Arena, Ladbrokes Looking at Casino Venture
British bookmaker Ladbrokes is believed to be in talks with British racecourse operator Arena Leisure about a joint casino venture at the Wolverhampton track. Under the deal, Arena Leisure would add gaming to its portfolio under one of the U.K. government's new smaller supercasino license agreements, which will be awarded this year. Ladbrokes would run the casino, to be built between the track and an existing restaurant. . . . Arena Leisure said in December that it welcomed the U.K. government's decision to retain the Horserace Betting Levy Board and the associated horserace betting levy scheme until an alternative commercial funding arrangement can be identified. The horseracing fixtures operator had received around £16 million from the levy, almost 40 percent of its turnover, in 2005.
Racing Post for Sale
Britain's Trinity Mirror newspaper group announced just before Christmas that it plans to sell its flagship paper, The Racing Post, along with the rest of its sports division and regional titles in the Midlands, London and the Southeast. The group, which owns the Daily Mirror tabloid, launched a strategic review in August after a drop in profits caused by an advertising slump. It said it would focus on national newspaper titles and key regional titles in Scotland, the north of England and Wales, and British digital assets.
British Consortium Have until Jan. 26th to make Final Tote Bid
The U.K. government has invited a consortium of racing interests--the Race Course Association, the Racehorse Owners Association and the Racecourse Holdings trust--to make a final, full market value bid for the Tote together with management and staff of the bookmaker itself. They have been given a Jan. 26 deadline to make the offer. Meanwhile, the government has reportedly extended an invitation to investment banks to bid for the Tote, a just-in-case move should the racing consortium fail to meet the £400 million ($780.2 million) asking price. The Telegraph reported that the Department of Culture, Media and Sport had sent letters before the New Year asking to meet with representatives from several banks--including Citigroup, Deutsche Bank and Lazards--to discuss the sale. According to sources cited in The Guardian, however, the consortium is close to completing a deal for the government-owned bookmaker. The consortium also has until Jan. 26 to meet the government's asking price.
Kieron Trial Set for September
Fallen champion jockey Kieron Fallon will stand trial in September 2007 over allegations of race-fixing and plotting to defraud customers of Internet betting exchange Betfair. The offenses are alleged to have taken place between December 2002 and September 2004. Accused jockeys Fergal Lynch and Darren Williams to stand trial alongside him.