Arena saddles a winner as record crowds enjoy a day at the races

A FLEET turn of foot in profitability was shown by Arena Leisure last year, as the racecourse owner – which is being taken over by business tycoons the Reuben Brothers – was boosted by record attendances.

The group, which owns seven British racecourses including Doncaster and Windsor, posted a near-15 per cent rise in pre-tax profits to £4.2 million as average attendances at its 352 fixtures rose by 7.8 per cent to 1,941.

In a sign that corporate hospitality has ridden out economic pressures, Arena revealed that this segment saw attendances increase 14 per cent.

However, group revenues fell £2.5m to £61.5m after a further cut in the amounts received by the horse-racing industry from the statutory levy on bookmakers. The company’s share of the levy fell £7.3m to £10.4m, of which £5.5 million was paid out in prize money.

Arena also said that, subject to regulatory and legal approval, it expected the £160m recommended takeover offer from David and Simon Reuben to be completed by 30 March.