Arena Events Share Discussion Threads

[25babies] 21/9/2011 08:22

Yep - Looks like a 'low' offer causing the delay.

Nice increase on opening - however I fear that if the Reubens' offer is turned down the share price will head seriously downwards.

[man overbored] 20/9/2011 21:09

A startling lack of interest in this stock.

The Reubens are, doubtless, calling TH's bluff on this & I suspect will come in at just under 50p, if at all.

[25babies] 19/9/2011 16:56

They are still evidently 'in talks'.

[ollyb10] 16/9/2011 11:42

No news on offer - what are people's view here?

[whatlarks] 08/9/2011 12:06

Still no offer !

[regina bustamante] 21/8/2011 20:36

LOL!

This was always a long term holding for Trevor; he may yet surprise us, a la Jack Petchey, by bidding for Northern Racing at a derisory value.

Why the Reubens have not been accumulating, if they are hoping to buy ARE on the cheap (which 65pps is) is an unfathomable mystery to me.

On an enterprise valuation basis, I should put Arena's assets at around 3 times their carried value.

[snookerclub] 21/8/2011 20:01

arena takeover will be confirmed this week, so says scottish record, 65p is the figure.

[stockrod43] 18/8/2011 11:57

holding up well on a down day will rocket when the markets go up

[dugganjoe] 17/8/2011 11:31

bid 90p would be nice :-)

[wessie] 17/8/2011 10:38

I have!! Only another 4p to go and I am at breakeven after holding for more years than I care to remember!

[stockrod43] 17/8/2011 10:18

cant belive no one,s spotted these north again today loads more to come

[25babies] 17/8/2011 08:56

Hmmm - hopefully not just the good results.

[stockrod43] 04/8/2011 11:52

good results price should start going north

[jpjp100] 01/8/2011 07:36

not an offer, but the interims



Financial:

· Revenue (excluding Levy income) grew by £3.0m (15.3%) to £22.5m (2010: £19.5m), reflecting the progress of the consumer business and increasingly diversified revenue streams. Total revenue decreased by £1.9m to £28.2m (2010: £30.1m) after the impact of the previously announced reduction in Levy funding received by the Group of £4.9m.

· Profit before interest and tax decreased by £0.6m to £1.4m (2010: £2.0m) primarily as a result of a £1.3m net impact from the reduced Levy income. It also reflects a £0.6m improvement in operating performance and a £0.1m increased contribution from At The Races.

· Profit before tax was £0.4m lower at £0.5m (2010: £0.9m). Basic earnings per share were 0.16 pence (2010: 0.28 pence).

· Net bank borrowings at 30 June 2011 had reduced to £34.8m. These have since reduced further by the receipt in July 2011 of the final advanced payment of £7.0m from SIS under the terms of the new media rights agreement.

Operations:

· The Group staged 189 fixtures in the period (2010: 188) and is scheduled to stage 353 fixtures in the full year (2010: 352).

· Arena continues its track record of significantly outperforming the industry as a whole with attendances up 11.7% to 315,000 (2010: 282,000), average attendance up by 11.3% at 1,667 (2010: 1,498), and hospitality attendance increasing by 8.2% to 18,400 (2010: 17,000).

· Revenue from catering increased by £0.8m (18.9%) to £4.9m and from hotels by £1.1m (137%) to £1.9m including a full period of the Lingfield Park Marriott Hotel and Country Club.

· Contribution from At The Races continues to grow, both from royalties received and equity share.

Recent developments and future growth:

· The Government is currently consulting on the future options for the Levy with regard to remedying the current structural deficiencies. Arena has participated in this process and considers the recent Government statements on licensing and taxation of off-shore bookmaking as a positive step.

· The new five-year SIS media rights agreement, with an estimated total value of £106.0m and an uplift in annual value of £10.0m, will commence on 1 January 2012.

· In February 2011, Arena successfully tendered to The London Organising Committee of The Olympic Games and Paralympic Games Ltd to provide catering services at Eton Dorney and Greenwich Park venues in 2012, with an estimated net profit contribution of £0.5m to £1.0m.

· In July 2011, Shepway District Council published the Local Development Framework Core Strategy (Proposed Submission Document) for public consultation that identifies Folkestone Racecourse as a strategic site for a mixed-use development incorporating up to 820 residential units.

· In June 2011, the Board announced a review of possible options to increase value for its shareholders. This process is ongoing.

· Trading performance since 30 June 2011 is in line with the Company's expectations.



David Thorpe, Chairman of Arena Leisure Plc, commented:



"Despite the challenging back drop of reduced industry funding and the slow economic recovery, the consumer-driven operations of Arena's business have performed exceptionally well; most notably, posting attendance growth of over 11% in the period. Our trading performance since 30 June 2011 is in line with the Company's expectations. The media rights uplift from 2012 onwards is now on the horizon.



"The Government is in consultation on a reform of the Levy scheme and we are encouraged by its recent statements on licensing and taxation of off-shore gaming. We believe that the nature of Arena's racecourse estate, in particular the all-weather assets, will be advantageous in the event of a Levy replacement that is predicated on a commercial relationship with bookmakers."

[snookerclub] 31/7/2011 18:49

arena offer announced tomorrow, along with interim figures, just a hunch. for me? 85p.

[whatlarks] 30/6/2011 11:22

Price not going up

[25babies] 23/6/2011 10:20

We have been here before! If Hemmings believes that the shares are worth 60/70p - why has he not been adding to his ownership - indeed take over the company Trevor.

[damanko] 23/6/2011 09:58

From today's Racing Post (23/06/2011):

Racecourse owner Arena Leisure could be sold

By Tom Kerr 9:06AM 23 JUN 2011 MAJOR racecourse operator Arena Leisure could be put up for sale, with Northern Racing's owners the Reuben brothers among the potential suitors.

Arena own seven tracks including Windsor, Lingfield and Doncaster.

The potential sale has prompted speculation the Reuben brothers could seek to expand their racecourse holdings with a bid for Arena.

The billionaire property investors already own close to 30 per cent of the business after raising their stake last year.

Arena confirmed on Thursday they are reviewing the possible sale of the company as part of their drive to increase value for its shareholders.

It is understood a sale was recommended to Arena by their business advisers, Investec.

However, one significant obstacle to any potential sale could be racehorse owner Trevor Hemmings, who owns 41.5 per cent of Arena.

A spokesman told the Times that while Hemmings was not opposed to the sale, any potential bid would have to match his valuation of thebusiness, placed at between 60p and 70p a share.

Shares in Arena Leisure were up 4.25p to 36.50p as of 9.00am on Thursday morning.

[topinfo] 23/6/2011 07:07

DJ Arena Leisure PLC Re Media Speculation

TIDMARE

RNS Number : 9656I

Arena Leisure PLC

23 June 2011

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION.

23 June 2011

FOR IMMEDIATE RELEASE

Arena Leisure PLC

Response to recent press speculation and commencement of offer period

The Board of Arena Leisure PLC (the "Company") notes the press speculation concerning the Company and the movement in its share price. The Company confirms that it is reviewing possible options to increase value for its shareholders, which may include a possible offer for the Company. This review has only just commenced and there is no certainty that the review will result in any change to the Company or an offer being made for the Company.

Further announcements will be made as appropriate.

Enquiries:

[damanko] 20/6/2011 19:46

Possibly you were angled into it. Trust other holdings will cushion this for you. Don't be too browned off, take a rest, at least they're not in the red.

I could go on, but I'll have a break, s'late - so chalk it up to experience, I too bought in at higher, this could be the cue to buy more?

[snookerclub] 20/6/2011 19:30

how i ever got sucked into this dross is amazing.

[snookerclub] 06/5/2011 07:52

trading statement; i agree with pontin on iii, no prospects of any organic growth, boring.

[whatlarks] 05/5/2011 11:24

Waiting for the Ruben brothers to buy us out.
Hope it happens in my lifetime !

[snookerclub] 05/5/2011 07:49

more like 18p.