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Arena Leisure - OFT reforms not the dream scenario

August 2004

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.

  • Epic Code:
  • ARE
At its AGM, Arena  noted a strong performance from its racecourse division, while also welcoming the provisional agreement between the Office of Fair Trading and British Horseracing Board over the reform of British horseracing.  The OFT's findings weren't quite the dream scenario that Arena's shareholders hoped to hear – namely unlimited numbers of races on every track and casinos operating on every racecourse.   That said, Arena will have the opportunity to improve asset utilisation through introducing some more fixtures. Giventhat it could be several years before the horseracing reforms really filter through the shares may hang fire, given their prospective PE of28.8 for this year and 22.8 in 2005, based ...

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Related Articles

Arena Leisure - Attheraces strikes new rights deal (June 2004)
Arena Leisure - Attheraces terminates agreement (May 2004)
Arena Leisure - Horse racing group could could benefit from OFT rulings (October 2003)

With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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