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PAC - Requested Information Diana Brannigan to: [email protected], [email protected], [email protected] 16/05/2017 17:32 Hide Details From: Diana Brannigan
17.05.16- Update to PAC on pension matter.pdf Employment Details 2012 to present.pdf
Harold's Cross Property.pdf 1GB Marketing Strategy.pdf Organisational Review.pdf
Hi Margaret
In advance of our appearance before the PAC on Thursday 18 May, please find attached the majority of the information requested.
There is one remaining piece relating to legal costs which is not transferring across on our server. Our engineer hopes to have resolved the situation by tomorrow and I will forward asap.
Apologies for the delay.
Kind regards Diana
Diana Brannigan I Personal Assistant to Interim Chief Executive Officer, Dr Sean Brady Irish Greyhound Board Green Park I Dock Road Limerick V94 Y17X
Telephone: 061 448033 Mobile: 087 195 8219 Website: www.igb.ie Feel the Speed ... Enjoy the Fun!
Disclaimer The information in this email is intended only for the addressee(s) named above. Access to this email by anyone else is unauthorised. If you are not the intended recipient of this message any disclosure, copying, distribution or any action taken in reliance on it is prohibited and may be unlawful. Please note that the Irish Greyhound Board utilises anti-virus scanning software but does not warrant that any e-mail or attachments are free from viruses or other defects and accepts no liability for any losses resulting from infected email transmissions. Any views expressed in this email may be those of the originator and do not necessarily reflect those of the Irish Greyhound Board. Please note that the Irish Greyhound Board utilises anti-virus scanning software
file:///C:!Users/falseym/AppData!Local/Temp/10/notes4A6434/~web3085.htm 17/05/2017 An Coiste um Chuntais Phoiblí Committee of Public Accounts Teach Laighean Leinster House Baile Átha Cliath 2 Dublin 2
Teil: (01) 618 3169/3790/3074 Tel: (01) 618 3169/3790/3074 076 100 1738 076 100 1738 Ríomhphost: [email protected] Email: [email protected]
09 May 2017
Dr. Sean Brady Interim CEO Irish Greyhound Board Green Park Dock Road Limerick V94 Y17X
Dear Dr. Brady
Thank you for attending the Committee meeting on Thursday 04 May, 2017. At the meeting you undertook to supply the Committee with further information raised during the course of the Committee’s examination of:
Bord na gCon 2015 Financial Statements The issues requiring a response, which follows below, is intended to act as a guideline only. It is suggested that before preparing your response to the matter raised by the Committee, you may wish to consult the full transcript of the proceedings.
The Committee Secretariat records show that the following information is to be supplied; 1. A note on the legal costs to include any outstanding legal cases and a list of legal service providers to Bord na gCon
2. A note on the pension fund to include how much it is underfunded and the steps taken to consult staff.
3. A note on staff appointments with a list of any staff changes from 2012 to present and a note on the organisational review that is being conducted.
4. A copy of the marketing strategy.
5. A note on the valuation carried out on Harold’s Cross Stadium.
The Committee would expect that this information should be forwarded within prior to your appearance before the Committee on 18 May 2017. If you have any queries I may be contacted by telephone at 618 3074.
Yours sincerely,
[PAC32-I-336] Cuirfear fáilte roimh chomhfhreagras i nGaeilge
______Margaret Falsey Committee Secretariat Committee of Public Accounts 01 - 618 3074
[PAC32-I-336] Cuirfear fáilte roimh chomhfhreagras i nGaeilge
Deficit on the Scheme
The pension deficits of the IGB defined benefit pension scheme, as, measured under the accounting standards1, have been detailed in the table below:
PENSION ANALYSIS 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007
ASSUMPTIONS: Rate of Increase in Salaries 2.25% 2.3% 2.3% 3.0% 3.0% 3.0% 3.0% 3.0% 3.5% 4.5% Rate of Increase in Pensions in payment 0.0% 1.5% 1.5% 2.0% 2.0% 2.0% 2.0% 2.0% 2.0% 2.25% Rate of increase of state retirement pension 1.5% 1.5% 1.5% 2.0% 2.0% 2.0% 2.0% 2.0% 2.0% 2.25% Discount Rate 1.8% 2.6% 2.1% 3.8% 3.9% 5.0% 5.5% 5.25% 5.75% 5.5% Inflation Assumption 1.5% 1.5% 1.5% 2.0% 2.0% 2.0% 2.0% 2.0% 2.0% 2.25%
Life Expectancy Retiring Today (members aged 65) 23.8 23.7 23.6 23.5 23.3 23.1 22 21.7 21.5 20.5 Retiring Today (members aged 40) 26.7 26.6 26.5 26.4 26.3 26.2 25.1 25 24.9 20.5
* Life Expectancy Assumption figures for 2007 - 2010 are statistical only and were not used in any IGB calculations. These figures were provided by WTW.
PRINCIPAL ASSETS & LIABILITIES €'000 €'000 €'000 €'000 €'000 €'000 €'000 €'000 €'000 €'000 Equities ------7,864 5,781 10,913 Fixed Interest 8,772 8,481 8,866 7,660 8,044 7,600 7,400 2,593 2,576 2,291 Property ------650 708 1,098 Cash 5,496 4,338 4,093 4,203 4,311 4,423 4,137 256 - - Other (Insured Assets) 426 444 343 324 295 295 276 572 1,055 902 TOTAL MARKET VALUE OF ASSETS 14,694 13,263 13,302 12,187 12,650 12,318 11,813 11,935 10,120 15,204 PRESENT VALUE OF SCHEME LIABILITIES - 19,750 - 21,401 - 23,667 - 19,026 - 19,872 - 16,106 - 14,914 - 15,353 - 14,938 - 15,214 (Deficit)/Surplus in the scheme - 5,056 - 8,138 - 10,365 - 6,839 - 7,222 - 3,788 - 3,101 - 3,418 - 4,818 - 10 Related Deferred Tax Liability ------NET PENSION ASSET/(LIABILITY) - 5,056 - 8,138 - 10,365 - 6,839 - 7,222 - 3,788 - 3,101 - 3,418 - 4,818 - 10
In the period 2007 - 2009, an average of 65% of the Groups pension assets were held in Equities and 7% in Property. From 2010 - 2016, reflecting the appetite for risk, an average of 63% of the pension assets have been held in Fixed Interest, & a further 34% in cash. Net pension liability is currently the lowest it's been since 2011, and represents a 51% reduction on 2014's liability
Values of pension investments have remained relatively static with recent increases in line with additional cash contributions to the scheme.
However the liabilities of the scheme (which are an estimate of future pension liabilities) have increased substantially due principally to the increased estimate of age of members of the scheme (e.g. member age 40 with a life expectancy of 26.7 years as compared to 20.5 in 2007) along with reduced discount rate which are influenced by the expected returns from investments and the increased cost of purchasing annuities for members due to longer life expectancy. It is expected that any growth in asset values will match inflationary increases in liabilities however this is a further risk in the scheme.
Payments into pension funds
The following represents the payments made to pension schemes during the years in question
Pension Stats:- 2012 2013 2014 2015 2016
Contributions to DB Fund 439,390 391,904 337,786 808,226 1,058,058
Contributions to PRSA/DC Scheme 58,149 44,307 102,634 147,763 140,475
497,539 436,211 440,420 955,989 1,198,533
1 Actuaries use a different method of measurement termed Minimum Funding Standards Implementation of proposal:
The revised pension proposal received Board approval in August 2016 and was adopted by the Pension Board in September 2016 with immediate adoption thereafter. All actions have been fully implemented.
Principal changes:
The changes proposed by the Trustees of the scheme and accepted by the employer IGB are as follows:
1. Pension payments from the scheme were guaranteed to be increased in accordance with CPI subject to an upper limit of 5%, such guarantees have now been removed. There is a slight variation for members with Class D social insurance contributions. 2. The DB scheme will cease to accrue for current service for remaining employed members from January 1 2019 with all remaining active service then transferring to a defined contribution arrangement. 3. An alternative defined contribution scheme has been created where IGB will contribute a minimum of 5% employer’s contribution and will match any employee contribution up to a maximum of a further 5%. 10% of the membership (3) have already transferred to this scheme 4. The scheme arrangement is to be subject to annual review.
Interaction/Communication with Staff by Executive
The communication process under a defined benefit arrangement is primarily overseen by the Trustee of the scheme albeit with employer input. A number of meetings with staff were arranged to advise and update of the position of the scheme and the options available within the scheme. Additionally the meetings were proposed to advise members of the scheme of the underlying risk that remained in the scheme without reaching a formal arrangement to address the scheme liabilities.
At the request of members four meetings were deferred. However in June 2016 separate meetings were held with unions and employee members of the union along with separate meetings of staff not members of the union. These meetings were attended by IGB management and Willis Towers Watson (advisors to the scheme) (the non-union group did not wish WTW to attend their meeting).
In advance of these meetings individual member impact statement was issued to all active members outlining the possible effect of the proposals on their pension benefits. Additionally a dedicated helpline was opened to assist any member on queries that may arise, this was staffed by pension experts from Willis Towers Watson.
The outcome of these meetings was the Union and their group were acceptable to the changes on the following conditions:
1. The scheme would remain open for pension service accrual until Jan 2021 2. Any members wishing to transfer imminently to the DC arrangement would be duly compensated
The employee group did not accept or decline the offer as noted above but requested further information.
However the Board of the IGB were of the intention to reach a conclusion on the pension matter during the term of this Board and were unwilling to concede to point 1 above but authorised that the scheme remain open for future service accrual until the end of their term which is December 2018.
This position was notified to all active members and the unions representing employees on 23 September 2016. On 27 October 2016 IGB wrote to active members advising that individual meeting arrangements was available to members in order to fully explain the terms of the pension restructure arrangement and explain their options in detail.
Meeting with trustees and advisors has been schedule for mid July 2017.
As noted the non-union group which total 5 people out of the 33 active members, did request additional information which will be supplied during 2017 as part of the normal actuarial service supplied to the company and the pension members. In a matter such as this it is natural to expect that some individual members may remain disgruntled.
Closing of Scheme to New Entrants
The scheme was closed to new entrants from 2003 and a PRSA/DC arrangement was opened from the same date.
Any other aspects
As noted the scheme had fallen into significant arrears from 2008 onwards. The scheme had failed the Minimum Funding Standard Test as set by the Pension Authorities and was long required to submit a funding proposal to address this deficit.
The cost of administering this scheme was considered quite expensive. IGB has procured these services in 2017 at more favourable rates that will offer savings of circa €50k per annum.
Prior to this funding proposal the scheme was at a risk of wind up or the company being subject to a funding call for the full value of the deficit on the scheme which would not have been affordable to pay. The wind up could have resulted in members receiving circa 40% of their individual benefits. The IGB scheme was one of the few remaining schemes to be resolved.
Majority of state sector companies have also had to make changes to their DB pension plans e.g. DAA, HRS, ESB, Bord na Mona and An Post due to similar circumstances as noted. The increased cost of funding DB schemes has resulted in a large number of benefit reductions even leading to closure and wind up of the scheme albeit in the private sector.
Principally due to reduced funding from the H&G Racing Fund and commercial challenges additional funding would not have been immediately forthcoming until 2015. All contributions due to the Defined Benefit Scheme have been paid in full with no outstanding contributions.
The future funding of the IGB scheme is built on prudent assumptions with assets being held in low risk categories as recommended by the Trustee of the scheme. In any year the IGB are involved in recruiting and replacing a large number of part time staff who have not been considered as part of this submission. Also under normal commercial business there is a continuing process of replacing personnel who may leave the organisation.
IGB have increased the full time personnel to 125 at year end December 2015, including 15 posts transferred as part of the handover of the food & beverage business to the IGB. This is an increase of 25 posts since 2012, 10 excluding the food & beverage division.
Details of the appointments are as follows:
1. Procurement Officer 2. Director of Commercial Operations 3. Director of Racing Governance and Compliance 4. Information Technology Support Staff – 2 positions 5. Welfare and Integrity Officer 6. Tote Area Manager 7. Duty Manager – Shelbourne Park 8. Financial Administrator at Cork Greyhound Stadium 9. Administrator to Regulation Department
As noted during the PAC hearing of May 4th the total number of positons in 2015 was 758 (equalling 240 full time equivalents). However to exclude employees involved in the food & beverage business the number would reduce the number to 475 positions (165 full time equivalents). This compares to a work force of 649 in 2007.
ORGANISATIONAL REVIEW
Following completion of a tender process for a Business Model Review of the Irish Greyhound Board, Preferred Results were appointed by the Board of the Irish Greyhound Board to carry out this project.
Preliminary work has been undertaken and the project is due to commence on Monday 22 May 2017 with a projected time line of 12 weeks to completion.
The tender application requested analysis of and input to the following areas:
• Process flow in business. • Value for money • Fitness for purpose • Process maps and business requirement documents.
We await the conclusion of this work.
”OUR WAY TO WIN” MARKETING STRATEGY
WINNING NEVER GROWS OLD
ROGER FEDERER AGENDA
1. BACKGROUND & JOURNEY SO FAR 2. SITUATIONAL ANALYSIS 3. OBJECTIVES 4. STRATEGY 5. AUDIENCE TARGETING 6. DIGITAL STRATEGY AGENDA
1. BACKGROUND & JOURNEY SO FAR 2. SITUATIONAL ANALYSIS 3. OBJECTIVES 4. STRATEGY 5. AUDIENCE TARGETING 6. DIGITAL STRATEGY
A TIME OF GREAT PRESSURE
A TIME OF GREAT PRESSURE Gate + ProgrammeGate + Sales Catering Income - IGB Sponsorship Income Bookmaker Advertising Attendance Numberof Meetings Attendance Ave Owners of active No
-25.0 -30.1 -31.7
-41.4
-50.4 -48.8 -48.9
-59.9
-83.0 % Change 2006-2015
BUT GREAT REASONS FOR OPTIMISM 12.5k weekly Stabilisation Industry resilience attendees Gate & Tote Income
Online Bookings Attendance growth in Increase in online exceeded €1M in 2016 bookings 2016 International demand for Racing. Database of 90,000 Improved regulatory Comingling Revenue people regime Growth
Sell out Christmas Growth in digital fan Retention of Major season base Sponsors
ECOMMERCE JOURNEY TO DATE • Integration of offline and online marketing activities. • Web sessions and web users have doubled from 2013-2016 • Online transactions have grown by 18% from 2015 to 2016 • Online revenue has grown by 24% from 2015 to 2016 • Social media fans have grown by 23% from 2015 to 2016 • Database of customers has grown to circa 90,000 customers • IGB has upgraded its digital infrastructure and capability. • Introduced and upgraded GoGreyhound Racing and stadium websites. • Episerver Content Management System and the IBM cloud marketing platform. Integration of Restaurant Diary, Episerver and IBM Platform, • Setup social media platforms. Data capture, segmentation and smart targeting based on consumer behaviour. • AECC digital marketing Strategic framework, SEO, Social Marketing and Email campaigns and activation plans.
BRAND JOURNEY TO DATE • IGB invested in a re-brand for the IGB suite of consumer brands including GoGreyhoundRacing.ie, stadium brands, tote and Barking Buzz in 2014. • This process achieved clarity around the key brand attributes. • Role of the IGB brand redefined as a corporate regulatory entity.
The consumer brand essence is described as: GREAT CRAIC, ACCESSIBLE, NOT THE NORM
The brand tone of voice is described as: LOCAL, STYLISH, FAST
Focus on marketing the sport nationally under the new consistent and more consumer facing brand (www.gogreyhoundracing.ie) IGB BRANDS RE-POSITIONING
1. Irish Greyhound Board New SBM for a differentiated brand architecture. Following a strategic brand review process it was found that the brand was in serious decline. This was caused by a series of controversies, most notably bad press from previous governance and animal rights issues coupled with a lack of investment in a tired, disparate product offering. A poor digital footprint required a new brand system that would be the foundation for the development of a major long term online marketing strategy. 3. Stadia Brands
A new strategic brand model was conceived where the IGB could exist as a standalone brand to minimise brand contamination and an exciting new umbrella brand was developed to provide a platform to stem the decline. ‘Go Greyhound Racing’ was developed as a new digital platform. Toe Stadia brands now exist as standalone brands within this new brand architecture and although linked through common visual language the brands can be promoted independently similar to Horse Racing Stadia.
The strategic brand model (SBM) lens was the process 2. Go Greyhound Racing (.ie) employed by the agency which recommended this radical reinvention over a minor adjustment.
The SBM has multiple components that reinforce each other to provide strong identifyable and promotable sub brands The focus of this phase was to understand customers’ needs and develop a brand system that meets their current propositions and key change drivers.
4 AGENDA
1. BACKGROUND & JOURNEY SO FAR 2. SITUATIONAL ANALYSIS 3. OBJECTIVES 4. STRATEGY 5. AUDIENCE TARGETING 6. DIGITAL STRATEGY IGB marketing efforts have been focused on tactical sales activity. This will continue to form part of our ongoing strategy, however, the future of the sport requires that we deal with the bigger issues, to drive reappraisal and to create demand. To grow the sport and the brand, we need to focus beyond short term sales tactics.
FROM: SHORT TERM TO: SHORT TERM PLUS SALES DRIVING TACTICS LONG TERM BRAND/SPORT ONLY (LEISURE) BUILDING THREE BIG ISSUES WE NEED TO ADDRESS
GRASSROOTS: EXPERIENCE: PERCEPTION: • participation steep decline ,not yet • the entertainment market, in which • A perfect storm of issues has recovered. IGB competes, is evolving. surrounded the perception of • Owners, trainers and supporters • IGB is marketing to the Uber greyhound racing in Ireland. contribute greatly to attendance and generation • The forces effecting the perception income. • Their expectations have risen and of the sport include concerns • The recession also had a they look for world class experiences, relating to drugs, animal welfare considerable impact on disposable that work seamlessly physically and and regulatory integrity. income for the core racing audience, digitally. • Additionally, the experience, which has compounded matters. • IGB competes with everything from amongst some, is seen as • Reduction in dog pools. local festivals, to advanced at home downmarket and old. • Reduction in Breeding. entertainment like video on-demand, • IGB needs to create re-appraisal. • The stadia, once seen as a key hub, VR and gaming. The sport and the stadium visitor have become less connected to the • Sport, hospitality and entertainment experience is vying for attention community. bodies to provide complete and share of wallet. omni-channel experiences. THREE BIG ISSUES WE NEED TO ADDRESS
owners/ enthusiasts community grassroots trainers
experience stadium digital innovation
perception welfare relevance awareness THREE BIG ISSUES WE NEED TO ADDRESS grassroots diminished status as a sport
experience young target, old experience
perception less people, less often AGENDA
1. BACKGROUND & JOURNEY SO FAR 2. SITUATIONAL ANALYSIS 3. OBJECTIVES 4. STRATEGY 5. AUDIENCE TARGETING 6. DIGITAL STRATEGY IGB OBJECTIVES
1. INCREASE AWARENESS, ATTENDANCE (TOTE REVENUE) AND RESTAURANT REVENUE ACROSS ALL IGB STADIUMS VIA THE ‘GO GREYHOUND RACING’ AND ASSOCIATED STADIUM BRANDS.
2. DRIVE RE-APPRAISAL OF THE SPORT AND THE EXPERIENCE WITH THE PUBLIC, THE INDUSTRY PARTICIPANTS AND THE FANS. WE WILL RE-BUILD FROM THE GROUND UP
PERCEPTION TRANSFORMATIVE REAPPRAISAL
EXPERIENCE RE-INVIGORATED EXPERIENCE
GRASSROOTS RE-ENAGAGED COMMUNITY GROWTH WILL BE ACHIEVED….
..BY ADDRESSING THE FOLLOWING AREAS: grassroots experience perception
THIS WILL IN TURN GROW….. ATTENDANCE // TOTE // SPONSORSHIP AGENDA
1. BACKGROUND & JOURNEY SO FAR 2. SITUATIONAL ANALYSIS 3. OBJECTIVES 4. STRATEGY 5. AUDIENCE TARGETING 6. DIGITAL STRATEGY THREE PRONGED STRATEGY grassroots 1. re-build the core
experience 2. renovate & innovate
perception 3. tell & sell our story DRIVE SHORT AND LONG TERM RETURN
1. re-build the REPUTATION grassroots core BRAND APPEAL CONSIDERATION ATTENDANCE FOOD/DRINK 2. renovate & experience TOTE TURNOVER innovate SPONSORSHIP INCOME
3. tell & sell our perception story INCREASE GRASSROOTS STRATEGY grassroots 1. re-build the core
owner / trainer engagement local community tactics program engagement
actions online web based platform events, PR, local media
increase ownership, positive sentiment from the core fan-base outcomes and increased community engagement
increased participation event attendance web traffic (engagement rates etc) pr coverage/reach measure Increased ownership and Syndicates recall/understanding
GRASSROOTS STRATEGY
grassroots 1. re-build the core
• Develop a web based ownership platform • Will enable potential owners, individuals, groups, corporates to owner / trainer engage and interact with trainers and breeders to increase the engagement ownership levels program • The platform will be a source of all relevant ownership engagement information and involvement. • The web based ownership platform will provide a mechanism for communicating with people who cannot be reached by traditional methods. • It will also allow them to satisfy any concerns they may have about ACTIVITY getting involved in ownership of a greyhound. • Promoted across online and social platforms as well as all of the DETAIL marketing infrastructure within the stadium network. • This will also include an advertising (digital/radio) and PR campaign to generate awareness of the program.
GRASSROOTS STRATEGY grassroots 1. re-build the core
• Local community and catchment area (45 min drive) engagement is local community key to driving attendance. • IGB will undertake local community engagement, telling the story of engagement greyhounds, owners, trainers, breeders and fans within the local communities. • The position of Greyhound racing in local communities has diminished over time and we will address this starting at a local community level and use modern communications platforms. • IGB will implement a series of community based activities to ACTIVITY improve the understanding of greyhound racing and the people DETAIL involved in the sport and that it is more than a social night out. • Local media engagement to help to tell our local and community message. EXPERIENCE STRATEGY experience 2. renovate & innovate
upgraded re-invented tactics experiences nights
re-inventing themed & benefit smart digital technology solutions actions nights
outcome increase attendance frequency and drive advocacy (word of mouth)
increase net promoter score, positive social sentiment (+) and measure talk-ability - pr/social sharing (+),attendance and tote increase EXPERIENCE STRATEGY experience 2. renovate & innovate
• Renovation work will be undertaken in Shelbourne Park and upgraded Curraheen Park. • Installation of Wifi in all IGB Stadia. Use smart technology to experiences improve the visitor experience and educate the leisure audience about Greyhound Racing, the core product and tote. • Supply information about the greyhounds and their owners/trainers on the night and Improve the presentation of racing for every night of operation in each stadium, with consistency and standardisation which will enhance the visitor experience. ACTIVITY • Replace EPOS systems and integrate digital marketing and DETAIL ecommerce infrastructure. This will help to personalise and customise the visitor and fan experience based on SMART technology. EXPERIENCE STRATEGY experience 2. renovate & innovate
• The product format and a night at the dogs format is mature is in re-invented need of reinvention and reinvigoration. • IGB will embark on a journey of re-invention, with new innovative nights themed nights for the “experience hungry millennal generation”. IGB will use these magnetic themed nights to link together the already popular key events for more consistent year long engagement. • Create events that will be used to drive reappraisal, trial and ACTIVITY create demand. • Move from a transaction based relationship to a more engaged DETAIL relationship based on content and interests.
PERCEPTION STRATEGY perception 3. tell & sell our story
“Go Greyhound Racing” brand ongoing tactical tactics campaign sales activity
brief advertising, digital, social & national and local radio, digital actions pr campaign targeting, CRM and direct sales
increase in dog ownership, positive sentiment from the core fan-base outcomes and increased attendance and sales
Increased consideration and attendance measure Increased revenue, online and in stadia PERCEPTION STRATEGY perception 3. tell & sell our story • IGB have focused on tactical short term leisure based sales initiatives. “Go Greyhound • At a national level however the political and media narrative has been hugely negative, creating major reputational issues within the Racing” brand industry. campaign • The next stage is to pro-actively take control of the conversation and tell the compelling story surrounding the industry, the sport, the dogs, the owners, the trainers and the fans. • Reveal the positive truths and move the perception of the Greyhound Industry from dog haters to dog lovers. ACTIVITY • This will be a major initiative for the industry and will involve every facet and touchpoint of the business from the stadia, to the DETAIL website, to advertising, social content and PR. • Provide reassurance for the public, the participants and the fans, stimulate increased participation, ownership, syndication, training and attendance. PERCEPTION STRATEGY perception 3. tell & sell our story
ongoing tactical Performance led annual activation plans, media plans, digital campaigns and strategies will target a range of segments and sales activity personas. This activity will support plans for individual Classics and a range of restaurant and general admission packages promotions monthly and quarterly. We will continue to run specific campaigns around key occasions such as Summer and Christmas periods, as well as key event dates such as Mothers Day, Fathers Day etc. These ACTIVITY plans will also include specific activity for Tour operators and Tourists to drive attendance. This activity will include national and local radio, DETAIL digital targeting, CRM and direct sales. AGENDA
1. BACKGROUND & JOURNEY SO FAR 2. SITUATIONAL ANALYSIS 3. OBJECTIVES 4. STRATEGY 5. AUDIENCE TARGETING 6. DIGITAL STRATEGY OUR MARKETING TARGETS
We have three broad audiences. CUSTOMER Each audience is interested in different messages, and we CORE must lead the conversation with each and all of those audiences. COMMUNITY WE FURTHER SEGMENT CUSTOMERS
leisure racing families corporate bettor stag/hens individuals student core fan retired oap schools s & social groups owner/trainers fundraising clubs FIT friends tourists MICE syndicates comm/conf student
WE WILL USE PRECISE AND TARGETED AUDIENCE PERSONA’S TO ENSURE WE DELIVER RIGHT MESSAGE, PLACE AND TIME FOR EACH SEGMENT AGENDA
1. BACKGROUND & JOURNEY SO FAR 2. SITUATIONAL ANALYSIS 3. OBJECTIVES AND STRATEGY 4. AUDIENCE TARGETING 5. DIGITAL STRATEGY DIGITAL ACTIVATION STRATEGY
FOUR KEY THEMES OF IGB'S DIGITAL STRATEGY ATTRACT: Search engine optimisation, pay per click advertising, social media advertising to get in front of potential leisure and tote customers.
ENGAGE: Social media marketing, blogging, email marketing & content marketing, SERP optimisation to increase brand awareness and trust and move towards conversion. CONVERT: Intuitive user experience, clear and relevant on page content with strong call to actions to drive conversion
CARE: Search engine optimisation, pay per click advertising, social media advertising to get in front of potential leisure and tote customers. SUMMARY
• Strategy begun in 2014 is evolving to deal with the issues facing the industry. • Marketing Infrastructure, tools and digital infrastructure now in place and will continue to evolve to support the requirements of the IGB and the industry. • The evolution of the strategy targets grassroots by rebuilding the core, redefining the experience by renovating and innovating to improve demand generation, and tackles industry perception by telling and selling the story of the people and greyhounds within it. • Annual activation plans to support each of these key pillars. • Debt resolution will determine the pace and efficacy of the plan.
HAROLD’S CROSS PROPERTY
On 2 May 2017, the IGB received an offer for the Harold’s Cross property comprising of circa 6 acres.
The offer of €23M is in line with market valuation as carried out by the Valuation Office, Ireland’s State property valuation organisation.
The offer is subject to contract and completion will follow the Code of Corporate Governance as supported by the Circulars underpinning the code.
The IGB has accepted the offer. Completion of the sale involves a number of steps including seeking the approval of the Minister for Agriculture, Food and the Marine and the Minister for Public Expenditure and Reform.
The largest part of the costs incurred on Legal fees in 2015 relate to a matter that arose in 2010.
Legal fees incurred in 2015 have been analysed as follows:
i. Legal fees incurred on restructure of overdraft 121,589 ii. General legal matters including regulation and racing matters 53,103 iii. The total includes all legal fees and settlement reached in October 2015 793,453
The Board have two unresolved legal cases:
i. A compromise agreement was entered into in November 2016 between IGB and an ex-employee to settle a High Court breach of contract claim taken by this individual in October 2014. The ex-employee was legally represented and following a legal review, IGB were legally advised to settle the claim.
ii. On 18 March 2009, the Plaintiff, Pat O’Donovan issued High Court proceedings against Cork Greyhound Race Company Limited (“CGRC”), a subsidiary company of the IGB. The proceedings arise from the Contract for Sale between Pat O’Donovan, as vendor, and CGRC, as purchaser, dated 28 August 1997). The Contract relates to the sale of approximately 27 acres of land at Curraheen, Bishopstown, Cork.
Mr. O’Donovan’s claim in the proceedings is for specific performance of the provisions in the Contract requiring CGRC to grant specific easements and rights of way over the Property together with alleged damages arising as a result of CGRC’s alleged failure to comply with its contractual obligations. CGRC has delivered a full Defence in the proceedings, and has received advice from Senior Counsel that it has not breached its contractual obligations in the circumstances.
Legal Service Providers in 2015:
1. Eversheds Sutherland 2. Holmes O’Malley Sexton 3. O’Flynn Exhams 4. GJ Moloney