BOOKMAKER BOYLESPORTS plans to buy British rival William Hill’s remaining 15 betting shops in the Republic for €1.5 million.
Both Dundalk-based Boylesports and William Hill confirmed the deal yesterday. The Irish company will pay €1.5 million for the 15 outlets.
The deal is expected to go through by December and guarantees the future of 65 jobs which would otherwise have been under threat.
The purchase will increase the number of Boylesports betting shops in the Republic to 176 and its workforce to 1,100 staff, making it the largest independent bookmaker in the State.
The company said the 15 shops would be rebranded and integrated into its existing network by mid-December.
William Hill originally had 51 betting shops in the Republic, but began closing its outlets here in 2009 as the recession began to bite. It initially shut 16 premises it said were underperforming.
Through 2010 and during the first half of this year, it closed a further 20 outlets. The 15 shops that Boylesports has agreed to buy are the last of its estate here.
The London-listed company has more than 2,300 shops in Britain. It is understood it did not consider it viable to maintain just 15 outlets in the Republic.
William Hill entered the Republic in 2005 when it acquired Stanley Leisure’s British and Irish bookmaking businesses for €730 million. The group has been concentrating on developing its online operations and has bought a number of sports-betting operations in the US.
Earlier this week, the company said it had ended takeover talks with Gibraltar-based Probability, which operates websites offering bingo, casino games and online poker.
In a statement yesterday, the British company said the sale of its Irish shops would involve a once- off charge of £2 million (€2.3 million), net of the sale price.
Boylesports chief executive John Boyle welcomed the agreement. “This latest takeover will complement our existing shops and further cement our position as the largest independent bookmaker in Ireland,” he said.
The agreement means the group is acquiring shops in locations ranging from Dublin city centre to Galway at prices that are close to the bottom of the market.
Mr Boyle founded the company in 1989. The group operates both bookie shops and online and telephone betting businesses.
William Hill launched williamhill.ie earlier this year.
The statement issued by the group yesterday said it would maintain this.
