IGB STATEMENT: RESTRUCTURING OF SUBSIDIARY COMPANY STRUCTURE

IGB STATEMENT: RESTRUCTURING OF SUBSIDIARY COMPANY STRUCTURE

IGB

As part of the IGB's approach to securing cost efficiencies we have undertaken a restructure of our subsidiary company structure. We have constituted one operating company - Greyhound Racing Operations Ireland Ltd. - to cover operations at tracks. 

We are discontinuing seven limited companies through the required voluntary liquidation process. 

As part of this process, a number of the IGB’s subsidiary companies (listed below) have been publically listed as filing for the appointment of a liquidator:

-          Cork Greyhound Race Company Ltd

-          Dublin Greyhound and Sports Association Ltd

-          Galway Greyhound Stadium Ltd

-          Kingdom Greyhound Racing Company Ltd

-          The Limerick Greyhound Racing Track, Ltd

-          The Waterford Greyhound Race Company 1953, Ltd

-          The Youghal Greyhound Race Company, Ltd

The restructuring will deliver savings from an audit perspective, preparation of statutory accounts, tax returns, company office filings, bank accounts and general finance support and resources.

There has been no change to business operations.