Leisure Report articles from September 2008

Leisure Report archives from September 2008

Results enhance bullish outlook for online gaming.
September 1, 2008... A raft of recent interim and full-year results from the leading players in the online gaming industry has augmented the positive stance taken by analysts on firms operating in the sector. Although the overall outlook for the economy is...

The Olympics--not just a bandwagon.(Inside track)(Editorial)
September 1, 2008... So, Team GB came home with a (post-war) record haul of medals, many of them gold, and as a result the country is feeling great about itself and--credit crunch be damned--retail sales are up. I don't want to come across as the voice of doom,...

Paddy Power posts record set of first-half figures, 10% profit rise.(Breaking news)(Financial report)
September 1, 2008... Bookmaker Paddy Power has revealed growth in operating profit and profit before tax of 10% to 45.1m [euro] and 47.1m [euro] respectively in a record set of interim results. Posting a growth in earnings per share of 17% to 82.3 cents, the...

VAT tribunal rules in favour of Rank Group.(Breaking news)
September 1, 2008... The UK's VAT and Duties Tribunal has issued an interim decision in favour of Rank, in the gaming group's ongoing case against HM Revenue and Customs (HMRC). The Tribunal said its initial finding was that the UK's Value Added Tax treatment...

Leisure & Gaming beats forecasts.(Breaking news)
September 1, 2008... Leisure & Gaming (L&G), the online betting and gaming group, has announced interim results for the six months to end June, coming in marginally ahead of market expectations. The group's interim results incorporate its main operating...

32Red sees 'encouraging signs' as it unveils record gross win levels.(Breaking news)
September 1, 2008... 32Red Plc, the UK-listed online gaming operator, has reported "encouraging" interim results for the half year ended 30 June 2008. The board said it "has been pleased with the company's performance during the first six months of 2008". ...

Poker worries cast a shadow over PartyGaming's first-half results.(Breaking news)
September 1, 2008... PartyGaming, the online gaming group, announced first-half year results well above analysts' expectations, but saw shares fall over concerns that poker revenues had stalled going into the third quarter. Reporting for the six months to 30...

888 full of confidence as revenues rise 35%.(Breaking news)(Financial report)
September 1, 2008... 888, the online gaming entertainment group, said net gaming revenues (NGR) was up by 35% to $132m (64m [pounds sterling]) for the six months to 30 June 2008, with total operating income up 38% to $135m (H1 2007: $98m). NGR from the group's...

NETeller announces maiden profit, eyes dividend.(Breaking news)
September 1, 2008... NETeller Group, the global online payments firm, reported first-half net income of $1.15m (0.63m [pounds sterling]) or 1 cent per share compared to net loss of $24.50m or 20 cents per share last time out. The group said pre-tax profit was...

Gamingking set to buy Orb Holdings.(Breaking news)
September 1, 2008... Gamingking has announced plans to buy Orb Holdings--the second-largest operator of amusement machines in the UK licensed industry--in a reverse takeover. It has conditionally agreed to acquire Orb for the issue of 32.95 million...

Economic warning signs increase, but funding for deals 'still available' say leading bankers.(Industry News)
September 1, 2008... Further signs that the UK economy is heading into a 'genuine' recession continued last month, with alarms being generated by several surveys and statistics, although the leading banks insisted credit was still available to firms. Although...

Reasons to be cheerful: David Minton defies the doom-mongers with a welcome dose of good news--the UK fitness industry is in rude health and has plenty to smile about.(Insight)
September 1, 2008... After the Pirelli Calendar and 'Mercedes' in the Graham & Green Catalogue we now have another collectable in the shape of the annual Escape Fitness catalogue. As someone at Cannons Bromley said, 'Bring back the nurse!' Not content with just...

Prosperous on the Bosphorus: Martyn Leek reports from Istanbul, where hotel companies are starting to take inspiration from the Ottoman Empire as they satisfy the city's rapidly-growing demand for brands.(Insight: The Turkish market)
September 1, 2008... Any country which can claim ownership to the most opulent carpets and baths in the world should be a hoteliers' dream. Turkey's Ottoman emperors were giving luxury a 24 carat gold name with a bearskin finish long before foothallers were...

Flood defence of the realm: CMS Cameron McKenna's Charles Romney says that despite a raft of new measures to protect businesses from flood damage, firms still need to ensure their life-jackets are in place.(Insight: Legal--Flood protection)
September 1, 2008... The extreme wet summer weather in 2007 is for many of us a distant memory, although this summer has hardly been a return to the balmy Mediterranean climate many leisure operators might have hoped for. However last year's deluges are still...

Stacking the odds: uncertaintly over 'reparations' to the US Department of Justice is creating a cloud over the online gaming sector. Dominic Walsh investigates.(Insight: Behind the headlines)
September 1, 2008... If I had a casino chip for very time a quoted internet gaming operator has talked about ongoing negotiations over a "settlement" with the US Department of Justice (DoJ), I could probably afford to spend a week playing the tables in Las Vegas....

Still making a splash? Jonathan Endersby takes a look into the marinas and waterways market to see how buoyant the sector is during the current period of economic choppy waters.(Insight: Waterways & marinas)
September 1, 2008... With the economic downturn predicted to get worse and public spending likely to remain under pressure for some time, it is heartening to note that at least some areas of the UK leisure sector are still thriving. British Waterways (BW)...

Your attention, please: David Jefferies, marketing director with mail and messaging firm Pitney Bowes, explains how leisure businesses must plan advertising campaigns with precision in this 'attention economy'.(Insight: Attention economics)
September 1, 2008... Research shows that today's consumer is besieged by up to 2,000 marketing and advertising messages each day. In today's multi-channel, information-rich world it is an individual's attention that has become the scarcest resource. ...

Rising costs enhance green agenda: businesses are now putting energy efficiency at the top of their cost-cutting priorities, but leisure firms are still haemorrhaging 250,000 [pounds sterling] a day in this area, according to the Carbon Trust.(Insight: Environmental issues)
September 1, 2008... Energy efficiency is now the number one cost-cutting priority for businesses looking to combat the impact of a potential economic slowdown, according to new research released by the Carbon Trust. But with leisure businesses still wasting nearly...

Making the connection ... how one operator is putting energy-efficient measures into practice.(Insight: Environmental issues)
September 1, 2008... Paul Bailey, head of property services at Leisure Connection, explains how his firm is pressing ahead with energy-saving measures. "Businesses need to positively address environmental issues to a much greater extent. The sports and leisure...

Arena 'on track' despite posting 41% profit fall.(News: Betting & gaming)(Arena Leisure)(Financial report)
September 1, 2008... Arena Leisure, operator of seven racecourses and one quarter of the UK's annual horseracing fixtures, said pretax profits fell by 41% to 1.4m [pounds sterling] in the six months to 30 June 2008, as a 1m [pounds sterling] one-off finance expense...

Rank 'cautious'.(News: Betting & gaming)(Rank Group PLC)(Financial report)(Brief article)
September 1, 2008... Rank Group said it is "cautious about the outlook for the rest of the year" after reporting a fall in pre-tax profits for the six months to 30 June. Profits fell to to 17.6m [pounds sterling], from 37.3m [pounds sterling] the prior year....

No bid for GVC.(News: Betting & gaming)(Audley Capital Management)(Gaming VC Holdings)(Brief article)
September 1, 2008... Gaming VC Holdings said that it "has been informed by the party which made the preliminary approach 17 April that it does not wish to proceed with an offer for the company at this time". GVC confirmed that it is continuing to trade in line...

Telephone betting weighs on William Hill.(News: Betting & gaming)
September 1, 2008... William Hill has posted first-half earnings in line with expectations, but said profits before finance charges and exceptional items fell by 10% to to 145.1m [pounds sterling], as costs related Turf TV and a "disappointing" performance from the...

Inspired eyes Americas after sale of pubs arm.(News: Betting & gaming)
September 1, 2008... Inspired Gaming International (Inspired), part of Inspired Gaming Group, is bringing its Virtual Racing suite of products to more than 1,000 venues across South America, through a revenue share agreement it has signed with Caliente, the leading...

Ladbrokes' Turk bid falls short.(News: Betting & gaming)
September 1, 2008... The Inteltek venture of Greece's Intralot and Turkish mobile phone operator Turkcell has made the best bid in the second and final round of a tender to operate the Turkish sports betting company Iddaa, the tender commission chairman said. ...

AsianLogic to roll out network across China.(News: Betting & gaming)
September 1, 2008... AsianLogic, the UK-listed diversified Asia-Pacific online and land-based gaming company, has signed a joint marketing and operation agreement with C Y Foundation Group, which will see its network offer play for points games, in addition to...

Chief executive Birch quits Leisure & Gaming, hands reins to Creed.(News: Betting & gaming)(Henry Birch)(Richard Creed)(Brief article)
September 1, 2008... Leisure & Gaming (L&G) said that following the successful turnaround of the company to a stable and profitable position, chief executive Henry Birch has decided to step down from the board to pursue other interests. Richard Creed, L&G's...

Next Gen eyes cost and carbon cuts.(News: Health, fitness & sport)
September 1, 2008... Next Generation, incorporating David Lloyd Leisure, is set to save 900,000 [pounds sterling] and cut carbon emissions by 16,060 tonnes annually following a major green energy deal with Ener-g. Ener-g will install and maintain all Next...

US figures provide cheer for fitness market.(News: Health, fitness & sport)
September 1, 2008... A recently-conducted survey of 18 leading US health and sports club companies has found that commercial health club financial performance improved for the first quarter to 31 March, relative to the same period last year. The survey,...

PT market shrugs off downturn.(News: Health, fitness & sport)(personal training)(Survey)(Brief article)
September 1, 2008... Despite the threat of increasingly difficult market conditions, the personal training business continues to thrive, according to new research conducted by Escape Fitness. Escape's survey of professionals working in the UK health and...

Esporta sale to drag on for a year?(News: Health, fitness & sport)(Brief article)
September 1, 2008... Grant Thornton, the administrators handling the sale of Esporta's parent companies, has asked for up to another year to sell the troubled gym chain, as the uncertain economic conditions have made finding a buyer for the chain's 55-strong estate...

DC Leisure caters for all tastes.(News: Health, fitness & sport)
September 1, 2008... DC Leisure has launched into the contract catering market under the trademark of 'Centre Catering' providing a dedicated catering service to the Local Authority leisure sector. Specialising in leisure centres and theatres, Centre Catering...

Goals nets a strong result with 20% profit rise.(News: Health, fitness & sport)(Goals Soccer Centres)(Financial report)
September 1, 2008... Goals Soccer Centres, the operator of 'next generation' five-a-side soccer centres across the UK, scored a 20% rise in pre-tax profits, to 3.7m [pounds sterling] (2007: 3.1 m [pounds sterling]), on the back a an 18% increase in sales to 11.4m...

SHOKK brings CRM to youth market.(News: Health, fitness & sport)
September 1, 2008... Youth Activity specialist SHOKK is aiming to bring customer relationship management software to its target youth market. The firm has installed its Tactics Premium system in a number of venues, in a bid to treat the younger demographic with the...

Survey reveals true value of fitness qualifications.(News: Health, fitness & sport)(Survey)(Brief article)
September 1, 2008... A recent student survey from Lifetime has revealed the value of undertaking fitness qualifications with a reputable provider. Upon completion of the various courses, almost 70% of students either started their own business or gained...

BMF pushing 'green' fitness.(News: Health, fitness & sport)
September 1, 2008... British Military Fitness (BMF), the military-style fitness provider, is pushing its limited carbon footprint exercise offer as an alternative to gyms. "Our sessions last 60 minutes, outside in the fresh air and comprise of a variety of...

Overseas visitors fall, but 'stay-cations' rise.(News: Tourism & attractions)
September 1, 2008... Visits to the UK by overseas residents decreased by 5% during April to June 2008, when compared to the previous quarter, according to the latest figures released today by the Office for National Statistics. Visitor numbers were down by 4%...

Lo-Q reports sharp rise in first-half profits.(News: Tourism & attractions)(Financial report)
September 1, 2008... Lo-Q, the theme park and attractions supplier, said its first-half profits increased sharply, lifted by the strengthening US dollar, but warned that the worsening economic climate could slow its progress. For the six months to 30 June 2008,...

VisitBritain to assess green tourism credentials scheme.(News: Tourism & attractions)
September 1, 2008... VisitBritain has begun evaluating its Green Start pilot scheme, aimed at helping tourism bodies become more environmentally friendly. The tourism body set up Green Start in March and signed up 200 companies from across the UK, ranging from...

Tourism funding row is reignited.(News: Tourism & attractions)
September 1, 2008... UKinbound has attacked the government's declaration that the travel industry should be responsible for marketing the UK in the run up to the 2012 Olympic Games, reigniting the furore over the Departure of Culture, Media and Sport's decision to...

Bid talks continue as Georgica posts 1.9% fall in same-outlet sales.(News: Cinema & entertainments)(Financial report)
September 1, 2008... UK tenpin operator Georgica said that takeover talks were ongoing, as it reported a 1.9% fall in yearly same outlet sales for the 26 weeks to 29 June 2008. The firm said that: "Until the end of April sales were reasonably strong, same...

Bollywood giant eyes Reel deal.(News: Cinema & entertainments)(Pyramid Saimira Group)(Reel Cinemas)(Brief article)
September 1, 2008... Pyramid Saimira Group, one of the leading players in the Indian cinema market, is in talks to take control of Reel Cinemas, in a deal that would value the British company at between 25m [pounds sterling] and 30m [pounds sterling], according to...

Expanding Lucky Voice hits the right notes.(News: Cinema & entertainments)
September 1, 2008... Lucky Voice--the private room karaoke concept--opened a new bar in Islington at the end of August, and plans another in Brighton in 2009. Nick Thistleton, Lucky Voice's managing director, said the rollout of extra venues showed the...

Cineworld continues to impress with H1 numbers.(News: Cinema & entertainments)(Financial report)
September 1, 2008... Cineworld Group, the listed UK cinema operator, has reported a 0.9% increase in group revenues to 137m [pounds sterling] for the six months to 26 June, with operating profit for the period up by 19.5% to 14.1m [pounds sterling]. The group...

'Yes' vote for 390m [pounds sterling] YES! project.(News: Property & development)
September 1, 2008... The team behind plans to create Europe's largest covered leisure, entertainment and sports complex cleared the final hurdle in August. AIM-listed developer Oak Holdings and Rotherham Metropolitan Borough Council signed the crucial legal...

Portfolio of landmark Aussie resorts on sale.(News: Property & development)
September 1, 2008... A portfolio of some of the world's leading resorts, including the Ayers Rock Resort near Uluru and Queensland's Lizard and Bedarra Islands, are to be offered for sale through Jones Lang LaSalle Hotels. David Gibson, chief executive Asia...

Gateshead seeks development partner for ambitious scheme.(News: Property & development)
September 1, 2008... Gateshead Council has launched a search for a development partner to help it transform Gateshead International Stadium into a world-leading sports village. The proposed 7-acre development would offer a range of new sporting facilities to...

Gren bank goes green.(Bricks and mortar)
September 1, 2008... Green Bank Leisure Centre, Swadlincote, Derbyshire has cut its electricity bill and carbon footprint in trim after equipping its sports hall with an energy saving lighting system. The energy-efficient system has cut the centre's lighting bills...

New Expressions refits.(Bricks and mortar)
September 1, 2008... The New Expressions health and fitness centre at Rushcliffe Arena in Nottingham has opened its 80,000 [pounds sterling] refurbished fitness suite.

Lensbury upgrades.(Bricks and mortar)(Brief article)
September 1, 2008... The 10,000-member Lensbury club at at Teddington Lock, London, is upgrading its gym in partnership with Life Fitness. The club is investing more than 200,000 [pounds sterling] in equipping its 380sq m adults-only gym. The gym is housed in...

New look for Harpers.(Bricks and mortar)(Leisure Connection)(Brief article)
September 1, 2008... Leisure Connection re-launched the first new-look Harpers fitness gym at its flagship site, the Riverside Swimming Centre in Norwich, on 14 August. This forms part of a new nationwide initiative to re-brand all Harpers gyms to offer customers...

New 1.2m [pounds sterling] spa for Yorks.(Bricks and mortar)
September 1, 2008... The Feversham Arms Hotel in North Yorkshire, has invested 1.2m [pounds sterling] in its new Verbena Spa, with Dalesauna responsible for the heat experience rooms including aromatherapy, salt vapour, ice cave, and foot spa. It will open in...

High Xpectations.(Bricks and mortar)
September 1, 2008... Xpect Health and Fitness, in Braintree, Essex, has upgraded its fitness suite in a project with Life Fitness. The company has invested 300,000 [pounds sterling] in the project.

Credit crunch sees consumers begin to rein in eating-out spend.(News: Food & drink)
September 1, 2008... Eating out, take-aways and nights in the pub will be among the first consumer activities to be chopped in the wake of the downturn, research by PricewaterhouseCoopers LLP (PwC) has revealed, but restaurants are fitter and better placed to...

'Scores on doors' scheme delayed.(News: Food & drink)(Brief article)
September 1, 2008... Further evidence is needed before a decision can be made on the introduction of a national 'Scores on the Doors' scheme, the Food Standards Agency (FSA) has been warned. The announcement by the Chartered Institute of Environmental Health...

Alton Towers' food is praised.(News: Food & drink)(Report)(Brief article)
September 1, 2008... Alton Towers, the UK theme park, was praised in a report in the September issue of WHICH? Holiday. The report looked at the quality of food at leading UK visitor attractions, and particularly the availability of healthier options, and how...

Starbucks' bosses to miss out on pay rises.
September 1, 2008... Top executives at Starbucks will not be getting a pay rise--according to a leaked memo. Reuters reports that bosses will miss out on bonuses after the coffee chain's first-ever quarterly loss as a public company. Eligible US assistant store...

Subway goes upmarket.(Brief article)
September 1, 2008... Subway, the global sandwich chain, is testing an upscale cafe version of the quick-service format that could be rolled out if successful. A Subway regional developer is trialling the new concept in the Washington DC area. In addition to its...

Rising costs weigh on BK.
September 1, 2008... Increased costs for food supplies and paper saw profit margins at Burger King, the US fast food giant, narrow in the fourth quarter. Although the firm has raised prices by 3.2% in the past year, margins in the fourth quarter to the end of June...

LR Index leisure stockwatch August 2008.(Sharewatch)
September 1, 2008... From last month's 'Stop all the clocks' stock market misery, what a welcome relief to instead cry 'stop the press!'--but it's true, August has seen an overall improvement in the monthly average, several stocks making significant gains, and...

Devilfish Gaming.(People on the move)
September 1, 2008... Devilfish Gaming unveiled the appointment of David Boden as executive chairman, with immediate effect. He will succeed Kevin Leach, who will remain on the board as a non-executive director. Boden began his career with Mecca Leisure in 1977 and...

Sportech.(People on the move)(Company overview)
September 1, 2008... Sportech has appointed Will Muirhead as managing director of the company's online football gaming businesses, Footballpools.com. Muirhead has been appointed to realise Sportech's competitive growth strategy. He will be responsible for...

Leisure Connection.(People on the move)
September 1, 2008... Leisure Connection has bolstered its central brands team with the appointment of Chris Sharman as national programming manager, heading up the programming across all of Leisure Connection's 60 plus sports centres. Sharman has spent a number of...

New Media Lottery Services.(People on the move)
September 1, 2008... New Media Lottery Services has appointed Jane Dresner Sedaka to the board as non-executive director, effective 25 August. Dresner Sadaka has extensive financial experience having held executive positions at Kellner, Dileo & Co, and Donaldson,...

Millwall Holdings.(People on the move)
September 1, 2008... Millwall Holdings, parent of Millwall Football Club, has announced that Stewart Till, a non-executive director, is stepping down from the board, with immediate effect, in order to concentrate on establishing his new film business.

Sheffield City Trust.(People on the move)(Paul Blomfield retired)(Brief article)
September 1, 2008... Paul Blomfield has retired from his position as chairman of Sheffield City Trust (SCT) after 11 years of service. SCT is a charitable trust, which provides recreation and leisure facilities for the benefit of people in Sheffield. Its subsidiary...

SHOKK.(People on the move)
September 1, 2008... SHOKK, the global leader in youth activity, has further strengthened its marketing team with the appointment of a new PR executive. Clare Pickford brings a wealth of experience to the role, having worked across Europe for four years in several...

The International Health, Racquet & Sportsclub Association.(People on the move)
September 1, 2008... The International Health, Racquet & Sportsclub Association (IHRSA) announced the departure of Chuck Leve, vice president of business development, effective 31 August. A 27-year IHRSA employee, Leve leaves to launch a new association, which...

Diary dates: Sep/Oct.
September 1, 2008... September Event: SIBEC North America Date: 18-21 Location: Dallas, Texas, US Description: A one-on-one meeting forum between owners, operators, CEOs and COOs of health, recreation, sports and fitness organisations and leading...