Mr. Pat Creed:

First, the Curragh is separate to Punchestown and Naas. The Curragh only hosts flat racing, so it is a different track. Punchestown and Naas probably have similarities because they run steeplechases. I will reiterate the point I was trying to make. If we did not have the level of debt overhanging, then it might be a separate discussion. The issue is that we have a substantial debt. We have two stadiums. One is closed five nights per week. The other is closed four nights per week. By merging them into one operation in Dublin we are alleviating the debt burden and maximising the cost efficiency by having staff move to one location. The decision is based on the criteria of where we are today as distinct from if it was a debt-free organisation.