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The British racecourses, started by brothers Simon and David Reuben, have seen serious losses, and not from the horses. A merger was created with Arena Racing company saw a 5.7 million or a $9.1 million pre-tax loss. While the company saw a profit for its racing and live entertainment business, which featured the talents of Tom Jones and other celebrities, its losses outweighed its gains, and exceeded the 6.1 pound loss or the $9.8 million loss for the previous year.
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Attendance actually rose at the courses, helped by live entertainment, but the balance sheet has kept the company behind. Directors were “happy with the results” as reported by the Telegraph, but losses can’t last for long.
