Leisure Report articles from October 2005

Leisure Report archives from October 2005

32Red makes '60m' [pounds sterling] AIM debut.
October 1, 2005... 32Red, a UK-focused online gaming business focused on casino and poker, made its debut on the Alternative Investment Market, as Leisure Report went to press. The company, which offers customers more than 200 online casino games played...

BC wins 800m [pounds sterling] race for Fitness First.
October 1, 2005... BC Partners, the private equity firm, looked set to emerge as the winner in the 800m [pounds sterling] auction of Fitness First, Britain's biggest health club operator, as Leisure Report went to press. The private equity firm fought off...

Who knows the most about your customers?(Customer Relationship Management firms)
October 1, 2005... It is possible, with just a little practice, to judge the health of an industry fairly accurately simply by attending the main conferences that take place yearly. One of the first questions we ask our team members when they return from such an...

Leopards entrants give competition a mauling to reach final.
October 1, 2005... There was fierce competition in the leisure sector this month, as the judges met to weigh the merits of this year's entrants for the LEOPARDS-the Leisure Report Innovation Awards 2005. In its second year, the competition attracted some...

OFT refers Vue acquisition to competition authority.(News)
October 1, 2005... The Office of Fair Trading announced it had referred the completed acquisition by Vue Entertainment Holdings of A3 Cinema, including its subsidiary, Ster Century (UK), to the Competition Commission. The OFT said it had decided that "the...

Reshuffle at VisitBritain following reorganisation.(News)
October 1, 2005... Kenny Boyle has been appointed commercial and marketing services director at VisitBritain, the national tourism agency, following changes across three divisions of the organisation. Boyle, currently international marketing director at...

New FD at Talarius.(Talarius plc )(Brief Article)
October 1, 2005... Talarius, the operator of Quicksilver high street adult gaming centres and Cyberslotz online slot machine gaming, announced that it has appointed Andrew Hall as finance director, effective immediately. Hall brings over twenty years of...

PartyGaming left short-stacked as City players fold.(new players left PartyGaming )
October 1, 2005... The honeymoon period ended abruptly for PartyGaming, after the group's outwardly impressive looking maiden half-year figures failed to excite investors, who instead treated the shares as it they were a busted flush, after Richard Segal, chief...

Gaming Corp bucks downward trend in online sector.(Gaming Corporation)(Gambling.com)(Brief Article)
October 1, 2005... Gaming Corporation said a number of its divisions were outperforming expectations, as it released an update on trading for the year ending September 2005. The firm has now completed the integration of Gambling.com, and said the business is...

Top Ten to net 1m [pounds sterling] from increased institutional demand for shares.(Betting & gaming news)
October 1, 2005... Top Ten Holdings, the independent bingo club operator, announced that in order to meet institutional investor demand, it had placed 20,000,000 new ordinary shares with institutional shareholders at a price of 5.1p per share. The new shares...

Sportingbet's imperialistic ambitions ended.(Empire Online)(Brief Article)
October 1, 2005... Empire Online and Sportingbet announced they had ended talks over a possible deal to unite the two businesses, bringing to an end weeks of speculation. Sportingbet had admitted that it was holding discussions with Empire over a possible...

Sportech stutters on poor results.(decline in its pools business)(Brief Article)
October 1, 2005... Sportech, the football pools and gaming operator, warned that a string of poor sporting results and continuing decline in its pools business would impact profits for the first half of its financial year. In advance of the company's interim...

Focus on core offer lifts Northern Racing.(offering paid dividends)
October 1, 2005... Northern Racing, the leading racecourse operator, reported a robust set of results for the six months ended 30 June 2005, as its strategy of focusing on its core offering paid dividends. Turnover, operating and pretax profits all rose, as...

German market gives strong start to Gaming VC Holdings.(Betting & gaming news)
October 1, 2005... Gaming VC Holdings, the online casino games operator, announced its maiden interim results, after its flotation on London's Alternative Investment Market in December 2004. The group successfully raised 81m [pounds sterling] through its...

Ex-Gala man eyes Buckingham Bingo.(Buckingham Bingo Clubs)(Brief Article)
October 1, 2005... Former Gala finance director Brian Mattingley is trying to buy Buckingham Bingo for more than 90m [pounds sterling]. But he is understood to face competition from a handful of private equity groups for Buckingham, which operates 10 clubs in...

BETonSPORTS boosts margins to post 23% profits hike ahead of 'key' period.(Betting & gaming news)
October 1, 2005... Leading U5 and Asian-facing online gaming company BETonSPORTS saw a sharp improvement in performance for the 26 weeks ended 7 August 2005, led by an increase in its gross margin percentage. Reaping the benefits of its strategy change to...

Tye takes helm at 'core business' DLL as Miller's tale ends.(David Lloyd Leisure)(Brief Article)
October 1, 2005... Mike Tye will take over the running of David Lloyd Leisure this month, after Stewart Miller's reign as managing director came to an abrupt end, further fuelling rumours that Whitbread's health club chain could be ripe for a sale. Tye,...

Esporta managers to receive equity.(Health & fitness news)
October 1, 2005... Premium operator Esporta has announced a new scheme to reward managers at its premium clubs with a stake in the business. Six of the group's top performing managers have been selected to be the first on a fast track development programme...

Branson re-Active?(Sir Richard Branson takes complete ownership)(Brief Article)
October 1, 2005... Virgin Active could be set for an aggressive period of expansion, to mirror that of rival operator Fitness First, if Sir Richard Branson is successful in his current negotiations to buy back into the company. Dominic Walsh reported in The...

LA Fitness looking to buy as its maps out strategy.(Health & fitness news)
October 1, 2005... Newly-private LA Fitness, backed by private equity firm MidOcean Partners, plans to be a key player in future consolidation of the sector, according to a strategy document made available by Fred Turok and his management team. Outlining a...

Second Harbour Club opens in Notting Hill.(Health and fitness news)(Brief Article)
October 1, 2005... Despite being a long was from the coast, a new Harbour Club has opened in London's Notting Hill. Twinned with the Chelsea Harbour Club, the venue opened its doors on 5 September, and aims to serve as a family-orientated health and tennis...

Goals scores with 173% profits rise.(industry news )(Brief Article)
October 1, 2005... Goals Soccer Centres said it is confident of having at least 26 five-a-side football centres open and trading by the end of 2007. In its maiden half-year results since listing on AIM in December, the operator of 14 UK sites said interim...

Early European exit hits Celtic in the pocket.(Sport news)(Brief Article)
October 1, 2005... Despite enjoying a strong first half of the season, Celtic paid the price for exiting both European competitions before Christmas, with results for the year to 30 June showing a loss after taxation of 7.73m [pounds sterling], compared with...

Relegated Saints still manage to turn in a profit.(Sport news)
October 1, 2005... Despite suffering the ignominy of a last-day relegation from the Premiership, Southampton Leisure, holding company of Southampton FC, managed to report a meagre profit for the year to 31 May 2005. The results for the year show a reduction...

Leisure Report LR Index football stockwatch.(football club shares)
October 1, 2005... Despite the recent reports that "Premiership football is boring, and overpriced" (claims with perhaps more than a modicum of truth), there were gains for more than half the listed sides during September. Leading the way was Aston Villa,...

Urbium agrees 113m [pounds sterling] deal with Lightflower.(Cinema and entertainment news)(Lightflower Acquisition)
October 1, 2005... Urbium, the late-night bar and club operator, has agreed a takeover of the business by Lightflower Acquisition, an investment vehicle set up by private equity group Electra Partners, valuing its share capital at 113m [pounds sterling], and...

Record profits fund Soho House extensions.(Cinema and entertainment news)(Brief Article)
October 1, 2005... Soho House, the hip club in central London, unveiled record profits for last year of 3.4m [pounds sterling], alongside some ambitious extension plans. Building starts next month on a 9m [pounds sterling] development in Chiswick, west...

Soho Clubs puts in for Po Na Na.(Cinema and entertainment news)(Brief Article)
October 1, 2005... Soho Clubs and Bars has put in a bid for Po Na Na, reports the Morning Advertiser. Private equity firm Avanti Capital, which owns the 28-venuestrong Po Na Na business, put the chain up for sale in March 2005 for approximately 15m [pounds...

SFI sells last FYEO.(Cinema and entertainment news)(For Your Eyes Only)(SFI group )(Brief Article)
October 1, 2005... SFI Group's administrator has sold the group's For Your Eyes Only lap-dancing club in Mayfair, London for an undisclosed fee. The club was the last of the group of lap-dancing venues SFI acquired when it bought Richardsons Inns. David...

Luminar 'neutral' like-for-likes.(Cinema and entertainment news)(Brief Article)
October 1, 2005... Luminar, the nightclub operator, described like-for-like sales for the year to date as 'neutral'. In a pre-close statement for half-year ending 31 August, the group said it was "cautiously optimistic". The company said that trading was...

Brochure delay means fewer happy campers at Parkdean.(market condition)
October 1, 2005... Parkdean Holidays, the UK holiday park operator, said it was unlikely to meet market expectations for profits during the year to 31 October, as the decision to delay the launch of its 2005 holiday brochure earlier in the year proved costly. ...

Ivell joins GB Holiday Parks board.(Tourism & attractions news)
October 1, 2005... Bob Ivell has added to his directorships by becoming non-executive chairman of GB Holiday Parks, the second-largest holiday caravan park group in the UK. Owned by ABN Amro Capital, the private equity arm of Dutch bank ABN Amro, GB Holiday...

42m [pounds sterling] MBO at PGL Travel.(Tourism and attractions news)(Management by Objectives)(Brief Article)
October 1, 2005... PGL Travel Ltd, the UK's market leading activity holiday specialist and school tour operator, has been acquired by its management from the family of its founder, Peter Gordon Lawrence, in a deal valued at 42m [pounds sterling]. Based in...

Tourists pay despite rainy days as indoor attractions draw crowds, says VisitBritain.(Tourism & attractions news)
October 1, 2005... The British tourist industry flourished this year despite a wet summer, VisitBritain has reported. Although 2005 saw the wettest summer since 1912, London saw a 16% increase in tourism revenue, while the northwest saw its visitor spending up...

Leisure Connection signs up for Lewisham's new 16m [pounds sterling] 'leisure & lifestyle' centre.(Leisure Connection contract )
October 1, 2005... Lewisham Council, has signed a contract with a consortium of companies to deliver a Private Finance Initiative project to create a 16m[pounds sterling]-plus "cutting edge sports, leisure and lifestyle facility" in the Lewisham ward of Downham....

Karis unveils leisure-led plans for Brighton seafront.(Property news)
October 1, 2005... Karis Holdings, the joint venture between ING Real Estate Development UK and Karis Developments, announced its final plans for the redevelopment of a dilapidated 4.2-acre site on the seafront at Brighton, which have been submitted to the local...

Billing Aquadrome gets detailed approval.(Property news)
October 1, 2005... The multi-million pound plans to create a new leisure and entertainment complex at Billing Aquadrome will start taking shape very soon after council officials gave the go-ahead. Northampton's holiday park intends to start the major...

Fast food chains adding to advertising 'pox'.(Food & drink news)
October 1, 2005... McDonald's, KFC and Costa Coffee are a few of the names recently named and shamed by The Campaign to Protect Rural England for advertising via motorway hoardings. The organisation recently released a report estimating that there are...

Compass to sell SSP.(Select Service Partner)(Compass Group)(Brief Article)
October 1, 2005... Compass Group is reported to have put its travel concessions arm, Select Service Partner, up for sale for at least 300m [pounds sterling]. SSP operates from airports, railway stations and motorway service areas in more than 35 countries and...

Caffe Nero to look overseas as profits rise.(industry revenue)(Brief Article)
October 1, 2005... Caffe Nero reported a 7.5% increase in like-for-like sales for the year to 31 May, with pre-tax profit before amortisation up 155% to 5.6m [pounds sterling]. Turnover was up 39% to 70.1m [pounds sterling], with Ebitda increasing by 81% to...

Pizza's Express return to stockmarket.(Food & drink news)
October 1, 2005... Pizza Express, the country's biggest pizza and pasta chain, is heading for a return to the stockmarket, according to reports. Owners TDR Capital and Capricorn Ventures will float it later this year along with the Ask pizza business and...

Costa Coffee bans smoking across estate.(follow the regulations)(Brief Article)
October 1, 2005... Costa Coffee has banned smoking across its 370-strong UK estate. Prior to the announcement 90% of the estate had been smoke free. Mark Phillips, the brand's managing director, said: "This is a significant step in the coffee arena as there is a...

Subway opening 30 UK sites a month.(Food & drink news)
October 1, 2005... Subway, the US sandwich bar brand, is currently opening 30 sites a month in the UK and plans to have about 650 sites open by the end of the year. It recently passed the 500-site mark when its first airport site opened in Bristol earlier...

Leisure sector workers 'suffer poor pension provision'.(Industry news)
October 1, 2005... Workers in the hotels, catering and restaurants sector believe they have some of the worse pensions provision in the country, according to new research from AXA. The survey found that around 40% of staff in the sector claim they do not get...

Employers kidding parents out of rights to time off.(Industry news)
October 1, 2005... Working parents could be missing out on time off that the government says they are entitled to, as new research by Croner, the employment consultancy, revealed that employers are not going far enough to enable employees to take advantage of...

De Vere adds former Whitbread FD.(finance director)(Matthew Fearn)(Brief Article)
October 1, 2005... Matthew Fearn, the former corporate finance director at Whitbread, is to join De Vere as group finance director. Fearn will join De Vere in November. He succeeds Roger Stubbs, who will retire at the end of the year. Peter Daresbury, the...

Innovative business improvement plan for Blackpool.(community scheme)(Brief Article)
October 1, 2005... The regeneration of Blackpool continues apace as the holiday town announced it had become the first seaside resort in Britain to set up a Business Improvement District. The pioneering 2.1m [pounds sterling] scheme aims to create safer,...

A gym! A gym! My kingdom for a gym! Danny Fryer asks why at some clubs members are viewed only as sales targets, or as an inconvenience.(Opinion--Health Clubs)
October 1, 2005... Okay, so I don't have a kingdom and I've just taken liberties with Shakespeare but, seriously, what does a guy have to do to get a good gym around here? These days we seem to be stuck between a rock and a hard place, with the rock being...

When high turnover is undesirable: companies must retain staff to improve service, says Judith Clegg of Egremont.(Business Sense--HR function)
October 1, 2005... Make no mistake, when it comes to the HR function these are challenging times for the leisure industry. This most people-centric element of most businesses is being severely impacted by a combination of factors that are affecting the whole...

Age on the agenda: employers should prepare for age-discrimination regulations to be introduced next year.(Legal)
October 1, 2005... The new Employment Equality (Age) Regulations are scheduled to become law on 1 October next year. The key impact of the regulations will be to outlaw direct and indirect age discrimination, as well as harassment and victimisation on the basis...

The heavenly rise of CRM: customer relationship management requires commitment.(Feature--CRM in leisure)
October 1, 2005... Ultimately, companies want to become God, sort of. We're not talking about the God turns dissenting wives to pillars of salt, or who wipes out entire populations with fire, flood or pestilence. We're talking about the popular benevolent,...

Leisure Report LR Index leisure stockwatch October 2005.(Sharewatch and diary dates)(market share)
October 1, 2005... Results season for the bookmakers and gaming firms in September, and most of the traditional firms came out ahead. Arena Leisure shares gained almost 14% to trade at 43p after its interim results reversed a 500,000 [pounds sterling] loss last...

Diary dates.(Brief Article)(Calendar)
October 1, 2005... October Event: IHRSA European Congress 2005 Date: 2-5 Location: Sheraton Roma Hotel, Rome, Italy Description: International Health, Racquet and Sportsclub Association's European congress and exhibition Contact:...