Commercial news
Cineworld to complete digital rollout
Cineworld Group is to complete its digital roll-out across the UK and Ireland by the end of the summer 2012, with more than 75 per cent of its estate currently using digital projectors. T e news comes as the group revealed
it had become the number one cinema operator in 2011, with revenues and pre- tax profi ts increasing by 1.5 per cent and 9.9 per cent respectively. Admissions across the Cineworld estate were up 2.3 per cent when compared with 2010 to 48.3m, while box offi ce sales grew by 2.7 per cent to £242m. Details:
http://lei.sr?a=L7X8H
Aspers secures MK casino deal
A new casino to be devel- oped in Milton Keynes will be operated by Aspers aſt er the group was announced as the successful applicant by Milton Keynes Council (MKC). The award means that
Aspers can now apply for a large casino licence, with the proposed venue to deliver a £10m investment within the existing Xscape complex. Gaming t ables and
machines will form part of the casino, along with entertain- ment, dining and bars. MKC will receive at least £500,000 per year for the entire lifespan of the facility. T e council’s licensing sub-com- mittee resolved to grant Aspers the provisional statement aſt er the group’s bid was judged to off er the “best all round package”. “It will provide not only a new, completely diff erent, yet responsibly managed, kind of
Rank Group owns and operates Mecca Bingo
Rank ends Gala Coral casino talks
Rank Group, the owner of the Grosvenor Casinos and Mecca Bingo brands, has terminated discussions over the possible acquisition of Gala Coral Group’s casino arm. Earlier this year, Rank announced it had entered into talks over the purchase of Gala Coral’s 24 Gala Casinos across the UK in a deal worth around £250m. However, Rank said that it had ended
discussions “aſt er it became clear that the proposed terms of the acquisition would not serve the best interest of Rank’s share- holders”. Details:
http://lei.sr?a=D4D9O
John Penrose outlines benefi ts of Tote sale
A charity and a grant scheme are to be established in order to distribute the £90m allocated to the racing industry following last year’s sale of the Horserace Totalisator Board (Tote). John Penrose, minister with responsibility for horseracing, has announced plans which he said are “mak- ing good” on a pledge made with regards to proceeds from the £265m deal. T e charity – T e Racing Foundation –
will support good causes, while the grant scheme aims to benefi t State Aid-compliant projects. Details:
http://lei.sr?a=f5u2k
10 Aspers held off competition from two other bidders for the MK site
leisure facility for Milton Keynes, but numer- ous associated facilities and benefi ts for the local community,” said a council spokesperson. “T is outcome has been the result of two years’ work by a small team of council offi cers and advisers.” Details:
http://lei.sr?a=w9b5x
OFT: Groupon ‘not complying’ with UK law
Daily discount voucher com- pany Groupon has been found to be breaking UK consumer rules and has been given three months to change and improve its practices. T e Offi ce of Fair Trading
(OFT) found “widespread examples” where Groupon was seen to breach consumer protection regulations. Announcing the fi ndings
of its investigation on 16 March, the OFT said that it has specifi c concerns over practices involv- ing reference pricing, advertising, refunds, unfair terms, and the diligence of its inter- actions with merchants. A July deadline has now been imposed by the OFT for Groupon to changes its practices to comply with UK law. OFT has not yet ruled out the possibility of legal action against Groupon.
T e OFT made a series of recommendations to Groupon in its fi ndings Groupon responded to the news with a
lengthy statement on the company blog, admit- ting the breaches and apologising to customers who had “experienced the negative side eff ects” of the company’s growth. T e statement also lists each OFT point of concern and how Groupon plans to rectify the issues. Read more:
http://lei.sr?a=a1g3D
Goals Soccer Centres in Canadian takeover bid
Goals Soccer Centres, the fi ve-a-side football facility operator, has revealed that it is the sub- ject of a takeover approach from Canada-based Ontario Teachers’ Pension Plan. In response to media speculation, the group said it had received a preliminary approach
Read Leisure Management online
leisuremanagement.co.uk/digital
from the pension fund but could not confi rm an off er would be submitted. T e announcement comes just over a month
aſt er Goals Soccer Centres reported a “year of progress and change” in 2011. Details:
http://lei.sr?a=U2m0y
ISSUE 2 2012 © cybertrek 2011
image: 18percentgrey/shutterstock
image: juan camilo bernal/
shutterstock.com
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