Leisure Report articles from October 2004

Leisure Report archives from October 2004

Rank to split and focus on leisure.
October 1, 2004... Rank Group said it was considering splitting up its businesses to focus on its gaming and restaurant operations, after poor results from its Deluxe Media arm impacted its first-half profits. Mike Smith, chief executive, said: "The board...

Terra Firma gets its Hands on Odeon and UCI.(United Cinemas International )(Brief Article)
October 1, 2004... Terra Firma Capital Partners, the UKprivate equity firm headed by Guy Hands, won the bidding battles for Odeon and UCI, giving the company the best seat in the house in the UK cinema sector. The company declined to discuss the amounts it...

Summer is over, it's back to business.(Inside track)
October 1, 2004... As you will be aware, this issue is my first at the helm of Leisure Report, while Mel takes some well-earned time out to introduce herself to the joys of motherhood, and I'm sure I speak for all of us when I wish her all the best. Look out for...

McIntosh: new casinos can regenerate Britain.(News)(Brief Article)
October 1, 2004... Casinos can help regenerate whole regions of Britain, according to Lord McIntosh, the minister responsible for overhauling and liberalising the UK's gambling laws. He said the proposed changes will abolish "irrelevant restrictions based on...

Interactive casinos help Sportech double turnover.(News)
October 1, 2004... Sportech, the owner of Little-woods gaming, said turnover in its betting divisions had almost doubled in the first half of the year, reflecting strong growth in its internet casino products. Announcing interim results, the company reported a 7%...

'Unlucky' punters help Paddy Power post record interim profits.(News)
October 1, 2004... Paddy Power, Ireland's largest bookmaker, announced record interim results for the six months to June 30, thanks to increased win margins "after customers lost more than usual as a succession of outsiders won sporting events. Profit after...

Leopards finalists named.(News)(The Leisure Operator Awards)(Brief Article)
October 1, 2004... Judging for the inaugural Leopards--The Leisure Operator Awards- took place in London on 20 September. The Leopards, organised by Leisure Report and run in conjunction with Business In Sport and Leisure are designed to recognise innovation...

JJB's leisure arm presses ahead despite profits warning.(Health & fitness news)(Brief Article)
October 1, 2004... JJB Sports issued a profits warning, blaming the recent bad weather for poor sales of sports clothing, but the company's leisure division bucked the trend, and JJB said that it would continue with its drive to expand into the health and fitness...

LivinqWell underperforms for Hilton Group.(Health & fitness news)(Brief Article)
October 1, 2004... LivingWell, the health and fitness chain operated by Hilton, saw turnover, membership and profits fall in the first six months of the year to 30 June, in a set of results that underperformed the rest of the Hilton brands. Hilton Group said...

US chain Contours Express to roll out concept in UK.(Health & fitness news)(Brief Article)
October 1, 2004... Contours Express, a women-only fitness and weight loss chain from the US, is set to roll out across Britain, following the signing of a master franchise agreement which should see the first location open early in 2005. The agreement will...

Legionnaires' link to dirty spa pools.(Health & fitness news)(Brief Article)
October 1, 2004... Poorly maintained spa pools and hot tubs could be a breeding ground for legionella bacteria, the cause of legionnaires' disease, according to a report by the Health Protection Agency. The HPA examined 88 spa pools in health clubs, hotels...

Bannatyne works out 73m [pounds sterling] funding.(Health & fitness news)(Brief Article)
October 1, 2004... Bannatyne Fitness, the privately-owned health club operator, is set to open four new sites after securing 73m [pounds sterling] in funding from the Allied Irish Bank and Royal Bank of Scotland. The agreement is likely to mean Bannatyne abandons...

Ladbrokes reports 51% profit rise despite FOBT slowdown.(Betting & gaming news)
October 1, 2004... Ladbrokes, Hilton Group's betting and gaming division, reported a 51% increase in operating profit to 154m [pounds sterling] (2003: 101.8m [pounds sterling]), for the first six months of the year to 30 June, despite a slowdown in profits from...

Aspinall's upgrades its plans for Salubrious place and announces a 50m [pounds sterling] casino tie-in with Chelsfield.(Betting & gaming news)(Brief Article)
October 1, 2004... Aspinall's, the London-based casino operator, has upgraded its plans for the 30m [pounds sterling] Salubrious Place development in Swansea, in the wake of government proposals to curb the number of unlimited jackpot slot machines by restricting...

FOTBs outstrip Lotto takings.(Betting & gaming news)(Brief Article)
October 1, 2004... Gamblers in Britain are staking more than three times as much money on fixed-odds betting machines in the top five high street betting shop chains as they spend on the National Lottery, according to an investigation by The Guardian. The...

LCI names new chief executive as trading continues in line.(Betting & gaming news)(London Clubs International )
October 1, 2004... London Clubs International told delegates at its annual general meeting that current trading was in line with expectations, as it unveiled Bill Timmins as its new chief executive. Timmins has worked for LCI for eight years, and is generally...

London casinos lift Stanley Leisure's H1 profits.(Betting & gaming news)(Brief Article)
October 1, 2004... Stanley Leisure said it had made a good start to its financial year, with an improvement at its London venues offsetting quieter trading in the provinces. The company said its betting division had made a "satisfactory" start, with...

ATR improvement helps Arena Leisure halve losses.(Betting & gaming news)(Brief Article)
October 1, 2004... Arena Leisure posted losses of 245,000 [pounds sterling] for the six months to 30 June, less than half the figure that City analysts had predicted, helped by a reduction in the amount lost through its At The Races television channel. The...

Northern hopes for better going.(Betting & gaming news)(Brief Article)
October 1, 2004... Northern Racing said it was looking forward to a calmer future, when reporting interim results for the six months to 30 June, its first set of figures since it was formed following the reverse takeover of Northern by Chepstow Racecourse. ...

Profits up but William Hill warns on Q2.(Betting & gaming news)(William Hill, Television broadcasting industry)(Brief Article)
October 1, 2004... Half-year profits at William Hill rose nearly 40%, helped by longer trading hours and results at the Euro 2004 football championships, but the company warned that adverse results in the second quarter could put a dampener on its full-year...

Weak dollar curtails Wembley's H1 profits.(Betting & gaming news)
October 1, 2004... Wembley, the track-based gaming operator, reported strong trading for the six months to 30 June 2004, but said profits had been tempered by the weakness of the US dollar. Profitability at the company's UK gaming business increased by 43%...

Victor Chandler steps up LBO roll out timetable.(Betting & gaming news)(Launch Base Operations)(Brief Article)
October 1, 2004... Victor Chandler's assault on the high street betting market is picking up a pace with the firm securing a site for a flagship outlet in the City of London and confirming details of a raft of openings. The predominantly online gaming company...

ABB appoints OFT man to board.(Betting & gaming news)(Association of British Bookmakers)(Office of Fair Trading)(Brief Article)
October 1, 2004... The Association of British Bookmakers announced the appointment of Russ Phillips, formerly a principal case officer with the Office of Fair Trading, as deputy chief executive to Tom Kelly, Phillips has strong experience in the betting and...

Gaming International de-lists after MBO.(Betting & gaming news)(Management Buy Out)(TokLon Limited.)(Brief Article)
October 1, 2004... Shares in Gaming International were de-listed from the stock exchange after the successful management buyout by TokLon, the bidding vehicle led by Clarke Osborne, which valued the company at about 15m [pounds sterling]. Osborne said: "I believe...

Sheffield United to raise 8.9m [pounds sterling] through share placing.(Sport news)(Brief Article)
October 1, 2004... Sheffield United announced plans to raise up to approximately 8.81m [pounds sterling] net of expenses through a share placing, in order to reduce long-term debt and to augment the playing squad to assist the club's promotion push over this...

Saints go marching on to profit.(Sport news)(Southampton Leisure Holdings PLC.)(Brief Article)
October 1, 2004... Despite the media storm following the departure of team manager Paul Sturrock "after just 13 games in charge, the club appears, financially at least, to be going from strength to strength. Announcing full-year results for the 12 months to...

Millwall profits lifted by Cup Final.(Sport news)(Millwall Holdings PLC, FA Cup )(Brief Article)
October 1, 2004... Last season's beaten FA Cup finalists Millwall announced a loss of just 100,000 [pounds sterling] for the last financial year to 31 May 2004, rubbishing a newspaper report of a 4m [pounds sterling] deficit. After what chairman Theo...

Leisure Report LR Index football stockwatch October 2004.(Sport news)
October 1, 2004... Sheffield United's share issue was the big story from the football stocks this month, and the scheme was well-received by investors, with shares in the club gaining about 12% on the news. Two clubs saw a sharp fall in the value of shares,...

UK Film Council confirms digital roll-out.(Cinema & entertainment news)
October 1, 2004... The UK Film Council's Lottery-funded Distribution and Exhibition Fund called on the cinema and film industry to unite to decide how to set up and run 250 digital screens at 150 cinemas around the country. The 13m [pounds sterling] scheme...

Urbium profits drop by 24% on new opening costs.(Cinema & entertainment news)(Brief Article)
October 1, 2004... Urbium reported a fall in pre-tax profit to 1.9m [pounds sterling] for the six months to 27 June, down 24% from 2.5m [pounds sterling] in the same period last year. The nightclub and late-night bar operator blamed the fail on 'substantial...

Luminar results 'improving'.(Cinema & entertainment news)(Luminar Leisure)(Brief Article)
October 1, 2004... Luminar reported like-for-like sales for the six months to 29 August were down 3.7%. The nightclub and leisure group described the results as 'broadly in line with expectations'. The company has seen some improvement in recent months, with...

Management buyout at McKenzie.(Cinema & entertainment news)(Royal London Private Equity)(Brief Article)
October 1, 2004... McKenzie Group, the UK's biggest operator of live music venues, has been bought by its management in a 33.5m deal, ahead of a planned roll-out of the Academy brand around the UK. This deal was backed by Royal London Private Equity, which...

Mean Fiddler group to roll out Jazz Cafe.(Cinema & entertainment news)(Brief Article)
October 1, 2004... Vince Power's Mean Fiddler group plans to roll out its successful Jazz Cafe concept into Europe. The venue management and concert promotion group, which was floated in 2001, owns the promotional rights to the Reading Festival, The Fleadh and a...

Georgica lifted by Rileys.(Cinema & entertainment news)(Brief Article)
October 1, 2004... Georgica reported an increase in sales across its divisions of 0.2% for the six months to 27 June. The company, which also announced the sale of its Burger King businesses for 4.75m [pounds sterling] in August, said it had made...

Bakersfield goes into receivership.(Cinema & entertainment news)(Bakersfield Entertainment)(Brief Article)
October 1, 2004... Bakersfield Entertainment, which runs an estate of eight Mood nightclubs, has gone into receivership. KPMG has been appointed as administrator of the Preston-based company and is confident a buyer can be found. A KPMG spokesman said:...

Stringfellow's down.(Cinema & entertainment news)(Brief Article)
October 1, 2004... Turnover at Stringfellow's fell from 4.9m [pounds sterling] to 4.6m [pounds sterling] last year as City bankers and brokers saw their bonus payments slashed. But the famous lap-dancing club still posted a 140,000 pre-tax [pounds sterling]...

Six Flags European sites relaunch under StarParks brand.(Tourism & attractions news)
October 1, 2004... The Six Flags European Division, acquired by private equity firm Palamon Capital Partners in May 2004 for 155m [euro] (103m [pounds sterling]) from Six Flags, the US leisure park operator, has relaunched under the new name StarParks. ...

Falkirk set for 850m [pounds sterling] UFO visitor attraction.(Tourism & attractions news)(Unidentified Flying Object)(Global Restaround Enterprises)(Brief Article)
October 1, 2004... Falkirk Council is in discussions with Global Restaround Enterprises, a Dutch firm, about the possibility of building a 850m [pounds sterling] theme park based on extra-terrestrial visitors, on a greenfield site in Bonnybridge, purportedly...

Holidaybreak pegged back by camping division.(Tourism & attractions news)(Brief Article)
October 1, 2004... Holidaybreak, the Cheshire-based UK holiday operator, announced it would meet its reduced annual profit forecasts for the year and reported strong trading at both its hotel breaks and adventure divisions, but said despite an improved...

Parkdean defies weather to post strong summer figures.(Tourism & attractions news)(Brief Article)
October 1, 2004... Parkdean Holidays, the UK holiday park operator, reported a 7.5% increase in holiday hire revenue across its 14 parks following the key summer holiday season to 5 September, and said it had seen growth in all of its key revenue streams over the...

Oversees visitors to UK still on the increase.(Tourism & attractions news)(Brief Article)
October 1, 2004... VisitBritain announced that the number of visitors to Britain grew by 11% from May to July on a yearly basis, while another set of figures from the Office of National Statistics showed a 13% year-on-year rise in the three months to July. ...

Expanding Merlin opens new Sea-Life centre.(Tourism & attractions news)(Brief Article)
October 1, 2004... Merlin Entertainments Group has opened its largest Sea Life centre, a new 15m [euro] (10.25m [pounds sterling] development in Oberhausen, Germany, next to Europe's busiest shopping complex. The 3,000 square metre attraction features 40...

Continuum Group's Fenscape attraction opens.(Tourism & attractions news)(Brief Article)
October 1, 2004... Fenscape, a 'unique and interactive' visitor attraction in Spalding, Lincolnshire was opened on 30 August by Professor David Bellamy, honorary president. The 1.2m [pounds sterling] centre was designed and built by Past Forward, the design...

July hotel rises 'modest', says PKF.(Tourism & attractions news)(Brief Article)
October 1, 2004... Hotels in the United Kingdom reported only a modest rise occupancy and room rates in July, according to the latest figures from PKF, the consultancy. Alex Clarke, hotel services consultant at PKF, said: "On first glance the figures for UK...

Eisner to retire.(Tourism & attractions news)(Michael Eisner)(Brief Article)
October 1, 2004... Michael Eisner, Walt Disney's chief executive, will retire in September 2006, when his contract expires. Eisner, who has come under pressure to resign from shareholders, said: "Until then I shall continue to exert every effort to help the...

Regional casino part of 2bn [pounds sterling] scheme for proposed redevelopment of Leith Docks.(Property & development news)(Brief Article)
October 1, 2004... Forth Ports, the owner of Leith Docks in Edinburgh, is behind a 2bn [pounds sterling] scheme to redevelop the area which could see it transformed into a live music centre with a luxury casino and five-star hotel. Brittannia Quay, which was...

Pressure group attacks SnOasis.(Property & development news)(Suffolk Preservation Society)(Brief Article)
October 1, 2004... A rural pressure group has called on Suffolk district councillors to reject plans for a 320m [pounds sterling] winter sports complex, which incorporates a casino, in Suffolk. The Suffolk Preservation Society said it was not worth...

Salmon Harvester ties in operators.(Property & development news)(Asper's)(Brief Article)
October 1, 2004... An Asper's-branded casino will sit alongside a Fitness First gym on the site of the former Flowers brewery in Cheltenham, which will be known as The Brewery, after Salmon Harvester Properties, a joint venture between Salmon Developments and NFU...

Scientists seek public funding for 250m [pounds sterling] aquarium.(Property & development news)(National Institute for Research into Aquatic Habitats)(Brief Article)
October 1, 2004... A group of UK scientists seeking to attract public finance to develop the world's largest aquarium, a double-domed development that would dwarf the Eden Project. The National Institute for Research into Aquatic Habitats would become one of...

Olympic park gets go-ahead.(Property & development news)(London councils)(Brief Article)
October 1, 2004... London's bid to host the 2012 Olympic Games received a significant boost as plans for the construction of an Olympic Park were approved by four London boroughs. The Park would house key venues for the Games--including the Olympic stadium...

UK coffee bars a big success.(Food & drink news)(Brief Article)
October 1, 2004... According to a new report, the UK currently has the most evolved and successful branded coffee bar market in Europe. Research from the Allegra Strategies' 2004 report into the European coffee bar market estimates that there are around 2,299...

Burger King considers stock exchange listing.(Food & drink news)(Brief Article)
October 1, 2004... Burger King has indicated that it is planning an IPO, possibly within the next two years. In a statement made recently regarding the promotion of Betty Ann Blandon, John Chidsey, president of Burger King North America, said that Blandon...

Caffe Nero announces retail joint ventures.(Food & drink news)(Brief Article)
October 1, 2004... Caffe Nero reported a 4% increase in like-for-like sales for the year to 31 May, and said it was planning to add a further nine outlets, all of them retail joint ventures. The company has entered into a partnership agreement with House of...

Report calls for brake on spread of branded food chains across the UK.(Food & drink news)(New Economics Foundation)(Brief Article)
October 1, 2004... The New Economics Foundation has produced a report called "Clone Town Britain" which warns of the dangers of identikit urban environments caused by the spread of nationwide chain stores and eateries. It calls for local authorities to be...

Restaurant chains on menu for 120m [pounds sterling].(Food & drink news)(Bella Italia)(Cafe Rouge)(Brief Article)
October 1, 2004... The Bella Italia and Cafe Rouge chains could be put up for sale for more than 120m [pounds sterling] following the appointment of Hawkpoint to study options for the group. Owner Tragus, now one of the country's largest independent...

Gowrings reduces first half losses.(Food & drink news)(Brief Article)
October 1, 2004... The UK-based Burger King franchisee Gowrings reported smaller losses, as it continued its plans to focus on its restaurant business. The company saw a pre-tax loss of 832,000 [pounds sterling] for the half-year to 30 June against a loss of...

Scotland could see smoking ban by 2006.(Industry news)
October 1, 2004... Smoking in public places could be banned in Scotland within 18 months. An indication of First Minister Jack McConnell's plans came on a trip to Dublin, where he was looking at the impact of Ireland's smoking ban. McConnell said he was...

Threat of legal action over new disability laws.(Industry news)(Disability Discrimination Act)
October 1, 2004... Businesses which fail to meet the requirements of new disability equality laws when they come into effect at the beginning of October will face legal action, the Disability Rights Commission has warned. The laws will apply to every...

Premier League reveals tough new governance rules.(Industry news)(Brief Article)
October 1, 2004... The Premier League has announced a series of key measures "to ensure the highest standards of governance are maintained and improved by its member clubs." The measures include the introduction of a 'Fit and Proper Person Test', enhanced...

Center of attention: the chief executive of Center Parcs tells Duncan Rowe about the group's multi-faceted expansion plans.(Profile)
October 1, 2004... Martin Dalby's enthusiasm for Center Parcs is infectious. After an hour in his company I'm starting to question whether I get real value from the holidays abroad I usually take, and if I wouldn't be better off taking more short breaks and...

The big wheels keep on turning: Simon Stephens climbs aboard the rollercoaster ride that is the UK visitor attractions market.(Special report--Visitor Attractions)
October 1, 2004... Operators of commercial visitors attractions in the UK have not had an easy ride in the past few years. They have had to deal with the aftermath of the foot and mouth crisis and the threat of global terrorism, which has led to a fall in...

Golfing gloves are off in the battle for a major prize: Dominic Walsh says the battle for control of Wentworth Golf Club could yet go to a play-off.(Behind the headlines)
October 1, 2004... Golf is generally regarded as one of the most genteel of sports, played by decent people in pleasant surroundings. Even in the professional game, where the stakes are high, the sport has become a byword for fair play and honesty. It is one of...

Leisure Report LR Index leisure stockwatch October 2004.(Sharewatch)(Illustration)
October 1, 2004... With many leisure groups reporting interim or full-year results in September, there was an inevitable surge in activity, as the City returned from its summer break and digested the figures. Leading the gains this month were Prezzo and The...

Diary dates.(Calendar)
October 1, 2004... October Event: First National Conference of Visitor Attractions Date: 12 Location: Queen Elizabeth II Conference Centre, London Description: Conference for owners and senior managers of attractions, opinion-formers and tourism...