Dashwood: Cheltenham festival special - Telegraph Coral's finance chief has a hidden agenda Other City faces at the races this week were Neptune Investment Management chief Robin Geffen; ex-Cantor Index markets sage David Buik; and Andy Hornby, the former HBOS, Asda and Alliance Boots boss now running bookmaker Coral. Hornby, who was at Cheltenham for three of the festival's four days, is back on home turf since arriving at the betting business - in younger days, Hornby's father often took him racing at the courses near his childhood home in Bristol. But Hornby's group finance director, Paul Bowtell, is finding the going rather heavier since arriving at Gala Coral from tour operator Tui Travel last October. Bowtell told Dashwood that he initially found the bookmaker's "volatile" cash flows rather worrying - although he has now proved his commitment to racing by buying a mare called Hidden Identity. One to watch at Newbury on Saturday, Dashwood hears. Skirmish over Irish racing rights loom This year's switch of Cheltenham's terrestrial TV coverage from the BBC to Channel 4 isn't the only media battle brewing. Dashwood hears the satellite rights to broadcast from all racecourses in the Republic of Ireland are up for repitch, with an announcement from Horse Racing Ireland within the next month. Incumbent At The Races (ATR), operated by BSkyB and Arena Racing Company, has more to lose than most. Last December, it lost the satellite rights to the UK's crown jewel Royal Ascot to rival Racing UK. Losing the Irish contract too could be a "real hammer blow," says Dashwood's man in the paddock. Bookies' £1m wonder-horse write-down Hats off to property tycoon Raymond Mould, the founder of London & Stamford Property, whose unbeatable hurdler Sprinter Sacre inspired bookmakers to offer even money on its victory in the Champion Chase. Luckily for Coral - which paid out £1m after the wonder-horse sauntered home by 19 lengths - bookmakers told Dashwood that they are happy to write off Cheltenham as a marketing "loss leader." Barclays Capital's trilby-wearing chief Rich Ricci has been a familiar sight in Cheltenhams gone by. This year, he was a notable no-show, despite entering 11 runners. Might Barclays boss Antony Jenkins, battling to restore the bank's reputation, have had a quiet word that now is not the time for Ricci to be spotted cheering on Champagne Fever and FatCatintheHat?