Wolverhampton Racecourse booming

Wolverhampton Racecourse owner Arena Leisure today revealed a big jump in profits - despite the current economic climate.

It made £2million last year, up 25 per cent on the £1.6million on the year before.

But, despite this success, it said plans to bring the first UK racecourse casino to Wolverhampton remained stalled.

It said the tender process for the so-called "racino" was "unlikely to conclude" before the end of 2011.

The casino at Dunstall Park would allow a total of 80 slot machines and £4,000 prizes.

The £23million scheme also includes a major hotel extension and new conference facilities at the Dunstall Park course.

Arena, the UK's leading operator of horseracing fixtures which owns and operates seven racecourses, said today's results were encouraging, especially as attendances at Dunstall Park are on the rise.

Chairman David Thorpe said: "There are also initial signs that corporate hospitality business is beginning to pick up."

The Wolverhampton course could lose around 40 fixtures because of cuts by the Horserace Betting Levy Board, but a decision on the scale of the reduction is unlikely to be announced before the end of September.

Mr Thorpe added: "We believe we are well positioned to manage the challenges that the situation represents."