Horse racing: leisure's next sure thing?

Article Abstract:

Investing in racecourse companies is an alternative to betting on horses. There are four United Kingdom racecourses owned by companies quoted on the stock market, but interest is increasing in this sector. Arena Leisure ranks first in the industry. Racecourses can offer reveue from media rights for TV and betting shops, and they do not carry the risk of owning horses. The government and the betting industry tend to make most money from racing, and the racing industry sees little of this money.

United Kingdom

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Arena Leisure

Article Abstract:

Arena Leisure will rank second among United Kingdom racecourse operators following a deal announced in Jun 1999 which will give Arena four tracks and 16% of the racing fixtures in the UK. The conpany should also benefit from a rise in revenue from broadcasting. The agreement may not initially bring benefits. Arena also offers real estate opportunities near racecourses, and the exploitation of land could bring in funds. The company's stocks are attractive though they also represent some risk.

Management, Arena Leisure

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Brands Hatch Leisure: not yet in pole position

Article Abstract:

Brands Hatch Leisure plans a share issue in Oct 1996. The company has obtained freehold for its racing circuits which will facilitate expansion. he flotation will help reduce debt incurred as a result of the freehold purchase. Brrands Hatch aims to set up restaurants and shops on its sites and the freehold pruchase will help boost profits partly because of a drop in depreciation charges. The maintenance of the site involves fixed costs and rises in revenue will greatly help boost profits.

Securities, Brands Hatch Leisure

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