Ireland’s largest independent betting company BoyleSports is said to be in a sale process that could lead to a major upheaval in the Irish gambling market.
oyleSports is headquartered in Dundalk, Co. Louth, has 340 stores in Ireland and the UK and employs around 2,500 people. It also has a growing online business expanding to Europe, Africa and Canada.
Market sources said the company, founded in 1982 by entrepreneur John Boyle, would be priced in the hundreds of millions of euros.
Sources also said the betting company has long been viewed as an attractive acquisition target, but its sale is seen as a result of “time and price.”
The company has been without a chief executive since February, when Mark Kemp left the bookmaker after less than a year at the top job.
Kemp, a veteran gaming executive, had succeeded John Boyle’s son-in-law, Conor Gray, who transitioned from CEO to International Development Director.
“We have a fabulous company and it’s natural that there will be interest”
When Kemp left in February, it was reported that Boyle, 66, would be returning to a managerial role.
At the request of Sunday independentA spokesman said: “As a company, BoyleSports is focused on developing its retail and online businesses.
“We are soon celebrating our 40th anniversary serving customers in Ireland and the UK, have just opened our 300th Irish retail store and are on the verge of launching BoyleSports in South Africa.
“We have a fabulous company and it’s natural that there will be interest.”
As already reported in the Sunday independentis moving ahead with plans to launch its online betting platform across multiple continents.
It is planned to be launched in Kenya in early 2023. It also goes through the licensing process in the Netherlands.
The Company has also worked on license applications in Ontario, Canada, as well as license applications in South America.
The Irish bookmaking market is now dominated by Flutter’s Paddy Power and BoyleSports.
When BoyleSports acquired Tully Bookmakers in 2021, the Competition and Consumer Protection Commission (CCPC) said that after the transaction BoyleSports would own 286 of Ireland’s 798 local betting shops. This represented 36 percent of bookmakers in the state.
It has been estimated that Paddy Power accounts for about 40-45 percent of the market.
Significant changes are currently taking place in the gambling sector, with increased regulation taking place in Ireland and the UK.
Meanwhile, several other markets are opening online betting.
Active buyers in the market right now include Ladbrokes owner Entain, who pledged to buy BetCity in the Netherlands for up to €850m in June.
https://www.independent.ie/business/irish/irish-betting-firm-boylesports-in-talks-over-potential-sale-42048060.html Irish betting company BoyleSports in talks over potential sale