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04/10/2013
Lottery Licence Sale To Fund Children's Hospital
Almost half of the money from the sale of the National Lottery licence will be used to fund the construction of the National Children's Hospital, Minister for Public Expenditure and Reform has said.
A consortium bid €405m for the 20 year licence of the National Lottery and Brendan Howlin has given assurances that €200m of that will be funding for the hospital.
It is understood that payment for the lottery license will be in two stage – one when the contract is signed and the second when the licence comes into effect.
Howlin has said that it is the second payment that will be "ring-fenced" for the children's hospital.
(MH/CD)
A consortium bid €405m for the 20 year licence of the National Lottery and Brendan Howlin has given assurances that €200m of that will be funding for the hospital.
It is understood that payment for the lottery license will be in two stage – one when the contract is signed and the second when the licence comes into effect.
Howlin has said that it is the second payment that will be "ring-fenced" for the children's hospital.
(MH/CD)
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