Donald Trump’s Turnberry golf resort narrows losses as turnover hits record £24.2m: Donald Trump’s luxury Scottish golf resort, Turnberry, narrowed its losses in the year ending 31 December 2024 as turnover increased 15% to a record £24,228,855 compared with £21,138,002 the previous year. The venue, which features three golf courses and a century-old hotel, saw pre-tax losses narrow to £631,779 from £1,693,162 the year before. “The strong results were largely driven by high demand for Trump Tumberry from groups and leisure travellers,” director Eric Trump said. “The resort’s golf business also outperformed last year as its championship courses command the highest rates in the region. Operating expenses were well managed, resulting in a £2.3m operating profit before depreciation for the year (£1.1m for 2023). Ongoing investment from the owners in the resort, and in particular the championship golf courses, will ensure the property’s continued growth.” No dividend was paid (2023: nil). Meanwhile, Donald Trump’s Aberdeenshire golf course reported turnover increased to £4,479,881 for the year ending 31 December 2024 compared with £3,749,487 the previous year as it increased sales across all revenue streams. Trump International Golf Club Scotland, which owns a resort in Balmedie, near Aberdeen, saw pre-tax losses narrow to £937,693 from £1,427,216 the year before. Operating loss before depreciation amounted to £658,900 (2023 loss of £I,159,571).“The company once again substantially increased sales across all revenue streams and has made further investments in the expansion of its world-class facilities as part of its long-term strategic growth,” said Eric Trump. “This includes hosting high-profile professional tournaments and events. In August 2024, following the success of 2023, Trump International, Scotland hosted the prestigious PGA Seniors Championship for the second year – the oldest senior golf tournament in the world and flagship event of the Legends Tour. Hosting events of this magnitude significantly raises the profile of the business internationally and opens up new markets and opportunities for the business. The increases in tournament and marketing expenditure continue to deliver elevated levels of revenue. The 2024 year also included the continuation of the second phase of development with the construction of another world-class championship links golf course which opened in July 2025, as part of the long-term vision for the property. Additional infrastructure improvements and the acquisition, restoration and conversion of several historic cottages also commenced, further strengthening the resort facilities.” No dividend was paid (2023: nil).
Premium Club subscribers to receive new UK Food & Beverage Franchisee Database on Friday: Premium Club subscribers will receive the latest Propel Food & Beverage Franchisee Database on Friday (17 October), at 12pm. The database will feature ten new entries, plus updates to existing entries, to take the total number to 270 and more than 109,000 words of content. The new entries include
DFDS, a Danish international shipping company with 50 freight and passenger ships in the North Sea, Baltic Sea, and the English Channel, which in February 2025 partnered with Deep Blue Restaurants to roll out Harry Ramsden’s new “Proudly Serving” format to passengers travelling on its routes between Dover and Calais and Dover and Dunkirk. The new entries also include
Directional Pizza, backed by US private equity firm Directional Capital, which acquired the UK Pizza Hut dine in restaurants estate from Heart with Smart Group after the latter went into administration in January 2025. Premium Club subscribers also receive access to five other databases: the
Turnover & Profits Blue Book, the
New Openings Database, the
Multi-Site Database, the
UK Food and Beverage Franchisor Database and the
Who’s Who of UK Hospitality. All Premium Club subscribers will be offered a 20% discount on tickets to Propel paid-for events and discounts on specialist sector reports. Operators that are Premium Club subscribers are also able to send up to four members of staff to each of our four Multi-Club Conferences for free. Premium Club subscribers receive their daily Propel Info newsletter 11 hours earlier than standard subscribers, at 7pm the evening before. They also receive videos of presentations at eight Propel conference events two weeks after they are held. This represents around 100 videos of industry insight over the course of the year. Premium Club subscribers also receive exclusive opinion columns every Friday at 5pm, which include the thoughts of Propel group editor Mark Wingett and a host of industry leaders from across the sector. A Premium Club subscription costs an annual sum of £495 plus VAT for operators and £595 plus VAT for suppliers. Companies can now have an unlimited number of people receive access to Premium Club for a year for £995 plus VAT – whether they are an operator or supplier.
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Hard Rock Café UK registers £4m impairment against Manchester and London Piccadilly sites and incurs £1.1m closure costs from Glasgow venue as pre-tax losses increase to £5.9m: Hard Rock Café UK registered a £4m impairment against its Manchester and London Piccadilly sites and incurred closure costs of £1.1m at its Glasgow venue in the year ending 31 December 2024 as its pre-tax losses increased to £5,851,000 from £1,080,000 the year before. The company reported turnover fell to £29,170,000 from a record £32,545,000 the previous year. Sales of food and beverage dropped 10% to £18,652,000 from £20,636,000 while sales of merchandise decreased 12% to £10,461,000 from £11,838,000. Royalties of £57,000 were received (2023: £71,000).The number of restaurant transactions decreased 10% to 613,692 from 682,411; retail transactions fell 13% to 257,210 from 296,942; restaurant average spend was flat at £32.42 from £32.44; and retail average spend increased 3% to £42.62 from £41.38. In March 2024, the company, which employs around 450 staff, closed its Glasgow café, leaving it with venues in Manchester, Newcastle and Edinburgh along with two in London – its Piccadilly site, which opened in 2020, and its other London site, in Old Park Lane, which opened in 1971. In their report accompanying the accounts, the directors stated: “During 2024, the company reported an impairment of £4.0m, comprising £3.4m for right of use asset leases and £0.6m for property, plant and equipment assets, associated with the Piccadilly and Manchester cafes. In 2023, the impairment for right-of-use asset leases was £0.6m, related to the Glasgow cafe. The company evaluates the operations and performance of its individual cafes and periodically identifies cafes for potential closure or relocation. During the year ended 31 December 2024, the company closed one cafe in Glasgow. The cafe closure resulted in closure expenses of £1.1m. Having taken into consideration the broader leisure/tourism market that drives restaurant and sales growth, even in the face of difficult macroeconomic and geopolitical factors impacting the global tourism economy, the directors believe that the company is well placed to improve the recent financial performance.” No dividend was paid (2023: nil).
Grosvenor Casinos owner reports tax speculation ‘inevitably, hanging over business’ as all divisions growing ‘in line with expectations’: Rank Group, which owns Mecca Bingo and Grosvenor Casinos, has said speculation regarding tax changes in the upcoming Budget is “inevitably, hanging over the business” as it reported all divisions are growing “in line with expectations”. Group like-for-like net gaming revenue for the first quarter ended 30 September 2025 grew 9% to £210.2m. On a channel basis, digital like-for-like net gaming revenue in the quarter was up 13% to £58.4m and venues like-for-like net gaming revenue in the quarter was up 7%. Grosvenor venues like-for-like net gaming revenue grew 8% to £102.7m, with a 5% increase in visits and a 3% increase in spend per visit. Outside London, Grosvenor’s performance grew 10%. London grew 4% with a “relatively quieter summer” in the capital being offset by a significant step up in the performance of the Victoria Casino in London’s Edgware Road following its £15.0m refurbishment that completed in July. At a product level, electronic table gaming revenues grew 11%, “demonstrating the return on investment from recent upgrades to terminals; gaming machine revenues grew by 12% with the rollout of additional gaming machines across the estate commencing in late August”. To date, and in line with expectations, 471 machines have been installed across 18 casinos. Table gaming revenues grew 3%. Rank said digital like-for-like net gaming revenue growth of 13% to £61.1m was driven by a 15% growth in the UK business, within which Grosvenor grew 31% and Mecca grew 9%. In Spain, net gaming revenue was 1% lower than the prior year due to previously reported platform capacity issues, However, Rank said these are now being addressed with the launch of a new bingo platform and expects this business to return to growth in the second quarter. Mecca venues like-for-like net gaming revenue grew 59% in the quarter to £35.5m. Customer visits in the quarter were down 1.0% on the prior year, but spend per visit was up 6%. The Enracha venues “continued to perform well” with first quarter like-for-like net gaming revenue growth of 5% to £10.4m. Chief executive John O’Reilly said: “We have started the year strongly and are confident of delivering group like-for-like operating profit in line with expectations, notwithstanding the significant cost increases we have incurred in employer national insurance contributions, the national living wage and the new statutory levy. We are pleased to be rolling out additional gaming machines in our Grosvenor venues; we are on track with our installation programme and now expect a total of 850 incremental machines to be added to our estate before the end of the first half of the financial year. Speculation regarding tax changes in the upcoming Budget is, inevitably, hanging over the business. We are engaged with the Treasury on the implications of tax changes on the viability of our venues, employment levels, future investment and the customer. Last year, the group generated £44.6m in profit after tax, having paid HM Revenue & Customs and local authorities £188.0m in taxes. The Rank Group, with its strong UK focus, is certainly paying its fair share.”
Flight Club operator secures additional £10m funding to support expansion plans: Red Engine, the team behind Flight Club and Electric Shuffle, has secured an increased lending facility totalling £70m. The additional £10m investment, following a £60m facility that was agreed in April last year, will fuel Red Engine’s ambitious growth plans across the UK and internationally. The new financing, from Santander UK, HSBC UK and Barclays UK Corporate Bank, will support Red Engine’s ongoing site rollout and capital investment programme, “strengthening our position as a market leader in this fast-growing sector”. Red Engine chief financial officer Ross Shepley-Smith said: “Flight Club and Electric Shuffle have always been about bringing people together for incredible experiences. This investment allows us to continue our growth, open more venues, and keep innovating for our guests. We’re excited to work with our three banking partners as we take the next step in our journey.” Red Engine will open its 15th UK Flight Club, in Newcastle, next month. The venue will be the third opening for Red Engine this year and the seventh inclusive of franchise openings. Once Newcastle opens on Friday, 7 November, the total Red Engine and partners estate will stand at 38. This portfolio is set to increase to 40 by year-end, with Flight Club Cincinnati and a second Sydney site to open. In March, Red Engine said it and its franchise partners are aiming to open 45 venues over the next five years as it targets an estate of 84 sites by 2030. It came as Red Engine reported revenue increased 15% to a record £77.1m for the year ending 31 December 2024 compared with £66.8m the previous year. Red Engine’s sales, combined with its franchise partners’, reached £118.3m.
