When Greg Bortz first came to Kenilworth racecourse, he found a property with leaking roofs, broken escalators, peeling paint and toilets that didn’t flush. The restaurant had the feel of a “a hospital canteen, with plasterboard ceilings, old blue carpets”, he says. “It was the worst of the worst.”

The businessman is speaking to the FM from his office at Kenilworth, a spacious grey room with a view of the racecourse. Two large TVs are tuned into horse racing events in other parts of the world. Elsewhere in the complex, that same restaurant has been kitted out with “top of the line” finishes that preserve the heritage and history of racing. It’s one small change in a much larger turnaround...

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