The UK's two most prominent operators of five-a-side football pitches are examining a surprise merger that would create a major international leisure player.
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Sky News has learnt that stock market-listed Goals Soccer Centres and privately owned Powerleague have been discussing a combination of the two businesses.
Rank Group, the embattled Mecca bingo and Grosvenor casino operator, was forced to rush out a profit warning this afternoon after calculating that changes to bingo duty and poker taxation announced in. The operator of Mecca bingo clubs and Grosvenor casinos issued a shock profit warning in October, three months after the imposition of the smoking ban, which has been particularly negative for its.
It was unclear on Saturday what stage any discussions were at and what the likelihood of an eventual deal was.
A tie-up between Goals and Powerleague, which between them operate roughly 100 sites, would significantly increase their UK presence, as well as bringing under one corporate umbrella their venues in Ireland, the Netherlands and the US.
It was also unclear this weekend whether their substantial combined presence in the UK would trigger any competition issues, or how these might be addressed.
Goals, which was loss-making in 2015, returned to profit last year, and appointed Mark Jones, a former Grosvenor Casinos executive, as its new boss.
It also raised nearly £17m from investors to pay down debt.
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The company has a market capitalisation of just under £77m.
Powerleague trades from more than 750 football pitches, and also owns Powerplay, a league operator across 240 UK venues.
In addition to football, it has a multi-sport offering including basketball, dodgeball and netball.
The company was bought by Patron Capital Partners, which focuses on buying businesses with substantial real estate assets, in 2009 in a deal which put an enterprise value on Powerleague of about £80m.
Previously listed on the London stock market, Powerleague has been expected to be put up for sale by Patron for some time.
The structure of a deal between Goals and Powerleague has yet to be finalised, according to insiders.
(Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Tuesday.
FTSE 100 - WINNERS
Whitbread, up 2.0%. UBS raised the Premier Inn hotel chain owner to Buy from Neutral. Online gambling ontario canada casino.
FTSE 250 - WINNERS
List of indian poker sites.
Hays, up 5.0%. The recruiter said it delivered a 'solid' third quarter of modest growth despite increasingly challenging economic conditions across a number of key markets. For the three months ended September, net fees grew 1% on a reported and were flat on a life-for-like basis. Growth was helped by strength in its largest segment, Rest of World - representing a third of total net fees - which was 7% higher on a reported basis and 4% up like-for-like. This was driven by 'record' net fees levels in both the US and China as well as stable growth in Europe, the Middle East & Africa and 'good' growth in the Americas and Asia. Net cash at the end of the quarter stood at GBP90 million, up from GBP80 million the year prior.
Dunelm Group, up 4.3%. RBC Capital raised the home furnishings company to Sector Perform from Underperform.
Rank Group, up 2.9%. The gambling company said net gaming revenue rose in the first quarter, helped by a strongly performing digital segment and positive trading from the Grosvenor Casinos brand. In the period to September 30, net gaming revenue rose by 9% in total and by 10% on a like-for-like basis, both on a year before. Digital net gaming revenue grew by 16%, helped by strong trading from both Grosvenor, and Rank's Mecca Bingo brand. Grosvenor, which aside from digital gaming, also operates a chain of 55 casinos in the UK, had a 15% like-for-like net gaming revenue rise in its venues when compared with the first quarter of last year. The first quarter is traditionally the brand's strongest quarter, though last year's comparative was weak, Rank added.
Grosvenor Casino Profit Warning 2019
FTSE 250 - LOSERS
Vesuvius, down 12%. The molten flow engineering company said annual trading profit will be between 3.7% to 8.7% lower year-on-year, due to continuation of weakening in key end markets. The company, which supplies products to the steel and foundry industries, said that trading profit, or earnings before interest and taxes, for 2019 will be between GBP180 million and GBP190 million, down from GBP197.2 million recorded in the year ago period. In July, the company said trading profit for 2019 is expected to be broadly in-line with market expectations, assuming a stabilisation of end markets and supported by acceleration of cost optimisation activities. Vesuvius on Tuesday said its core steel and foundry divisions have been hurt by production cuts by steelmakers and the further lowering of vehicle production estimates.
Renishaw, down 11%. The precision instruments maker said challenging trading conditions and the non-repeat of large orders led to a sharp year-on-year drop in first-quarter revenue and profit. Renishaw said revenue for the three months to September 30 fell 19% to GBP124.6 million from GBP154.0 million a year ago, with core metrology business revenue dropping to GBP119.7 million from GBP147.4 million. Revenue from smaller healthcare business fell to GBP4.9 million from GBP6.6 million. The drop in healthcare business revenue was blamed upon the timing of some machine sales. As a result, Renishaw's quarterly pretax profit dived 85% to GBP5.1 million from GBP33.5 million a year ago. Adjusted pretax profit dropped to GBP4.3 million from GBP32.6 million. Renishaw expects trading conditions to remain challenging through the remainder of financial 2020 due to uncertain global economic environment.
OTHER MAIN MARKET AND AIM - WINNERS
Eland Oil & Gas, up 37% at 164.20 pence. Seplat Petroleum Development Co agreed a GBP382 million purchase of fellow Nigeria-focused energy firm Eland Oil & Gas, the companies said. Seplat has offered 166 pence per Eland share, a 29% premium to Eland's closing price in London on Monday. Eland shares were 28% higher Tuesday morning at 164.80p. Eland shareholders will also be able to still receive the 1p interim dividend previously declared. Seplat owns assets in the Niger Delta region of Nigeria, as does Eland. Seplat produced 49,867 barrels of oil equivalent per day in 2018, while Eland's was 8,000 barrels per day. Seplat will fund the acquisition via existing cash as well as with a new loan facility. Seplat shares were up 1.4%.
Indivior, up 8.5%. The drugmaker boosted its full-year guidance for a second time following growth in market share of its opioid addiction medication Suboxone, but warned on the impact of newly passed legislation in the US. 2019 revenue is now expected to be in the range of USD750 million to USD790 million after already having boosted revenue guidance in July to between USD670 million and USD720 million. Last year, Indivior reported revenue of USD1.01 billion, so the company is forecasting a decline of between 21% to 25%. Net income guidance, before exceptional items and the effects of foreign exchange, was hiked to between USD160 million to USD190 million. This would represent a year-on-year fall of between 31% to 42% after posting net income of USD275 million last year. Indivior previously predicted 2019 net income of between USD80 million and USD130 million.
Grosvenor Casino Profit Warning Signs
OTHER MAIN MARKET AND AIM - LOSERS
Woodford Patient Capital Trust, down 7.3%. Link Fund Solutions is to return cash to investors after winding up the LF Woodford Equity Income Fund, it said. Hidden slot canyons utah map. Link has decided not to re-open the fund and will be winding it up 'as soon as practicable', being January 2020. The LF Woodford Equity Income Fund also will drop the Woodford name and will be called LF Equity Income Fund. Woodford Investment Management will cease with immediate effect to be the investment manager of LF Woodford Equity Income Fund. Woodford Investment Management also manages closed-ended Woodford Patient Capital Trust, which repeated Tuesday it is reviewing its own management arrangements and will make an announcement 'in due course'.
Grosvenor Casino Profit Warning Report
Hays, up 5.0%. The recruiter said it delivered a 'solid' third quarter of modest growth despite increasingly challenging economic conditions across a number of key markets. For the three months ended September, net fees grew 1% on a reported and were flat on a life-for-like basis. Growth was helped by strength in its largest segment, Rest of World - representing a third of total net fees - which was 7% higher on a reported basis and 4% up like-for-like. This was driven by 'record' net fees levels in both the US and China as well as stable growth in Europe, the Middle East & Africa and 'good' growth in the Americas and Asia. Net cash at the end of the quarter stood at GBP90 million, up from GBP80 million the year prior.
Dunelm Group, up 4.3%. RBC Capital raised the home furnishings company to Sector Perform from Underperform.
Rank Group, up 2.9%. The gambling company said net gaming revenue rose in the first quarter, helped by a strongly performing digital segment and positive trading from the Grosvenor Casinos brand. In the period to September 30, net gaming revenue rose by 9% in total and by 10% on a like-for-like basis, both on a year before. Digital net gaming revenue grew by 16%, helped by strong trading from both Grosvenor, and Rank's Mecca Bingo brand. Grosvenor, which aside from digital gaming, also operates a chain of 55 casinos in the UK, had a 15% like-for-like net gaming revenue rise in its venues when compared with the first quarter of last year. The first quarter is traditionally the brand's strongest quarter, though last year's comparative was weak, Rank added.
Grosvenor Casino Profit Warning 2019
FTSE 250 - LOSERS
Vesuvius, down 12%. The molten flow engineering company said annual trading profit will be between 3.7% to 8.7% lower year-on-year, due to continuation of weakening in key end markets. The company, which supplies products to the steel and foundry industries, said that trading profit, or earnings before interest and taxes, for 2019 will be between GBP180 million and GBP190 million, down from GBP197.2 million recorded in the year ago period. In July, the company said trading profit for 2019 is expected to be broadly in-line with market expectations, assuming a stabilisation of end markets and supported by acceleration of cost optimisation activities. Vesuvius on Tuesday said its core steel and foundry divisions have been hurt by production cuts by steelmakers and the further lowering of vehicle production estimates.
Renishaw, down 11%. The precision instruments maker said challenging trading conditions and the non-repeat of large orders led to a sharp year-on-year drop in first-quarter revenue and profit. Renishaw said revenue for the three months to September 30 fell 19% to GBP124.6 million from GBP154.0 million a year ago, with core metrology business revenue dropping to GBP119.7 million from GBP147.4 million. Revenue from smaller healthcare business fell to GBP4.9 million from GBP6.6 million. The drop in healthcare business revenue was blamed upon the timing of some machine sales. As a result, Renishaw's quarterly pretax profit dived 85% to GBP5.1 million from GBP33.5 million a year ago. Adjusted pretax profit dropped to GBP4.3 million from GBP32.6 million. Renishaw expects trading conditions to remain challenging through the remainder of financial 2020 due to uncertain global economic environment.
OTHER MAIN MARKET AND AIM - WINNERS
Eland Oil & Gas, up 37% at 164.20 pence. Seplat Petroleum Development Co agreed a GBP382 million purchase of fellow Nigeria-focused energy firm Eland Oil & Gas, the companies said. Seplat has offered 166 pence per Eland share, a 29% premium to Eland's closing price in London on Monday. Eland shares were 28% higher Tuesday morning at 164.80p. Eland shareholders will also be able to still receive the 1p interim dividend previously declared. Seplat owns assets in the Niger Delta region of Nigeria, as does Eland. Seplat produced 49,867 barrels of oil equivalent per day in 2018, while Eland's was 8,000 barrels per day. Seplat will fund the acquisition via existing cash as well as with a new loan facility. Seplat shares were up 1.4%.
Indivior, up 8.5%. The drugmaker boosted its full-year guidance for a second time following growth in market share of its opioid addiction medication Suboxone, but warned on the impact of newly passed legislation in the US. 2019 revenue is now expected to be in the range of USD750 million to USD790 million after already having boosted revenue guidance in July to between USD670 million and USD720 million. Last year, Indivior reported revenue of USD1.01 billion, so the company is forecasting a decline of between 21% to 25%. Net income guidance, before exceptional items and the effects of foreign exchange, was hiked to between USD160 million to USD190 million. This would represent a year-on-year fall of between 31% to 42% after posting net income of USD275 million last year. Indivior previously predicted 2019 net income of between USD80 million and USD130 million.
Grosvenor Casino Profit Warning Signs
OTHER MAIN MARKET AND AIM - LOSERS
Woodford Patient Capital Trust, down 7.3%. Link Fund Solutions is to return cash to investors after winding up the LF Woodford Equity Income Fund, it said. Hidden slot canyons utah map. Link has decided not to re-open the fund and will be winding it up 'as soon as practicable', being January 2020. The LF Woodford Equity Income Fund also will drop the Woodford name and will be called LF Equity Income Fund. Woodford Investment Management will cease with immediate effect to be the investment manager of LF Woodford Equity Income Fund. Woodford Investment Management also manages closed-ended Woodford Patient Capital Trust, which repeated Tuesday it is reviewing its own management arrangements and will make an announcement 'in due course'.
Grosvenor Casino Profit Warning Report
Grosvenor Casino Profit Warning Template
By Arvind Bhunjun; arvindbhunjun@alliancenews.com
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