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BoyleSports Wants to Buy Ladbrokes' Retail Business

Irish betting firm BoyleSports has expressed an interest in purchasing the Irish retail sector of UK betting firm Ladbrokes, which has been bleeding money in recent years.

Earlier this year Ladbrokes' Irish retail sector was placed under High Court protection, and the manager appointed to oversee the rescue bid has been approached by BoyleSports management, but the specifics of such a takeover have yet to be made public.

It is possible that any takeover plan could be stymied by the rent that Ladbrokes has pledged to landlords, and as a result several retail sites could be closed. Currently the manager overseeing the Ladbrokes comeback is attempting to negotiate lower landlord payments, although no firm resolution has been completed.

Ladbrokes posted a €5 million loss in its Irish retail shops last year, leading the company to seek examinership in the country. Restructuring could potentially cost the company 60 retail spots in Ireland, causing 250 job casualties.

Casino Listings will update this story as more developments arise.

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