Updates

Arena Leisure - Attheraces model changed

May 2005

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

With the old Attheraces media rights contract disbanded during the year and a new one put in place from 11 June, whilst the gaming software development activities were also closed, results for 2004 weren't particularly meaningful. A keynote was a 27% increase in race meetings to 315 and a 24% increase in sales to £36m from the six racecources. However, operating profit grew by only 4% to £7.3m (although it would have been up 20% on a like-for-like basis adjsuting for termination of the Attheraces media revenues and some changes to racing funding).Arena's second leg is Attheraces, the 47.5%-owned joint venture with BSkyB which has been set up to exploit the media rights to 28 racecources in the UK. It now generate ...

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