Harold's Cross Greyhound Stadium is to close with immediate effect.
The decision was made to address the Greyhound Board's enormous €20 million debts.
Instead racing will be concentrated at Shelbourne Park and 12 staff will be redeployed across the organisation.
In a statement, IGB said the decision to close Harold's Cross was taken with regret.
The weekly racing programme will be expanded at Shelbourne Park which has twice the capacity of Harolds's Cross, to 4 days a week from Friday 17th February.
IGB said: "Unless the debt issue is addressed, no viable future exists for the industry and the sale of Harold's Cross offers the most significant opportunity to reduce that debt."
