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Public Accounts Committee: Bord na gCon Financial Statements 2014 (26 Nov 2015)

Seán Fleming: The final question I wanted to ask is on the Indecon report and the response to the recommendations. There was a chart in the Indecon report on the profitability of the tracks. It refers to them all and claims there was a loss of €4.296 million in the track income. I acknowledge there is other income. I am referring to recommendation No. 8, on the calibration of the number of race...

Public Accounts Committee: Bord na gCon Financial Statements 2014 (26 Nov 2015)

Seán Fleming: Eighty five this year?

Public Accounts Committee: Bord na gCon Financial Statements 2014 (26 Nov 2015)

Seán Fleming: Races or race meetings?

Public Accounts Committee: Bord na gCon Financial Statements 2014 (26 Nov 2015)

Seán Fleming: Was having fewer races a problem or was it accepted as the reality within the industry? They probably could see the reality on the ground.

Public Accounts Committee: Bord na gCon Financial Statements 2014 (26 Nov 2015)

Seán Fleming: I was listening to a conversation about Bord na gCon's properties. What is the annual commercial rates bill for all stadia?

Public Accounts Committee: Bord na gCon Financial Statements 2014 (26 Nov 2015)

Seán Fleming: Why is the rates bill to decrease?

Public Accounts Committee: Bord na gCon Financial Statements 2014 (26 Nov 2015)

Seán Fleming: What has the experience been in counties where revaluations have occurred? Have rates decreased across the board or have any increased?

Public Accounts Committee: Bord na gCon Financial Statements 2014 (26 Nov 2015)

Seán Fleming: If Bord na gCon's rates bills have decreased in these counties, other people's have increased to compensate.

Public Accounts Committee: Bord na gCon Financial Statements 2014 (26 Nov 2015)

Seán Fleming: Recommendation No 9 in the Indecon report is "Priority focus on co-mingling and fixed odds betting opportunities". What does co-mingling mean?

Public Accounts Committee: Bord na gCon Financial Statements 2014 (26 Nov 2015)

Seán Fleming: 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....

Public Accounts Committee: Bord na gCon Financial Statements 2014 (26 Nov 2015)

Seán Fleming: So in a full year, say, 2017, how much would one expect that heading to bring in? Would it be €1.5 million or-----

Public Accounts Committee: Bord na gCon Financial Statements 2014 (26 Nov 2015)

Seán Fleming: That is the gross figure.

Public Accounts Committee: Bord na gCon Financial Statements 2014 (26 Nov 2015)

Seán Fleming: What is the retention rate?

Public Accounts Committee: Bord na gCon Financial Statements 2014 (26 Nov 2015)

Seán Fleming: So out of €1 million, one will only get €70,000.

Public Accounts Committee: Bord na gCon Financial Statements 2014 (26 Nov 2015)

Seán Fleming: So out the €2 million, one will only get €150,000.

Public Accounts Committee: Bord na gCon Financial Statements 2014 (26 Nov 2015)

Seán Fleming: From our perspective, when I look at figures of €600,000 and another €460,000-----

Public Accounts Committee: Bord na gCon Financial Statements 2014 (26 Nov 2015)

Seán Fleming: So Mr. Lewins is telling me that €600,000 will end at €42,000, 7%.

Public Accounts Committee: Bord na gCon Financial Statements 2014 (26 Nov 2015)

Seán Fleming: Mr. Lewins can understand how the figures presented here gave a completely different complexion to-----

Public Accounts Committee: Bord na gCon Financial Statements 2014 (26 Nov 2015)

Seán Fleming: Is that commission paid to Bord na gCon?

Public Accounts Committee: Bord na gCon Financial Statements 2014 (26 Nov 2015)

Seán Fleming: Is it like At the Races-----

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