BoyleSports in Sales Talks
It has been reported that leading Irish bookmaker BoyleSports is in the midst of a sales process. As one of the country’s biggest independent betting operators, its acquisition would come as a significant gain for any gambling firm. The potential sale comes as the operator continues its search for a new CEO.
BoyleSports is Ireland’s leading independent bookmaker. ?Gdtography/Pexels
Rumors of Entain Interest
Irish bookmaker BoyleSports is understood to be in the process of being sold, in a move that could change the face of the country’s gambling market. BoyleSports is Ireland’s largest independent betting firm, and is responsible for 340 shops across Ireland and the UK. Headquartered in Dundalk, County Louth, the business employs around 2,500 staff.
Alongside its bustling high-street shops, the operator has fostered a significant online business. Its online gambling operations are growing, with plans to branch out into jurisdictions in Europe and Canada. It also plans to launch subsidiaries in Kenya and South Africa by 2023. While the company is best known for its bookmaking services, it also offers online casino, poker and lottery products.
It is clear that the sportsbook has come a long way since it was launched in 1982 by John Boyle. Starting out life as a single betting shop in Markethill, County Armagh, BoyleSports’ expansion proved slow but steady over the next forty years. In recent years this growth has accelerated, as it acquired all thirteen of Wilf Gilbert’s sportsbooks in the Midlands in 2019 and took over 33 William Hill Shops in 2020.
While BoyleSports’ business will come as a great asset to any potential buyer, its reported sale has come as a surprise to the industry. The operator has been without a Chief Executive since July, when Mark Kemp left to join DAZN. Kemp is now the CEO of DAZN BET, the streaming service’s new betting platform.
It remains unclear who is pursuing the sale of BoyleSports, but gambling giant Entain is rumored to be an interested party. The acquisition would support Entain’s efforts to corner the Irish betting market, where rival Flutter Entertainment’s Paddy Power brand is the largest gambling operator.
Gambling Reforms
A potential deal between Entain and BoyleSports will need to go through a customary regulatory review before it can be finalized. Such a review would assess the operations of both parties separately, as well as in combination. BoyleSports has not shed any light on the potential sale, instead stating that it is focused on the continued development of its retail and online business.
Rumors of BoyleSports’ potential sale comes as Ireland adjusts to the regulatory overhaul of its gambling industry. Last month Ireland’s government confirmed the appointment of Anne Marie Caulfield as the Gambling Regulatory Authority of Ireland’s first Chief Executive.
Caulfield was selected for the new role following an open competition run by the Public Appointments Service to choose Ireland’s first gambling chief. Amongst her responsibilities, she is tasked with leading the formal integration of the Gambling Regulation Bill.
Her appointment has been welcomed by industry leaders, including Flutter Entertainment CEO Conor Grant. Commenting on the news, Grant described her appointment as a step in the right direction towards establishing Ireland’s new Gambling Regulatory Authority.
The Dáil éireann is currently going through the final motions to agree on the terms of the Gambling Regulation Bill, which seeks to update Ireland’s gambling laws and marketplace rules. Agreement has yet to be reached on legislation related to advertising rules and mandatory contributions from licensed operators to be put towards a social impact fund.
Ireland is the only EU member state not to have a regulatory framework for online gambling. The slow pace of change when it comes to modernizing gambling laws has been a cause for criticism, despite bi-partisan support for reforms.
White Paper Faces Delay
Earlier this year, Northern Ireland also introduced its own new gambling laws. As part of the most significant reforms in 35 years, bookmakers can now trade on Sundays and Good Friday. The reforms have by and large been welcomed, offering hope of an economic boost following the difficulties of the pandemic.
In April, the Betting, Gaming, Lotteries and Amusements Bill received royal assent, officially becoming law. Amongst the changes introduced was a ban on anyone under the age of 18 using gaming machines, as well as plans for a mandatory levy on licenses and a code of practice for license holders.
In the UK, plans to reform gambling laws appear to have hit yet another stumbling block. The review of the 2005 Gambling Act has taken years longer than expected, and despite reports that a white paper was to be published imminently, the issue seems to have fallen down the government’s agenda once more.
There are now concerns that the white paper could be one of a number that will be scrapped altogether by Prime Minister Liz Truss. Culture Secretary Michele Donelan recently refused to commit to publishing the white paper before Christmas, saying that it needs a lot of work before it can be finalized.
That claim was met with criticism from Donelan’s predecessor Nadine Dorries, who previously oversaw the review. She said that the reforms have already been through Cabinet sign-off before Liz Truss was appointed. At the time of his resignation in July, former gambling minister Chris Philp stated that the review was with the Prime Minister awaiting final approval.
The latest development marks the fifth major delay to the review, which has been slowed by the pandemic, the National Lottery License competition, a cabinet reshuffle and the Conservative leadership race earlier this year.
