A company that owns two race tracks in the UK has become the latest hot internet stock, amid speculation that it is to launch web broadcasts of horse races – geared to gambling enthusiasts in Hong Kong and Singapore. Shares in Lingfield, Sussex-based Arena Leisure Plc climbed 9.4% to 118.5 pence, although the company’s directors were unavailable for comment on the issue.
The company announced in August that it was developing technology for live web broadcasts and expected to have the capability to broadcast pictures of acceptable television quality within 12 months. Earlier this month, Arena raised 7.9m pounds ($12.6m) to finance an acquisition though it has yet to make a move.
The appetite of the Hong Kong public for gambling on horse races is higher than in most countries. Online gambling facilities proved so popular that there was a shortage of public phones before major races. So earlier this year, Option International, the Leuven, Belgium, providers of miniaturized data communications, won a $3.5m contract to provide snap-on GSM adapters to give gamblers a wireless connection to their gambling terminals.
