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Boylesports being or trying to be sold

  • 09-10-2022 9:59am
    #1
    vapor trails
    Registered Users, Registered Users 2 Posts: 384 ✭✭


    https://www.independent.ie/business/irish/irish-betting-firm-boylesports-in-talks-over-potential-sale-42048060.html


    Not sure who'd take them over. 888 bought hills in the UK last year but everything seems to have gone wrong in the world since that purchase so I'd say they are out of the question. Powers recently closed 15 shops and said another 50 in Ireland are critically endangered. Ladbrokes Ireland are struggling to repay a loan to their London-based PLC for a few years now and their Irish shops are the worst of the large multiples.



Comments

  • #2
    walterking
    Registered Users, Registered Users 2 Posts: 1,297 ✭✭✭walterking


    Many of the physical shops act as an advertising medium for the hugely profitable online business.

    In the UK, the permitted one arm bandits (or fixed odds terminals as the bookies prefer to call them) used to make enough profits to pay the rent and rates of the stores they operated in and some more.

    The change to max stakes from £100 to £2 meant that those who relied very heavily on this income (william hill & Ladbrokes) were going to see substantial store closures.


    Covid also moved more and more people online, so there's a glut of physical stores and any prudent business would have to make cuts.



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