commercial
news & jobs at www.leisureopportunities.co.uk
BAA triumphs in airport sale appeal
in BRief
Tribunal sides with airport owner on accusations of Competition Commission "bias"
Orchid completes
Premium deal
By Pete Hayman a Independent pub and
restaurant group, Orchid, has
BAA has succeeded in its appeal completed the acquisition of 43
against a order to sell off three sites previously operated by
of its UK airports, after a Premium Bars & Restaurants,
tribunal agreed that the which entered administration
Competition Commission (CC) earlier this year. The deal will
had been influenced by "bias" increase the number of
in its original ruling. properties within the Orchid
In March, the commission portfolio to 292. The acquisition
ordered the airport operator to includes The Living Room and
sell off Gatwick, Stansted and Prohibition brands and a
either Edinburgh or Glasgow in workforce of more than 1,500
the interests of passengers and Stansted airport, one of the airports placed on BAA's "selling list" people. The deal is part of
airlines, although the BAA Orchid's strategy of acquiring
appealed the decision on the Group (MAG) – a potential whether BAA should be forced distressed assets and the second
grounds that the commission bidder for BAA assets. to sell Stansted and either such deal this year after Orchid
had not been impartial in its According to the CAT Edinburgh or Glasgow, with the took over Bar Room Bar –
inquiry. The Competition judgement, a "fair-minded" Spanish-owned operator having another group in administration.
Appeals Tribunal (CAT) ruled observer would see a "real already offloaded Gatwick to
"unanimously" in favour of possibility" of bias due to Global Infrastructure Partners
Second tax victory
BAA's claim that Professor Peter Moizer's involvement, with in October irrespective of the
for Rank Group
Moizer's inclusion as part of the MAG wholly owned by the 10 CC ruling. Bingo hall and casino operator
inquiry team had led to local authorities of Greater A BAA spokesperson said: Rank Group has won a second
"apparent bias" due to his role Manchester, which governs the "We are pleased that the case against HM Revenue and
as an advisor to the Greater Greater Manchester Pension Competition Appeal Tribunal Customs after a tribunal ruled
Manchester Pension Fund, Fund. Both sides will now be upheld our appeal on the that the company was entitled
linked to Manchester Airports given more time to discuss grounds of apparent bias." to a VAT refund totalling nearly
£26m. According to the VAT and
Council secures
Duties Tribunal, HM Revenue
and Customs breached European
Bluestone stake
Silverstone receives £10m loan
Union rules on fiscal neutrality
Pembrokeshire County By Pete Hayman due to different levels of VAT
Council has confirmed that applied to jackpot and other
it has been granted an Northamptonshire County similar machines.
equity share in the Council (NCC) is set to provide
Bluestone eco-resort as a £10m loan to help fund
888.com confirms
part of a financial major improvement work at
Wink Bingo acquisition
restructuring at the South Silverstone after it was Online gaming and
Wales holiday village. confirmed the venue will entertainment company 888.
Situated near Narberth remain as the home of the com has reached an agreement
in the centre of Pembroke- British Formula One Grand Prix. The track will undergo a with Daub to acquire the Wink
shire Coast National Park, Earlier this month, the motor complete redevelopment Online Bingo business in a deal
the £110m Bluestone racing circuit and the British worth up to £60m. The
eco-resort opened in Racing Drivers' Club secured a and paddock complex and the acquisition, which includes the
August 2008 and boasts a deal with Formula One council's cabinet has now Wink Bingo, Posh Bingo and
fitness centre, a spa, a supremo Bernie Ecclestone to agreed in principle to help Bingo Fabulous networks, forms
sports club and waterpark. retain the right to stage the fund the scheme in order to part of the Gibraltar-based
Last month, the resort British leg of the Formula One allow work to get underway. firm's efforts to expand further
announced it had secured World Championship for a NCC leader Jim Harker said: into the UK online bingo
around £10m of new further 17 years. "The Grand Prix attracted 9,000 market. Wink Bingo posted
investment to fund the However, the deal is subject visitors last year, with a total of pre-tax profits of £1.3m and
next stage of development. to Silverstone undertaking a £44.4m being spent in the revenues of £15m for the 11
major redevelopment of the pit county as a result of the event." months to 30 November 2009.
© Cybertrek 2010 Read Leisure Opportunities online www.leisureopportunities.com/digita l 11
Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32