The popular Irish sports betting company BoyleSports could soon change hands. Reportedly, the operator is currently discussing a potential sale of its assets to another gambling company.
The Independent claims that negotiations over the potential sale are already taking place for the company, which is estimated at hundreds of millions of euros. Although the deal is kept secret, for the time being, Entain was mentioned as the gambling giant interested in making an agreement on the acquisition.
The truth is that the acquisition of BoyleSports would be a major move for any company, especially considering the fact that the last few years have seen the Irish sports betting operator expand its presence in various markets on a global scale. So far in 2022, the Irish sportsbook company has set its aspirations for expansion in the Netherlands, Canada, and Africa.
According to analysts, the acquisition of BoyleSports could be a lucrative proposition for any larger gambling company. After being established in 1982, it has managed to expand into the UK following a number of key acquisition deals. For the time being, the sports betting operator has 340 retail betting venues across the UK and Ireland, and its expansion into the online gambling market has already started to become rewarding. The company has evolved with interest in online gambling and the strong market possibilities that are being offered by the digital gambling market, where it has eventually grabbed a foothold.
BoyleSports Recently Shared Aspirations for Further Gambling Market Expansion
BoyleSports has recently unveiled additional expansion plans. The Irish sports betting company is set to enter Kenya and South Africa by 2023 as part of its efforts to take advantage of the rising interest in gambling that has been registered in those markets. As for Canada, the gambling industry of the country has started showing certain signs of life. This is exactly the reason why BoyleSports has explored entry there. The company has previously unveiled that all of its retail and online expansion projects were the centrepiece of its existing operations.
When it comes to Entain and its interest in purchasing BoyleSports’ assets, gambling market experts say that a potential acquisition could create a significant power struggle in the UK and Ireland. By taking over BoyleSports, Entain would have a global powerhouse of gaming experts to challenge some of the largest and most powerful companies in the local market, such as Flutter Entertainment, which already has a good presence in regulated markets through a bunch of its gambling brands.
In any case, before bringing any deal to a close, BoyleSports and its buyer would have to go through a customary review carried out by the competent casino regulators. The review would explore the two companies’ operations separately, as well as the effects of a potential merger if such a deal is brought to an end.
The rumours of the potential sale emerged only a month after Ireland brought one of the most significant gambling-related changes in its history. The Gambling Regulatory Authority (GRA) has been enacted, with Anne Marie Caufield appointed as a chief executive officer (CEO). Before that, Ireland had been considered the black sheep in the European Union (EU), as it was unable to establish gambling regulations for quite some time. The changes that were brought to the country’s gambling regulation with the implementation of the GRA being considered a significant step forward, although no concrete details of any future moves have been unveiled.
- Author
Olivia Cole
