Wed, 03 Aug 2011 | BUSINESS SALE
Racecourse company Arena Leisure has made public its 11.3 per cent rise in attendance levels in a bid to attract potential buyers.
It also recently announced its intention to undertake a review looking into options to “increase value for shareholders”.
The firm is seeking to replace the turnover lost through a decline in bookmaker funding. Bookmakers have been moving their online and telephone operations to low-tax offshore locations such as Gibraltar, which has led to a drop in levy income. Government ministers are said to be assessing ways to recoup the lost income.
In contrast to the climb in paying visitors to Arena’s nine racetracks, the rest of the racecourse industry has suffered from flat attendance.
The increase in attendance has been attributed to the free royal wedding fixture at Doncaster, amongst other similar initiatives.
Northern Racing owners Simon and David Reuben already own a large stake in Arena Leisure already, and their interest in buying the business is known. Satellite Information Services, the bookmaker-owned broadcaster, is considering a £22 million bid for Arena, while racehorse owner Trevor Hemmings, who holds a 41.5 per cent holding in Arena, is also thought to be interested.
Opportunity to acquire a high performing business and long leasehold property operating in the dental and medical sector within London. Offers by: 6 December 2024.
Opportunity to acquire the business and assets of a beverage retailer with stores across England. Offers by: 2 December 2024.
Opportunity to acquire a privately owned Company founded over 40 years ago, operating as one of the leading developers of exceptional residential homes in prime areas of London and Southern England. Offers by 5 December 2024.
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.