Harry Crosbie and his 'Revolver': price cut is to facilitate unemployed not because of lack of interest, claims the developer

Developer Harry Crosbie has denied that the recent price cut for the Dublin Wheel, now renamed the Revolver, is an attempt to counter lack of interest from tourists since it opened earlier this year.

The 350-tonne wheel, located in the Point Village, was last week renamed and its admission price cut from €9 to €5 for a 13-minute ride. The offer is for one month only and is available on Thursday, Friday and Saturdays until 1pm.

Crosbie, who plans to open a new cinema complex in the village, maintains the price and name change is to allow people in financial difficulties to use the ride.

"It is absolutely untrue the changes were down to bad performance. A lot of people have lost their jobs and might have felt they couldn't afford this. They can now." The wheel has been open since July and is understood to have cost in the region of €10m. It is just one of nine currently in use around the world.

The man behind the Grand Canal Theatre and the 02 said he would continue to build in the Point Village. "We are the only ones left standing when it comes to continuing to build and develop. We will have a new cinema and shopping complex coming very shortly – the plans are almost finalised and there will be a full announcement over the next few weeks.

"It is difficult enough in this climate, but yet we are making a profit still. The wheel has been a success and so have the theatre, the hotel and the 02. We are still getting all the big names and the theatre is booked out for the next 15 months."