Boylesports confirms interest in Ladbrokes Coral Shops

Ladbrokes and Coral have put up 360 shops for sale in order to complete their proposed $3.4 billion merger. If the merger is completed, both companies will have a combined 4,000 shops under their control. Boylesports, the largest bookmaker in Ireland, have confirmed that they plan to buy the 360 shops for around £100m. Boylesports currently operate around 200 shops in the Republic of Ireland and Northern Ireland.

As part of the Ladbrokes Coral merger, The Competition and Markets Authority (CMA) identified that around 350-400 shops had to be sold in order for the merger to not overpower competing shops. William Hill is the closest competitor and they have around 2100 shops. The merger reduces local competition in 642 areas and provides healthy platforms for other betting shops.

Boylesport Retail Director, Jenna Boyle, confirmed that around 360 shops were up for sale in the first phase and that last Friday was the deadline to submit a bid. Assuming that they have done so, they supposedly face competition from Betfred, who have made no comments about their interest. If Boylesport’s bid is successful, it will be their first expansion out of the Republic of Ireland and Northern Ireland.

Boyle went on to say that the company has wanted to expand their presence in Britain and would like to make a large acquisition. She also stated that the Ladbrokes Coral merger is something that the company is definitely looking at. More information about the acquisition is set to be revealed after phase one of the process but Boyle is hoping for a successful bid to establish Boylesports in the UK. They face competition from William Hill, Betfred, Paddy Power, and Stan James, all of which already have a hold on the UK market.