UK pubs and bookmakers await lucrative World Cup
(Reuters)
Updated: 2006-05-25 15:33 "Kick-off times are far more conducive to betting, in contrast to the World
Cup in Japan and Korea," said Ladbrokes' Hutchison, adding that new systems of
taking bets during play would also boost turnover.
Analyst Charles Wilson at Bridgewell Securities said pubs would benefit from
the World Cup to varying degrees.
"The obvious pub groups that will benefit are ones with sports bars, like
Regent Inns, with its Walkabout bars, which have a reputation for staging big
sports events," he said.
"We could see an uplift in like-for-likes (sales) of around 10 percent for
those four weeks," he added.
By contrast, high street operator Wetherspoon has been criticised for failing
to capitalise on the event, and at one point there were doubts it would be able
to install televisions in all its venues in time.
"All the screens will be installed now," said a spokesman. "But the sound
will be turned off, and it's still up to each manager whether they show the
World Cup."
Altium's Feehely said Wetherspoon was likely to fare better than at the last
World Cup, with sales remaining broadly flat, having taken a dip four years
earlier.
The London-based Centre for Economics and Business Research estimates that if
England reaches the semi-finals, sales in pubs, clubs and liquor stores would be
boosted by 285 million pounds -- a 1 per cent increase in annual revenues.
"This spending will be slightly less if England go out of the tournament at
an earlier stage," it added.
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