Arena canters to a profit rise

Racecourse owner Arena Leisure yesterday posted pre-tax profits of £4.2m, up 15 per cent, after the average attendance of its 352 events last year grew by 7.8 per cent to 1,941. The number of hospitality guests increased by 14 per cent to 51,500. But a cutback in the amount collected from bookmakers and distributed by the Horserace Betting Levy dragged Arena’s revenue down four per cent to £61.5m as it took a £7.3m hit.