Oireachtas Joint and Select Committees

Thursday, 20 June 2024

Public Accounts Committee

Financial Statements 2022: Horse Racing Ireland
Financial Statements 2022: Irish Horseracing Regulatory Board

9:00 am

Photo of Ciarán CannonCiarán Cannon (Galway East, Fine Gael)
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In recent times, HRI has consistently cited a report by Frontier Economics that outlines that the Gambling Regulation Bill could lead to a €30 million reduction in its revenue over a five-year period. Does HRI still stand over that figure? How does it intend to deal with that reduction in revenue? It is inevitable that the legislation will pass. It is important legislation for public health. How does HRI intend to deal with it? In media reports, it has consistently cited this research by a third party, Frontier Economics. While one might argue it is somewhat biased in forming its opinions, it has concluded that there is going to be a €30 million reduction in revenue to HRI over a five-year period. Does HRI still stand over that figure and how does it intend to deal with that reduction in revenue?