Dominic Walsh: City Diary
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The Government's evident distaste for gambling is not being felt by the bingo sector alone. Some of London's plushest casinos are feeling the pinch after last year's triple whammy of a duty hike, smoking ban and the scrapping of high-jackpot machines.
I hear strong whispers that Fifty, the private members club in St James, is thinking about closing or selling its loss-making casino. The suggestion is that the venue, a joint venture between the American-owned London Clubs International and Robert Earl, the Planet Hollywood entrepreneur, would focus exclusively on its bars and restaurants.
Separately, I understand that the on-off sale of Les Ambassadeurs, a former London Clubs casino on Park Lane, to Sheldon Adelson, the Las Vegas gaming mogul, for about £75million is off again - probably for good. Funnily enough, Mike Ashley, the Newcastle United owner, has been tipped as a buyer of both Les Ambassadeurs and Fifty.
Room for investors at Von Essen Hotels
Has Von Essen Hotels, the operator of such sumptuous hotels as Cliveden, Amberley Castle and Sharrow Bay, exhausted its seemingly limitless financial resources? Although there are still one or two smaller acquisitions in the pipeline (including the equally stunning Inverlochy Castle, near Ben Nevis), the word in the hotel world is that Andrew Davis, the group's controversial owner, has been quietly sounding out potential investors with a view to selling a minority stake in the business. Such a move would, presumably, allow him to continue pursuing his grandiose ambitions, although with the trading environment getting decidedly sticky as corporate spending is reined in, perhaps the entrepreneur is merely being prudent in seeking to crystallise some of his substantial equity holding in the company.
---- Marston's, the brewer behind Pedigree ale, has distanced itself from industry moves to ban the Chancellor from every pub in the land after his decision to increase beer duty in the last Budget. “If Mr Darling has got money in his pocket, he's welcome in our pubs, preferably if he brings some mates,” says Derek Andrew, head of Marston's Inns & Taverns. “Assuming he's got any mates,” adds Ralph Findlay, chief executive, caustically. And if they're lucky, Mr Darling, pictured in the country's most famous pub, may even buy something stronger than an orange juice
---- Royal Mail staff could be excused for being a tad confused about the financial state of their employer. In recent weeks, it has been the subject of unremittingly dire warnings about sales and profits and has called for more government cash. But what has just popped through postal workers' doors? A letter from Allan Leighton, the chairman, and Adam Crozier, the chief executive, promising a £400 bonus and exhorting: “Let's celebrate our success and then press on with the good work.”
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