Chips down for Racino

A multi-million pound development at Wolverhampton Racecourse will be abandoned if the venue is not chosen for the city’s small casino.

Racecourse bosses pledged to “compete vigorously” to convince the city council that the racecourse is the right place for what would be the UK’s first “racino”.

Wolverhampton has been confirmed as the site for one of the small casino licences, and once this has gone through Parliament the city council will have to make a decision on where it will operate.

Mark Elliott, chief executive of racecourse owner Arena Leisure, said they were all ready to press ahead with a £25 million scheme which would see the hotel increased from 54 to 170 bedrooms, along with a new conference, exhibition and banqueting suite, a new leisure complex including a swimming pool and the incorporation of the casino.

“The proposed expansion will help secure the long-term future of the racecourse and will further enhance its status as a leading racing, conference and leisure destination for the West Midlands region.

“But we will only be spending that money should we get the small casino licence. It is a fantastic development for the rececourse, and we will compete vigorously to win that.”

The announcement came as Arena revealed its preliminary results for 2007, with revenue up 28 per cent to just short of £58 million and pre-tax profit lifting 6.9 per cent to £6 million.

Despite being hit by wet weather last summer the all-weather course at Wolverhampton still managed to stage a record 121 fixtures.

Racecourse chiefs may have to fight developers of the Interchange project in Wolverhampton, who have included a casino in plans.

Another casino is being created at the former Low Level Station – possible because a licence was granted before the Gambling Act 2005 was brought in.