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10 Feb 2011 07:00
ARENA LEISURE PLC
Provision of catering services at the 2012 Olympic and Paralympic Games
Arena Leisure Plc ('Arena'), the UK's leading operator of horseracing fixtures that owns and operates seven racecourses in the UK comprising Doncaster, Royal Windsor, Lingfield Park, Southwell, Wolverhampton, Folkestone and Worcester and provides the catering services at all seven venues, today announces that it has successfully tendered to The London Organising Committee of The Olympics Games and Paralympic Games Limited (LOCOG) and been awarded the contract to provide catering services at both the Eton Dorney and Greenwich Park venues as part of the Olympic and Paralympic Games in 2012.
During the Olympic and Paralympic Games in 2012, Eton Dorney will be home to the sprint canoeing and rowing events and Greenwich Park will be home to the equestrian and modern pentathlon events.
The contract contains elements of both fixed income and income that is dependent upon the numbers of attendees and their spend per head. The Board currently estimates that Arena's 2012 net profit contribution from the contract will be in the range of £0.5 million - £1.0 million.
Mark Elliott, Chief Executive of Arena, commented:
"Arena formed its own catering business in 2007 and since then it has established a leading food and beverage offering across each of our seven Racecourse venues. This contract adds another dimension to Arena's increasingly diversified revenue streams".
10 February 2011
Enquiries:
Arena Leisure Plc Tel: 020 7632 2080
Mark Elliott, Chief Executive
Tony Harris, Finance Director
College Hill Tel: 020 7457 2020
Justine Warren
Matthew Smallwood
Forward-looking statements
This report may contain certain statements about the future outlook for Arena. Although Arena believes its expectations are based on reasonable assumptions, any statements about future outlook may be influenced by factors that could cause actual outcomes and results to be materially different.
www.arenaleisureplc.com
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