ARE.L Regulatory News (ARE)

6 Feb 2007 07:01

Arena Leisure PLC06 February 2007 ARENA LEISURE PLC Submission of Planning Application for Expansion of Facilities at Wolverhampton Racecourse Arena Leisure Plc, the UK's largest operator of horseracing fixtures, announcesthat a planning application has been submitted to Wolverhampton City Council fora significant expansion of facilities at Wolverhampton Racecourse. The development will include an enlarged hotel (incorporating 170 bedrooms), a'racino' (a destination casino at a racecourse), and additional horseracing andconference facilities. The gross cost of the development is estimated at £23million, and will generate up to 280 additional jobs in total once fullyoperational. This planning application incorporates a fundamental redesign to overcome thereasons for a previous proposal at the Racecourse being refused by the Secretaryof State in 2005, principally due to impact on the openness of the Green Belt,following a Call-In Inquiry. The concept of the extension and the synergybetween the component parts have previously been supported by the Local PlanningAuthority, the Call-In Inquiry Inspector and the Secretary of State. Arena is also delighted to note that the City of Wolverhampton was recentlyrecommended for the location of a 'small' casino by the Casino Advisory Paneland that Wolverhampton Racecourse played such a prominent role in its successfulapplication. The proposed racino at the Racecourse is physically capable ofaccommodating a small casino and Arena notes the Panel's comment that: "Wolverhampton well satisfies all of our criteria and if the casino happens toend up at the racecourse it would add to its uniqueness and provide aninteresting and unusual social impact test". Arena acknowledges that the Panel's recommendations have to be endorsed byParliament and that it will be Wolverhampton City Council that will determinethe granting of the casino premises licence. Mark Elliott, Chief Executive of Arena Leisure Plc, said; "We are delighted that this planning application has been submitted. Theproposed expansion of facilities will play a crucial role in securing thelong-term future of Wolverhampton Racecourse and further enhance its status as aleading racing, conferencing and leisure destination for the West Midlandsregion." For further information please contact: Mark Elliott, Chief ExecutiveArena Leisure Plc Tel: 020-7495-2277e-mail: contact@arenaleisureplc.com David Rydell/Geoff CallowBell Pottinger Corporate & Financial Tel: 020-7861-3232 This information is provided by RNS The company news service from the London Stock Exchange