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Silverstone secures British F1 GP deal
Fuller's sales boosted
Northamptonshire circuit wins the right to host the event for a further 17 years
by good weather
Good weather in south east By Pete Hayman
England during the summer has
helped pub company Fuller, Silverstone has secured the
Smith and Turner to boost long-term future of the British
pre-tax profits by more than a Grand Prix after the Northamp-
quarter during the 26 weeks tonshire venue and the British
ending 26 September 2009. Racing Drivers' Club (BRDC)
Compared with the same period agreed a deal with Formula
last year, the London-based One supremo, Bernie Ecclestone.
company reported a 2.8 per cent The agreement will ensure
increase in like-for-like sales at that Silverstone, which staged
its managed pub and hotels its first grand prix in 1948, will
business, helped by low interest continue to be the home of the
rates and incremental earnings British leg of the Formula One
from acquisitions. Fuller's has World Championship for a The deal will see the British F1 GP hosted at Silverstone until 2026
now expanded its estate of further 17 years starting in
managed properties to 489 sites.. 2010. It has been the sole host Formula One Management's Concerns had been raised
of the event since 1986. Bernie Ecclestone added: "This over the future of the British
New owners for three
BRDC president Damon Hill will ensure that Great Britain Formula One Grand Prix after
West Midlands casinos
said: "This long term contract will remain on the Formula One the operator of Donington Park
Edward Symmons has will enable us to continue with calendar for many years to in Leicestershire, Donington
confirmed that it has completed our plans to develop Silver- come, which is something I Ventures Leisure Limited (DVLL)
the sale of three casinos across stone into a world class facility, have personally always wanted was forced into administration
the West Midlands formerly bringing the venue into line to see happen. The team at in November 2009 having
operated by Blue Chip Casinos, with the very best sports Silverstone already knows how failed in a bid to raise £135m
which went into administration facilities in the world for the to organise a good event, so to fund a major revamp of the
earlier this year. Acting on benefit of all race goers, teams, now everyone can look forward venue in preparation for
behalf of joint administrators drivers and fans." to next summer at Silverstone." Formula One racing.
Michael Kiely, Peter Kubik and
Andrew Adronikou of UHY
New manifesto
Hacker Young, Edward Symmons
has sold freehold sites in Dudley
for pub industry
Bids are in for Lottery operator
and Wolverhampton to A new manifesto, which By Martin Nash
Aberystwyth-based Casino 36 for has been designed to help
£2.9m. The 11,480sq ft (1,067sq secure the future of the Prospective bidders for the
m) Wolverhampton property and UK pub sector, has been majority stake in National
the 10,775sq ft (1,001sq m) drawn up by the British Lottery operator Camelot – re-
Dudley property have been Beer and Pub Association ported to be more than 20 –
offloaded as going concerns, and the Society of have submitted their bids after
each including gaming machines, Independent Brewers. a deadline was set for 18
casino tables and equipment. The document puts November. The deadline had
forward a range of been extended, following
Ladbrokes to close
policies, including delays in documentation. Camelot has operated the
Aintree call centre
decreasing duty on lower Four of the five equal National Lottery since 1994
UK bookmaker Ladbrokes has strength beers, increasing shareholders in Camelot – Cad-
unveiled proposals to close its support for pubs serving bury, Thales Electronics, De La Potential bidders are said to
call centre operations at Aintree, food and scrapping Rue and Fujitsu – have include private equity bodies;
Liverpool, in a response to proposals to increase duty appointed NM Rothschild and foreign lottery operators, such
increasing competition from by 2 per cent above Greenhill and Co. to put their as Sugal & Damani which bid
offshore companies. A inflation. A new campaign stakes up for sale. for the current license two
spokesperson for the company – I'm backing the pub – The fifth, Royal Mail, has also years ago; and Sir Richard
said its telephone business saw a has also been launched in bowed under pressure from the Branson's Virgin Group, whose
41 per cent fall in revenue in its support of the pub sector. other four and agreed to People's Lottery bid has lost
2009 half-year results. offload its 20 per cent stake. out twice in the past.
8 Read Leisure Opportunities online © Cybertrek 2009
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