Leisureland losses total €2.25m over past decade

From this week’s Galway City Tribune – The operating company for Leisureland in Salthill recorded a loss of more than €300,000 in 2020, after revenues were slashed by two-thirds due to the Covid pandemic.

It brings the facility’s losses to just over €2.25 million for the past decade.

Accounts filed with the Companies Registration Office for Galway/Salthill Fáilte CLG show the company made a loss of €333,013, which followed a profit of just over €54,000 in 2019.

In the ten years since 2011, the operating company has recorded losses of just over €2.25m. A significant contributor to the overall figure was in 2014, when €1,053,000 was lost because the facility closed for more than a year due to serious damage caused by flooding during a winter storm.

By agreement, losses are absorbed by Galway City Council, which owns Leisureland.

The latest set of accounts, for the year ending December 2020, show an income of just €575,810 – down from the €1.7m recorded the previous year.

The company directors said this was due to the facility being closed for much of the year because of Covid-19 restrictions.

“As a result of the restrictions and lockdowns imposed by government, the company [has had a] severe decrease in all its revenue streams from the use of Leisureland facilities during the financial year.

Revenues for 2020 included more than €343,671 for aquatics; 57,000 for gym memberships; 50,800 for golf and summer camps; €45,000 from outdoor concessions (fair operators); €36,500 in income from the hall; €18,100 from the bar in the hall and €17,470 in retail income.

This is a shortened preview version of this article. To read the rest of the story, see this week’s Galway City Tribune. You can buy a digital edition HERE.