Dr Quirkey's casino business sees pre-tax profits jump to €8.2m
Gordon Deegan
Pre-tax profits at the Dublin casino business established by Rosanna Davison’s late father-in-law increased by 5.5pc last year to €8.22 million.
New accounts filed by Dublin Pool and Juke Box Company Ltd show it enjoyed the profit increase as revenues dipped marginally from €12.96 million to €12.72 million in the 12 months to the end of June last year.
Founding shareholder Richard Quirke died on October 5th, 2024. The directors said Mr Quirke’s contribution to the business was “immeasurable”.
The former garda opened Dr Quirkey’s Good Time Emporium on Dublin’s O’Connell Street in 1976 and the renamed Carlton Entertainment business is today run by Mr Quirke’s daughter, Debbie Lawrence. Its flagship outlet is the Carlton Casino, formerly Dr Quirkey’s Good Time Emporium.
The directors said the principal activity of the company was “the provision of diverse entertainment offerings” at a number of venues in Dublin.
The pre-tax profits last year includes a non-cash €3.99 million gain arising from the reversal of an asset impairment incurred before 2023.
The profit for 2024 was also boosted by a €979,992 revaluation of a freehold property.
The profits for 2024 and 2023 followed €17.79 million in cumulative losses over the preceding four years which coincided with the impact of Covid-19 which shut down the business from March 2020 to August 2021.
The losses also coincided with an alleged €2.56 million fraud perpetrated on the business that was first uncovered by Richard Quirke and another director in December 2020.
In response to the alleged fraud, the firm hired external forensic consultants and previous accounts filed revealed that “this led to the identification of unpaid taxation and interest liabilities”.
The interest bill from the last number of years paid on overdue tax by the casino and arcade business now totals €2.74 million
This followed €149,350 paid out last year in interest on overdue tax which followed a fiscal 2023 total of €427,972, made up of interest of €136,221 and a €291,751 penalty on overdue tax.
As a result of the comprehensive investigation led by the external financial consultants, the company implemented an extensive wide ranging programme of governance and operational improvements at all levels within the organisation.
The late Mr Quirke had built up a sizeable fortune from his casino business with shareholder funds totalling €29.86 million at the end of last June, with most of the company's wealth concentrated in property with a book value of €28.7 million.
