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Arena Losses Hit £7 Million

2 April 2003

UNITED KINGDOM – As reported by the Edinburgh News: "Arena Leisure, the majority owner of television horse racing channel attheraces, today announced full-year losses of almost £7 million (US$10.96 million).

"However, the group insisted its business plan was still on course, with racecourse operations showing record profits in the 12 months to December 31.

"But the on-course success was offset by losses of £11.1m (US$17.38 million)from attheraces, the joint venture launched last May with partners BSkyB and Channel 4.

"…The group owns six racecourses in the UK and is the only operator of all-weather courses…"

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