Arena Leisure to reveal results

Arena Leisure, which has a profitable portfolio of six UK racecourses, will want to show on Wednesday that attheraces, its two-year-old joint venture with BSkyB and Channel 4, is heading in the right direction.

The channel launched in May but interactive betting was delayed until October and concerns remain about whether it can generate sufficient revenues from TV gaming to justify the £307m (€447.5m) the consortium paid for the rights.

Broker Baird Equities is forecasting a 14% rise in annual sales to £30.2m (€44m) with adjusted pre-tax losses unchanged at £6m (€8.75m).

However, Arena should soon benefit from rules allowing gaming at its racecourses.