Racecourse operator, Arena Leisure, has issued results for the six months to 30 June showing a pre-tax loss of £2m.

However, this was a reduction of 55 per cent on the figure for the same period last year.

Most of the loss was due to the group’s involvement – in partnership with Sky and Channel 4 Racing – with tv racing channel, attheraces, although the loss was reduced to £5.6m. The Grand National festival in April saw audience figures for the channel hit a high of 368,000 on the Saturday.

Group turnover was up by 22 per cent to £19.1m, EBITDA up by 114 per cent to £4.1m and operating profit up 209 per cent to £3.2m. Racecourse attendances were up 17 per cent and prize money increased by 28 per cent to a record £5.7m.

The half-year saw the refurbishment of public and racing facilities at the group’s Wolverhampton, Lingfield Park and Folkestone courses and, in April, the announcement of a deal with Gala Group to develop the UK’s first racecourse casino – or Racino – at Wolverhampton.

The planning application for the Racino and the expansion of the existing hotel on the site was submitted in June. Redevelopment plans for Royal Windsor, which include improved spectator facilities and a branded hotel, are progressing and further announcements will be made in due course.

Arena is the UKs largest independent racecourse owner in terms of fixtures, hosting over 1500 races per year at its six courses. Details: www.arenaleisureplc.com