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SBD Global/January 3, 2018/Finance

Trump-Owned Doonbeg Golf Resort's Revenues Rose By 30% To €6.5M In '16

U.S. President Donald Trump's investment in the Doonbeg golf resort in Ireland "may be paying off" as revenues at the resort rose by 30% to €6.5M in '16, according to Gordon Deegan of the LONDON TIMES. Accounts filed by the Donald Trump-owned TIGL Ireland Enterprises Ltd. showed that the resort recorded pre-tax losses of €2.2M, of which operating losses made up about €800,000. Trump Doonbeg Resort GM Joe Russell said that the golf operation enjoyed "record green-fee business and a steady flow of new members joining the club" while there was also renewed interest in the resort's property operation. The Trump organization invested €8M into the resort in '16 and '15. Eric Trump, Donald Trump's son, oversees the Doonbeg resort. The combined €8M investment in '16 and '15 involved a redesign of the course by Martin Hawtree. The new course opened in May '16 after two years of renovations. These costs contributed to pre-tax losses of €2.2M in '16 with non-cash depreciation costs making up €1.3M of that amount. The €2.2M pre-tax loss for '16 was a 14% decline on the pre-tax losses of €2.57M sustained in '15 (LONDON TIMES, 1/2).
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