Oireachtas Joint and Select Committees

Thursday, 26 November 2015

Public Accounts Committee

Bord na gCon Financial Statements 2014

10:00 am

Photo of Seán FlemingSeán Fleming (Laois-Offaly, Fianna Fail) | Oireachtas source

I understand. The response Bord na gCon published on 10 October 2014 detailed the action point "Developing co-mingling contracts and income streams" and stated, "William Hill and other similar agreements secured, contracts ongoing". Another action point is "Conclude negotiations with TV providers" and the completion date is "quarter 4 2014 and ongoing". That was at the end of last year. The chart on page 11 of the document indicated the projected financial improvement from the review of tote operations would be €608,000 in 2015, €461,000 in 2016 and €92,000 in 2017. The projected income from international co-mingling, television sales and other related wagering opportunities was €600,000 in 2015, to drop off to €30,000 in 2017. Will Mr. Lewins explain this? Is it a one-off, up-front payment? Why is so much income coming in from it? How much of the €600,000 has been received so far and what is expected to be received by the end of the year? Why is the figure to drop off from €600,000 to €30,000 in two years?

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