Ms Geraldine Larkin:

In addition to asset disposal, the Indecon response is grounded in a very stringent overview of the performance of stadiums and a change in the mindset when considering the performance of stadiums and the awarding of prize money, as compared with the contribution of each individual stadium back into the industry. One of the key issues for the IGB and for the industry is that we will need to target money where it is giving the best return for the industry. In that vein, we have proposed in our response to Indecon to start measuring the performance of each individual track. That measurement will not be solely financial. In addition to financial measurements, we will also be considering from an industry perspective the relative size of the dog pool within each area, the relative attendance at each stadium, the level of sponsorship attracted to each stadium, growth and development and the local involvement at each stadium. We will also consider the level and state of development of a stadium so that we are not comparing an undeveloped stadium with one that has received significant capital investment. Over time, these figures will give us a much better overview as to where we are getting best value for the taxpayers’ money. In the short term we will work with stadiums in order to explain and evaluate these metrics. However, the reality is that we have to focus prize money and our subvention on those tracks that are contributing the most back to the industry. If we do not realise the asset sale, or if the expected value is not realised, as indicated in our briefing, then the emphasis on the performance of those tracks will become even more severe. The bottom line is that it is down to the individual stadiums having to improve performance on a wide variety of measures.