Cash hurdle for racecourse operator as corporate cutbacks hit revenues.THE UK's biggest horse racing horse racing, trials of speed involving two or more horses. It includes races among harnessed horses with one of two particular gaits, among saddled Thoroughbreds (or, less frequently, quarterhorses) on a flat track, or among saddled horses over a turf course with operator revealed a drop in half-year earnings yesterday after a steep fall in spending among corporate hospitality clients. Arena Leisure - which owns seven venues, including courses at Wolverhampton, Worcester and Doncaster - said pretax profits for the six months to June 30 fell to pounds 1.1m from pounds 1.4 m a year earlier. The decline came after a pounds 400,000 hit to earnings as corporate clients cut back on spending, although Arena said its racecourses were now offering discounts. The company added that declines at its hospitality operations have been offset by cost cuts and income from a new media rights deal to screen races in betting shops. It has secured a five-year agreement with Satellite Information Services Satellite Information Services (or SIS for short) is a satellite system which broadcasts, for a fee, major sporting events such as Horse Racing and Greyhound Racing, as well as Lottery games such as Rapido and 49's, to United Kingdom betting shops. . CAPTION(S): Arena's Doncaster Racecourse Doncaster Racecourse (also known as the Town Moor course) is a racecourse in Doncaster, South Yorkshire, England. It hosts two of Great Britain's 31 Group 1 flat races, the St Leger Stakes and the Racing Post Trophy. , home to the world-famous St Leger race, above |
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