Management at Greyhound Racing Ireland (GRI) has identified suspected fraud at three greyhound stadiums that has resulted in estimated losses of €60,000.
The suspected fraud is disclosed in the 2025 annual report of Rásaíocht Con Éireann (RCÉ) and the alleged fraud also draws the attention of public spending watchdog, Seamus McCarthy.
In his report attached to RCÉ’s 2025 annual report, Comptroller and Auditor General, Mr McCarthy states that “an investigation by an independent third party of the circumstances surrounding the losses is ongoing”.
In the annual report’s statement on internal control, Chairman of RCÉ, Patrick Flanagan, confirms the suspected fraud in three instances “and the potential loss is estimated at circa €60,000”.
RCÉ last year recorded a pre-tax loss of €1.1m – a sharp increase on the pre-tax loss of €63,790 for 2024.
A large contributor to the €1.1m loss last year included a €1m grant to private stadia last year.
A note states that the €1m grant was allocated to the redevelopment of Kilkenny Greyhound Stadium “which was the final allocation from the proceeds from the sale of Harold’s Cross Greyhound Stadium”.
RCÉ last year received a Government grant of €19.8m which was a 4.3% increase on State funding of €19m received in 2024.
RCÉ’s revenues from racing activities last year dipped from €22.36m to €22.1m last year that was made up of Tote revenues of €15.3m, gross profit of €3.88m from food and beverage sales and €2.83m from track income.
RCÉ’s costs last year include €9.5m paid out in winnings on Tote wagering which was down on the €10.39m paid out in 2024.
In his report, Mr Flanagan said that “the past year was one of continued progress for our industry”.
“World class racing, strong attendances, the expansion of our care and welfare initiatives and sustained investment in our stadia all contributed to a positive year,” he said.
Mr Flanagan said that RCÉ’s Welfare team carried out 2,636 inspections in 2025 – the second highest annual total on record and 181 more than 2024.
He said that of the inspections carried out in 2025, “95.55% were fully compliant, reflecting the strong standards upheld across the country”.
In his report, CEO Tim Lucey said that the continued public support for greyhound racing with income from commercial activities, including tote, food and beverage and general admissions performing strongly in 2025 compared to previous years.
The report discloses that RCÉ last year paid out €834,033 under the heading of legal settlements.
It also states that a legal settlement of €730,000 was paid on foot of a lease obligation dating back to 1948 whereby the site of the Youghal Greyhound Stadium was leased on a long term basis, with an obligation to pay the reinstatement cost of returning the property to a “greenfield” site upon termination of the lease.
The report states that “in the period since 1948 significant development has taken place on the property including the race track, buildings and carparks and the cost of reinstatement to a “greenfield” site was agreed at €730,000″.
The report states that the lease was terminated in 2022 and the purchase of the freehold of Youghal greyhound stadium was concluded during 2025.
Today’s report states that 351,637 patrons attended greyhound racing meetings in 2025 compared to 358,141 attending in 2024.
The number of race meetings in 2025 was 1,472 which was a slight increase on the 1,449 race meetings staged in 2024.
The average attendance at a race meeting in 2025 was 239 which was down on the average attendance of 247 in 2024.
The report also discloses that 5,874 tests were carried out on greyhounds last year for illegal substances in their system and 42 adverse analytical findings were returned which equates to 0.71%.
The level of adverse detections as a percentage of samples procured “can only be described as consistently low reflecting a high level of compliance within the industry,” the report adds.
The loss last year takes account of non-cash depreciation costs of €1.43m.
Numbers employed last year increased from 245 to 253 as staff costs rose from €10.33m to €10.5m.
The remuneration package to CEO Tim Lucey totalled €205,858 – made up of €160,000 in pay, €40,000 in pension contributions and €5,858 in benefit in kind.
Reporting by Gordon Deegan
