[3] Tramore Fáilte, an arm of the South East Regional Tourism Organisation, provided £737,000 toward start-up costs, in addition to term loans and leasing arrangements of approximately £575,000.

[2] A further £230,000-£250,000 was funded by 63 Business Expansion Scheme (BES) investors, which included employees of the Bank of Ireland, Kentz, and Tramore Fáilte.

Every turn of the revolving theatre brought visitors to 1 of 6 presentations, which involved a range of mythical and legendary characters such as a daughter of Noah, Tuatha Dé Danann, Fomorians, Partholón, Lugh, Balor, and Cú Chulainn.

This area included quizzes, information on women in Irish mythology, ogham stones, Aos Sí, an £18,000 replica Book of Kells, and an artificial tree with talking animatronic human heads.

[10] Bord Fáilte Director General Matt McNulty claimed that the project's failure was due to its design as a wet-weather facility.

[3] Its failure led to discussion in Dáil Éireann, the Irish parliament, where Kathleen Lynch questioned the then Minister for Tourism and Trade, Enda Kenny about its closure.

[12] The Minister denied the accusations, saying the assertions were untrue because both of the relevant material contracts were specifically disclosed in the BES placement document and were open for inspection, The land in question was professionally assessed, and the BES placement document made explicit mention of this appraisal, the Minister noting that it was not recognized as acceptable spending and hence had no influence on the EU grant aid.

According to Bord Fáilte, the matter of the £100,000 was brought up by an impartial consultant it hired to assess the project and was later dismissed as having no merit by the board of Celtworld.

This was mentioned at least three times in the BES placement document, where it was suggested that interested investors seek the counsel of attorneys, accountants, tax advisors, or other relevant experts to aid them in their own commercial evaluation of the project.

Permission was granted by An Bord Pleanála, controversially over-ruling a Waterford County Council decision to reject an original proposal for 36 apartments.

[16] In 2000, Ambience Catering Limited, led by Vince Power, purchased the site for "just under £50,000" and developed a 20,000 square feet music venue named South with a capacity of 2,200 guests, at a cost of €3 million.

[6] The site was sold in May 2006 to Volute Properties Limited, who received planning permission for a mixed-use development with Dunnes Stores as anchor tenants.