ARE.L Regulatory News (ARE)

14 Sep 2007 07:00

Arena Leisure PLC14 September 2007 14 September 2007 Arena Leisure plc ("Arena") Doncaster Racecourse Ladbrokes St Leger Festival Arena is pleased to announce that the 2007 St Leger Festival has commenced asplanned following the 20 month redevelopment programme that encompassed a £34million investment in Doncaster Racecourse, home to the world's oldest Classichorserace, the Ladbrokes St Leger. The Festival commenced on Wednesday 12 September and, over the first two daysattendances have been in line with expectations. Ladbrokes are once again the main sponsor for the Festival. The Ladbrokes StLeger will be staged on Saturday 15 September when the largest crowds of theFestival are expected. The redevelopment has encompassed a new state-of-the-art grandstand withenhanced hospitality facilities, a new stables complex, new conference andexhibition facilities, a modern weighing room, new accommodation blocks forracing professionals and new racing surface on the flat-course. Planning permission was granted earlier this year for the second phase of theRacecourse's development, namely a combined hotel and residential developmentincorporating a 120-bedroom four-star hotel, with associated restaurant and barfacilities on the lower floors, and 34 residential apartments on the upperfloors. Construction is expected to commence on the second phase at the end of2007 with completion anticipated for the first half of 2009. Doncaster Racecourse is operated by a subsidiary of Arena in which Arena owns 81per cent and Doncaster Metropolitan Borough Council owns 19 per cent although,for the first 30 years of its operation, Arena will receive 92.5 per cent of thesubsidiary's profits. The subsidiary holds a 99-year lease over DoncasterRacecourse. Mark Elliott, Chief Executive of Arena Leisure Plc, commented: "To have brought the St Leger Festival back to its home in Doncaster as plannedis a major achievement. "The wonderful new facilities are attracting racegoers, sponsors, bookmakers andhorses, trainers and jockeys of the highest quality. Doncaster Racecourse cannow be classed as a world-class leisure, business and racing venue." - ends - For further information: Arena Leisure PlcMark Elliott, Chief Executive 020 7632 2080e-mail: contact@arenaleisureplc.com Bell Pottinger Corporate & FinancialDavid Rydell / Victoria Geoghegan 020 7861 3232 www.arenaleisureplc.com This information is provided by RNS The company news service from the London Stock Exchange