Mr. Brian Kavanagh:

Tote betting is becoming much more of a global activity and the world is becoming a much smaller place for the racing industry. We are very familiar with the racing that takes place in distant countries, such as Australia, America and Hong Kong, for example. They are also becoming more familiar with the racing that takes place in Ireland and the UK. Co-mingling is where international or overseas punters would bet into the home pool, and will be a significant area of future growth for betting. The UK Tote Group will have greater resources and ability to access those markets than the Irish Tote group, which is a very small player. I mentioned earlier that the betting sector in Ireland is worth €5 billion so with turnover of €50 million or €60 million, Tote Ireland is tiny in that context.

It does not have the ability to access international markets in the same way that the UK Tote Group would. Tote Ireland retains control of the tote pools and operates the tote pools in Irish racing. A marketing and distribution agreement with the UK Tote Group group kicked in from 1 January last.