Quirke hitting jackpot with arcade business

Businessman Richard Quirke continues to hit the jackpot with his amusement arcade and casino business increasing pre-tax profits last year by 45% to €2.74m.

Earlier this month, Mr Quirke lodged plans to modify his proposed €460m 325-hectare development that includes a casino at Two Mile Borris in his native Co Tipperary.

Mr Quirke secured planning permission for the development last June. However, Justice Minister Alan Shatter subsequently said the Two Mile Borris facility was out following a cabinet decision to provide for more modest casinos.

This sparked a review by Mr Quirke, resulting in the revised planning application that omits a casino from the 500-bedroom hotel, but provides for a casino at basement level under the planned grandstand.

The abridged accounts just filed by Mr Quirke’s Dublin Pool& Juke Box Ltd disclose that since June 30 last year “the company is continuing to purchase land and properties in order to develop a casino and leisure complex in Co Tipperary” and confirm that the firm spent €3.5m in acquiring unspecified tangible fixed assets prior to June 30 last year.

The new accounts for the firm that operates Dr Quirky’s Good Time Emporium on Dublin’s O’Connell Street show the company recorded the increase in pre-tax profits after its gross profit increased by 19% from €5.7m to €6.8m in the 12 months to the end of June 30 last.

The figures show the firm’s accumulated profits increased from €16.7m to €19m last year.

Shareholder funds stood at €27.8m, including €724,394 in cash. The figures show remuneration to Mr Quirke and Ann Quirke, including pension contributions, last year totalled €413,003 — compared to €994,003 in 2010.

The profit last year takes account of depreciation costs totalling €725,980. The filings show that the company’s properties last year valued at €24.9m, following the addition of €2.6m in property during the year.


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