ARE.L Regulatory News (ARE)

16 Dec 2005 07:01

Arena Leisure PLC16 December 2005 16 December 2005 ARENA LEISURE PLC ("Arena") ARENA SIGNS AGREEMENT FOR DONCASTER RACECOURSE LADBROKES ST LEGER RELOCATED TO YORK Arena Leisure Plc, the UK's largest operator of horseracing fixtures, is pleasedto announce the signing of its agreement with Doncaster Metropolitan BoroughCouncil ("DMBC") which will enable the start of a £32 million redevelopment ofthe Doncaster Town Moor Racecourse, home of the world's oldest classichorserace, the St Leger. The redevelopment will include the construction of a state-of-the-art grandstandand exhibition and conference centre, together with a new on-site stablescomplex and a new weighing room and accommodation block for racingprofessionals. Planning permission for the redevelopment was received on 22November 2005. To facilitate the works, the racecourse will close in January 2006. It isscheduled to reopen in July 2007, in time for the Ladbrokes St Leger meeting inSeptember 2007. The Ladbrokes St Leger meeting will move to York in September2006 for one year only. Doncaster's 28 annual race fixtures will mainly berelocated to other Arena racecourses during the period of closure. The agreement between Arena and DMBC has created a limited liability company, inwhich Arena has an 81% stake. This company will have a 99-year lease overDoncaster Town Moor Racecourse. During the first 30 years of the venture, Arenawill receive 92.5% of the profits of this company. Along with a share of theprofits, DMBC will also receive a guaranteed annual rental income for theduration of the lease. Mark Elliott, Chief Executive of Arena Leisure Plc, said; "We are delighted to have signed this agreement with Doncaster MetropolitanBorough Council and to have received planning permission for the redevelopment.Doncaster Racecourse is in a fantastic location and with a great tradition ashome to the St Leger, the world's oldest classic race. We look forward totransforming the racecourse, providing its customers with facilities worthy ofsuch a prestigious race and making Doncaster Racecourse a world class leisureand racing venue." Arena will be holding an analyst visit today at Royal Windsor Racecourse. No new material information or update on current trading will be provided. - ENDS - For further information please contact: Arena Leisure PlcMark Elliott, Chief Executive 020 7495 2277 Bell Pottinger Corporate & FinancialDavid Rydell / Zoe Sanders 020 7861 3232 This information is provided by RNS The company news service from the London Stock Exchange