIM funding?(Industry News)
November 1, 2008... Bank of Scotland Corporate is reportedly to withdraw its 200m [pounds sterling] funding facility from its joint venture with property investor aAim Group. It is thought that the bank decided to terminate its 200m [pounds sterling] debt and...

Bank rates cut as Europeans present united front.(Industry News)
November 1, 2008... The Bank of England last month announced a 0.5% interest rate cut, as part of a co-ordinated move with a number of Western economies that also saw interest rates also cut in America and across Europe. The Bank's Monetary Policy Committee...

Service sector growth stalls.(Industry News)
November 1, 2008... The service sector failed to grow for the first time in six years in the three months to July, with hotels, restaurants and pubs the worst hit. The latest Office for National Statistics (ONS) figures found that service sector output...

Vital statistics: the Fitness Market Monitor is set to transform the way the industry collects and uses its membership data. David Minton looks at the benefits it will bring.(Insight)
November 1, 2008... In September 2005 I began my column in Leisure Report with the now-fabled comment that: "If we worked in the pornography industry we would all know what a 'member' is but because we work in the fitness industry, there's no hard and fast rule,...

Scotland braving the trend? Timothy M. Pitt reports from Scotland, where the money from the North Sea oil fields is helping to keep the country's hotels operating above the levels of their southern counterparts.(Insight: Scotland's economy)
November 1, 2008... The economic slowdown, the beginning of a recession and, of course, the Credit Crunch. Currently it seems impossible to avoid these terms due to the daily news reports. So much so that Credit Crunch has even been entered into the...

2012--marathon or sprint? In the second part of a series, Ray Algar looks at the ambitious plans for an Olympic 'legacy' and asks how far along we are on the road to success.(Insight: Olympic legacy)
November 1, 2008... In the first article in this two-part series (2012--After the golden show, Leisure Report, October 2008), I discussed the size of the ambition that organisers and stakeholders have set for London 2012. London aspires to go far beyond any...

Better out than in: CMS Cameron McKenna's Sarah Ozanne and Louise Wallace investigate the National Staff Dismissal Register, which allows companies to vet potential employees' honesty.(Legal: Staff dismissals)
November 1, 2008... The National Staff Dismissal Register (NSDR) is an initiative operated by Action Against Business Crime (AABC),the national organisation for Business Crime Reduction Partnerships. NSDR went live in May this year and is a register of persons who...

New angle on social drinking: the DoH is looking at the causes of excessive drinking, as research suggests friendshave a bigger influence than price and availability.(Insight: Binge drinking)
November 1, 2008... The most ludicrous story seen last month must have been the news from Wiltshire that the county council is banning roadside signs directing motorists to pubs. The trade press reported the case of a country pub ordered to remove its sign,...

McIver the engine: while many leisure firms are struggling, gaming group Sportingbet has just reported a 23% rise in revenues. Dominic Walsh investigates its progress.(Insight: Behind the headlines)
November 1, 2008... At a time when so many corporations, particularly those in the leisure sector, are struggling to keep their heads above water, it is a relief to write about a company that is doing well--in spades. Step forward Sportingbet, which has just...

AsianLogic posts 155% hike in pre-tax profits.(News: Betting & gaming)(Financial report)(Brief article)
November 1, 2008... AsianLogic Limited, the diversified Asia-Pacific facing online and land-based gaming company, reported a 155% rise in pre-tax profits to $7.05m (3.9m [pounds sterling]) in its interim results for the half year to 30 June 2008. Total...

Inspired seals Stanleybet deal.(News: Betting & gaming)(Inspired Gaming)(Brief article)
November 1, 2008... Inspired Gaming has signed a worldwide multi-year licence with Stanleybet International to provide its virtual sports system across the Stanleybet estate. The licence is expected to make a significant contribution to group earnings over the...

WorldSpreads prospers in volatile markets.(News: Betting & gaming)(Brief article)
November 1, 2008... Spread betting specialist WorldSpreads Group said trading had accelerated since its year end on March, led by strong new client acquisitions and increased revenues. Growth was also supported by the continued volatility in financial markets in...

Sportingbet trebles full-year profits.(News: Betting & gaming)(Financial report)
November 1, 2008... Sportingbet, the online betting and gaming group, said it had trebled its full-year operating profits, as sports betting growth led gains. Announcing results for the year to 31 July 2008, the firm said it had seen net gaming revenue growth...

Newmarket eves bloodstock.(News: Betting & gaming)(Newmarket Investments )(Brief article)
November 1, 2008... Newmarket Investments reported an increased full-year pre-tax loss, but said it continued to look out for opportunities in the bloodstock sector. The company's shares were admitted to trading on AIM on 18 March 2008, following the reverse...

New way for NETeller.(News: Betting & gaming)(change of name)(Brief article)
November 1, 2008... NETeller, the online payment processing firm, is set to officially change its name to Neovia Financial. The firm said: "The name change is expected to provide a broader umbrella for future growth, as well as enhancing the group's...

Deal fees eat into Praesepe profits.(News: Betting & gaming)
November 1, 2008... Unveiling interim results for the six months to 30 June 2008, Praesepe, the investment vehicle formerly known as Aldgate Capital, said it had swung to a first-half loss as professional fees and an increased operating loss impacted results. ...

32Red wins eCOGRA seal.(News: Betting & gaming)
November 1, 2008... Online gambling player protection and standards body eCOGRA announced the successful completion of its rigorous inspection and testing process by 32Red, the listed gaming company, and its online poker and online casino operations. The...

PartyPoker rolls out 'next generation' live stream offer.(News: Betting & gaming)
November 1, 2008... PartyGaming, the listed online gaming company, has rolled out the first phase of the next generation of its PartyPoker website, redesigned around four key factors, backed up by new features approved by poker players who participated in testing....

New Fitness Market Monitor service set to launch in December.(News: Health, fitness & sport)
November 1, 2008... The Leisure Database Company will launch its new Fitness Market Monitor on 1 December 2008. Aimed at both public and private sectors, the monitor will collect key performance data from fitness operators on a monthly basis. Subscribers...

ADDleisure adds Clubrunner to its stable.(News: Health, fitness & sport)(Company overview)
November 1, 2008... ADDleisure, the AIM-traded company formed to develop products and services in the health and wellness sector, has successfully acquired ClubRunner (Europe), a leading leisure management software provider, through its 50.2% owned intelligent...

DC Leisure passes FIA Code.(News: Health, fitness & sport)
November 1, 2008... DC Leisure has become the first company in the UK health and fitness industry to achieve the The Fitness Industry Association's (FIA) Code of Practice. Introduced to raise standards in the industry, the Code of Practice ensures that health...

Scottish Chief Scientist's Office set to fund research into dance platforms.(News: Health, fitness & sport)
November 1, 2008... Scotland's Chief Scientist Office is funding almost 50,000 [pounds sterling] worth of research into the potential health benefits for adolescent girls of active computer gaming using ZigZag's XerDance platforms. The nine-month research...

New venues weigh on Powerleague profits.(News: Health, fitness & sport)(Powerleague)(Financial report)
November 1, 2008... Powerleague, the UK small-sided soccer operator, reported a standstill in full year profits, as the cost of acquisitions weighed. The firm, which operates 44 venues, added nine of those during the year to 28 June, including the five indoor...

Fitlinxx looks to overseas markets.(News: Health, fitness & sport)(Brief article)
November 1, 2008... FitLinxx has continued its programme of international expansion with new site openings in Spain and Sweden in October. Thethree installations in Spain, which are in conjunction with Life Fitness, are the Royal Torraco in Tarragona East...

Wembley refinances 341.5m [pounds sterling] loan until 2023.(News: Health, fitness & sport)
November 1, 2008... Wembley Stadium, a subsidiary of The Football Association, confirmed that it has successfully refinanced the loan that was taken out to fund the re-development of the national stadium. The deal relates to the remaining loan of 341.5m...

Playgolf posts par score as it seeks new sites to develop.(News: Health, fitness & sport)(Brief article)
November 1, 2008... Playgolf, the listed UK operator and developer of advanced multi-sport facilities, reported a widened pre-tax loss of 1.17m [pounds sterling] (2007: 1.13m [pounds sterling]) for the six months to 30th June 2008. Turnover was 1.16m [pounds...

Tower leads UK-wide rise in attractions visits.(News: Tourism & attractions)
November 1, 2008... Visits to visitor attractions in Britain have grown a further 3% in the last year, according to the 2007 Visitor Attractions Survey from VisitBritain. The Tower of London was the most popular paid-for attraction in 2007 with over 2 million...

Chinese theme park signs with UK's Simworx.(News: Tourism & attractions)
November 1, 2008... UK-based Simworx, a world leader in the design and supply of simulation attraction and effects theatres, has won an order to supply four of its Stargazer Motion Theatres to the new Giant Wheel Theme Park in China. Located in the city of...

BALPPA boss Dawson to take the helm at Europarks.(News: Tourism & attractions)(British Association of Leisure Parks, Piers and Attractions)(Colin Dawson)(European Federation of Leisure Parks)(Brief article)
November 1, 2008... Colin Dawson, chief executive of The British Association of Leisure Parks, Piers and Attractions (BALPPA), has been elected president of Europarks, the federation of theme and amusement park associations in Europe. His two-year appointment...

Poll boost for seaside resorts.(News: Tourism & attractions)
November 1, 2008... Business and attractions based around Britain's struggling seaside resorts are likely to receive a boost from domestic tourism next summer as the credit crisis and falling consumer confidence leads to a decline in overseas holidays, and a boost...

Overseas visitors decline.(News: Tourism & attractions)(Brief article)
November 1, 2008... The number of overseas visitors to the UK this summer fell by 3% on the previous three months, the Office for National Statistics (ONS) said. Seasonally-adjusted figures for June to August 2008, showed 8.1 million overseas visitors came to...

EuroDisney rides drive profit.(News: Tourism & attractions)(Financial report)
November 1, 2008... Euro Disney has moved into profit, with record visitor numbers and hotel occupancy rates, thanks to new attractions drawing more visitors. The theme park operator reported a net profit of 1.7m [euro] (1.36m [pounds sterling]) for the year...

LFLs down 2.4% at Luminar Leisure as refurbishments weigh.(News: Cinema & entertainments)(Brief article)
November 1, 2008... Luminar, Britain's biggest nightclub operator, has unveiled a first-half drop in like-for-likes of 2.4%. The group said that underlying like-for-like sales--excluding the impact of units currently closed for refurbishment--were down 0.3%....

Talks continue over Georgica.(News: Cinema & entertainments)(Brief article)
November 1, 2008... In a trading statement, UK tenpin operator Georgica confirmed that: "The talks with parties interested in acquiring Georgica continue. Detailed due diligence was first made available to such parties at the end of September. A further...

Digital switch could spell cinema buying opportunity.(News: Cinema & entertainments)
November 1, 2008... Following the news in October that the three largest American cinema chains have signed a deal to convert all their cinemas to digital, which could herald a sharp acceleration in the rollout of the technology in the UK, it has emerged that a...

Cineworld upgraded on prospects.(News: Cinema & entertainments)
November 1, 2008... Broker Altium Securities has upgraded its core recommendation on Cineworld shares to 'buy', on the back of current strong trading. Altium said: "The latest data released from the Film Distributors Association (FDA) highlights that the...

All Star to open new site in Brick Lane by year end.(Brief article)
November 1, 2008... All Star Lanes, the ten-pin bowling operator, is set to open its third outlet before the end of the year in the East of London. The 22,000sq ft site at the Old Truman Brewery on Brick Lane will be the largest venue to date comprising nine lanes...

Coco Latte club sold.(Brief article)
November 1, 2008... Coco Latte, the Earls Court nightclub founded by Marc Merran, the co-director of renowned Movida, has been sold to the Sauna Bar, a men's health spa and licensed bar, for an undisclosed sum. The new owner Bobby Lorenz, who is the former owner...

Heavenly deal for MAMA.(Heaven (London) Limited )(Brief article)
November 1, 2008... MAMA Group, the listed live music venue operator, said that through its jointly-owned subsidiary, GAY Group, it had bought Heaven (London) for 650,000 [pounds sterling]. Heaven owns the leasehold of Heaven Nightclub and owns, operates and...

Leisure operators sought by Merseyside waterfront developer.(News: Property & development)
November 1, 2008... A new Merseyside development is seeking operators to run a restaurant, bar and other leisure outlet. Neptune Development's 30m [pounds sterling] mixed-use scheme, The Waterfront in Southport, has instructed Christie & Co to market the...

Caffe Nero's chairman warns on high rents.(News: Property & development)
November 1, 2008... The founder of Caffe Nero has said that the company's continued success is due to not being locked into high rents. Speaking at the European Coffee Symposium 2008, Gerry Ford told delegates that one of the main focuses of his business model was...

Club Tropicana green-lighted.(News: Property & development)(North Somerset Council)(Brief article)
November 1, 2008... North Somerset Council has approved plans for the 48m [pounds sterling] redevelopment of the Tropicana centre in Weston-super-Mare. The council's planning committee gave the Lifestation@Tropicana project the green light after delaying the...

Paralympians re-open Blackwater.(News: Property & development)(Blackwater Leisure Centre)(Brief article)
November 1, 2008... Leisure Connection has re-opened its new-look Harpers fitness gym at the Blackwater Leisure Centre. Great Britain Paralympic stars Alan Mansell, Wendy Smith, Mike Karaphilides and Danny Crates were in attendance for the official opening of...

15m [pounds sterling] Didcot sports centre?
November 1, 2008... A report into the future of sports and recreation in Didcot has suggested that a new 15m [pounds sterling] multi-use leisure centre should be built in the Oxfordshire town. The study, carried out by consultants, Max Associates, was...

Hidden Nightclub sold.
November 1, 2008... Acting for First Caterers, Edward Symmons Hospitality & Leisure has sold the leasehold interest in the Hidden Nightclub in London's Vauxhall. The business occupies three railway arches close to Vauxhall Station, and comprises approx 6,060 sq ft...

TGI's to sell Fulham site.(Brief article)
November 1, 2008... TGI Friday's, the American-themed diner, has put a landmark venue in London up for sale. The group has appointed CBRE to find a buyer for a leasehold restaurant located on the Fulham Road next to Fulham Broadway tube station. The...

People returning to eating out market, new FCMG study finds.(News: Food & drink)(Survey)(Brief article)
November 1, 2008... The number of people eating out during the first two weeks of September reached its highest level since June last year, with pubs the most visited destination, according to a new survey. The research by FMCG in its latest QuickBite consumer...

UK 'already in recession'--study.(News: Food & drink)
November 1, 2008... The UK economy has "deteriorated dramatically" in the past three months, and is already in a recession, according to a new report. The Ernst & Young (E&Y) Item Club believes the UK will shrink by 1% next year, before recovering in 2010 and...

Greggs reveals slowdown.(News: Food & drink)(Brief article)
November 1, 2008... Greggs, the high street baker and sandwich shop operator, has revealed a slowdown in like-for-like sales growth to 3.9% for the first 16 weeks of its year. The figure follows like-for-like sales growth of 5.8% for the first six weeks. The...

McDonald's beefs up its green agenda.(News: Food & drink)
November 1, 2008... McDonald's has stepped up plans to improve its performance as an environmentally-friendly restaurant chain with a trial to turn waste from its Dorset restaurants into compost. For two weeks, 12 of the fast food giant's restaurants in the...

Rise in fast food breakfast sales.(News: Food & drink)
November 1, 2008... Fast food outlets are selling 10% more breakfasts now than they were five years ago, as high street chains tap into the 'morning food on the go' trend to meet the demands of today's consumer lifestyle. Research by Horizons found that while...

Domino's shows 10.5% sales rise.(News: Food & drink)(Financial report)(Brief article)
November 1, 2008... Revealing its first interim management statement from 30 June to 28 September, following its admission to the Official List, Domino's said it continued to see "strong momentum". It said sales, for the 13-week period were up by 17% to 83.3m...

LR Index leisure stockwatch October 2008.(Sharewatch)
November 1, 2008... Well there's clearly not much to cheer about this month, as the ongoing global financial crisis continues to wreak havoc on the UK leisure sector, which seems more and more unfair, given the positive numbers emerging on trading updates and...

Inspired Gaming Group.(People on the move)(retirement of Russell Hoyle)(Brief article)
November 1, 2008... Inspired Gaming Group announced that Russell Hoyle will be retiring as an executive director of the company with effect from 1 October, but will continue in his role as chairman in the capacity of a non-executive director while the company...

Visit London is seeking a new chief executive following the resignation of James Bidwell, after three years as head of the agency.(People on the move)
November 1, 2008... Visit London is seeking a new chief executive following the resignation of James Bidwell, after three years as head of the agency. Bidwell will be moving on at the end of 2008 to become European managing director of American retailer...

Merlin Entertainments.(People on the move)(appointment of Steve Shears)(Brief article)
November 1, 2008... Steve Shears has been appointed as the new site search and acquisitions director at Merlin Entertainments, reporting to Nick Mackenzie, managing director of Merlin's Property and Development Group. Shears has been with Merlin for 10 years--from...

Whitbread.(People on the move)
November 1, 2008... Whitbread has appointed Stephen Williams as its senior independent director with effect from 1 October. Williams joined the Whitbread board in April this year. He is general counsel and chief legal officer of Unilever, and is currently also...

Cineworld Group.(People on the move)
November 1, 2008... Cineworld Group unveiled the appointment of Alan Roux, of Blackstone Group International, as an alternate director to Lawrence Guffey, also of Blackstone, with effect from 23 September 2008.

Beacon.(People on the move)
November 1, 2008... Beacon, the purchasing specialist for the UK's independent hospitality industry, has named Paul Connelly as its new head of purchasing and operations. Connelly has been with Beacon for five years, having originally joined as a buyer, rising to...

Escape Fitness.(People on the move)(appointment of Matt Morton)(Brief article)
November 1, 2008... Escape Fitness continues to expand its team, unveiling Matt Morton as its new UK local authority manager. Morton spent three years at Life Fitness as area sales manager for the East Midlands. Working with a range of leisure providers from the...

Continuum.(People on the move)(appointment of Juliana Delaney)(Brief article)
November 1, 2008... Continuum, the York-based UK attractions group, has appointed Juliana Delaney as new chief executive, with immediate effect. The 7m [pounds sterling]-turnovercompany has a growing portfolio of owner-managed sites, including the Edinburgh...

Diary dates: November.(Appointments)
November 1, 2008... November Event: SIBEC UK & Europe Date: 5-8 Location: Aphrodite Hills Resort, Cyprus Description: SIBEC UK & Europe creates a one-to-one meeting forum between the major operators from the private, local authority and trust...