The UK-based bookmaker Betfred was described by the Irish Independent as the most likely winner in the competition to acquire the total of 360 land-based sports betting outlets that have been sold off as a guarantee for the £2.3-billion merger between Ladbrokes and Gala Coral. On the other hand, Boylesports seems to be expected to drop out of the race for further expansion on the territory of the UK.
Up to date, hundreds of land-based shops owned by the above mentioned duo are being sold off in order for the regulatory authorities in the country to allow their merger to be finalised.
Earlier this year, Boylesports made a takeover offer estimated to €118 million for the 360 shops that are being sold. However, most industry analysts say that the company would probably have no luck in winning the bid, considering the fact that the winning bidder is set to be announced in a short period of time.
Boylesports, which was established back in 1982 and is currently the largest independent sports betting chain located in Ireland, was one of the two favourites in the process, along with the sports betting operator Betfred. The Ireland-based company has confirmed that it was interested in acquiring the betting outlets in question. Unfortunately, it is no longer considered as the most likely winner. William Hill has also been among the most speculated competitors in the race for the assets sold-off.
Earlier this year, Ladbrokes and Gala Coral’s long-awaited merger has been given the green light by the Competition and Markets Authority (CMA) of the UK. However, the two companies were forced to dispose of hundreds of betting shops due to potential issues related to competition problems in more than 600 locations.
The assets disposal has been seen as Boylesports as a fantastic chance for both the UK retail betting market and companies. Over the last few years it has been focused on making some acquisitions in order to consolidate its presence on the market and establish itself as one of the major competitors on the market. Currently, there are more than 200 betting outlets of Boylesports located in Ireland, but the operator has been seeking further expansion in Europe.
Betfred, on the other hand, is a UK-based sports betting company which operates a total of 1,370 betting outlets on the territory of the country. It has also been seeking expansion over the last few years and has seen one in the sale of the Ladbrokes and Gala Coral land-based shops. Up to date, it is exactly Betfred that is considered as the most likely winner in the competition.
- Author
Olivia Cole
