Oireachtas Joint and Select Committees

Tuesday, 23 February 2021

Public Accounts Committee

Horse Racing Ireland: Financial Statements 2019

10:00 am

Mr. Brian Kavanagh:

Yes. A significant element of that loss is depreciation. The Curragh racecourse is profitable and it generated a cash profit in 2020, despite the Covid impact and it will be profitable going forward. It will generate a significant return for the State, not just through the company but also through the racing that takes place there. It is Ireland's premier international racecourse. It is the window that most people see the Irish racing industry through when they are looking at it. Members have seen the pictures in the submission we made on the redevelopment-----

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