Boylesports considers options after Ladbrokes Ireland ruling

Boylesports considers options after Ladbrokes Ireland ruling

Friday, June 19, 2015
Ireland's High Court ruled against Boylesports

Boylesports is considering its next move after a court ruled it could not acquire additional information from Ladbrokes about its Irish operation.

The independent bookmaker is interested in buying Ladbrokes Ireland, but said it could only make “an effective financial offer” if additional figures were provided.

It attempted to force Ladbrokes into giving that information with a High Court challenge, but Justice Brian Cregan ruled the decision by Ladbrokes and examiner Ken Fennel to not allow the requested information to be made available was properly made within the scope of the examiner’s commercial judgement.

A Boylesports spokesman told TotallyGaming.com: “We are reviewing the court's judgement and will make a decision on whether to proceed with any bid shortly.”

Fennell argued bidders had been given sufficient information and the company could be irreparably damaged by providing commercially sensitive information to competitors.

Ladbrokes in March announced that it was to undertake a review of its Irish arm after it suffered heavy year-on-year losses in 2014.

Ladbrokes has been working on a rescue plan with High Court-appointed Fennel, under which as many as 60 of its betting shops in the country could close, with 250 people losing their jobs as a result.

Betfred is also understood to be interested in acquiring Ladbrokes’ Irish arm.
 

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