BoyleSports acquired 33 William Hill betting shops in Northern Ireland for an undisclosed sum, making the company Ireland’s biggest retail bookie.
The John Boyle-owned chain bought all rival William Hill’s shops in Northern Ireland. The Sunday Times estimated that BoyleSports paid €12 million to €18 million (USD 20 million) for the business. BoyleSports, founded in Co Armagh, will have more than 300 betting shops throughout Ireland as a result of the deal. It also has 13 betting shops in the English midlands.
BoyleSports CEO Conor Gray said that the company was “delighted to realise its long-held ambition to develop a meaningful presence across Northern Ireland and the Isle of Man,” The Irish News reports. “This acquisition complements our existing retail network in Northern Ireland and our retail network in the Republic of Ireland while also representing a significant step in our long-stated ambition to develop our retail footprint across the UK," he added.
William Hill is closing around 700 shops as new UK regulations governing betting machines hit many of its outlets’ profitability. The restrictions do not apply in Northern Ireland, where betting regulation is devolved, but operators there mimic the rules applied in Britain.
While the deal is already in effect, BoyleSports will not take operational control of all shops for around four weeks. William Hill confirmed that all staff will transition to the Irish betting firm under existing employment terms and conditions. It's understood that 220 people will transition to BoyleSports as part of the deal.
BoyleSports, which now has a total of 317 shops across Ireland and the UK, said it has an ambition to expand its UK retail network by 100 by the end of 2020.