Irish Sportsbook BoyleSports Reportedly Discussing Sale to Another Gaming Operator
Posted on: October 10, 2022, 10:54h.
Last updated on: October 10, 2022, 12:09h.
BoyleSports, the go-to sports betting company in Ireland, could soon have a new home. The news comes from Independent.ie, which claims to have the exclusive inside track.
Negotiations are reportedly already taking place for the company, which the media outlet says is worth “hundreds of millions of euros.” While the deal is mostly under wraps, Entain was mentioned as a company with interest in the acquisition.
Acquiring BoyleSports would be significant for any company. It has an established presence in Ireland and the UK, and is working on expansion. This year, it set its sights on the Netherlands and Africa, as well as Canada.
BoyleSports Offers Great Potential
At the right price, acquiring BoyleSports could be a lucrative proposition. The company has 340 retail betting establishments in the UK and Ireland, and its expansion into the online space is already beginning to produce rewards.
The growth has followed normal progression. BoyleSports is an Irish company that began in 1982. Since then, it expanded into the UK after making several key acquisitions. Evolving with the interest in online gaming and strong market possibilities, it then set out to enter the digital market, where it has grabbed a foothold.
The company, which recently lost former CEO Mark Kemp to DAZN, also announced additional expansion plans. It is moving into Kenya and South Africa by next year, taking advantage of significant gaming interest in those markets.
With Canada’s expanded gambling industry beginning to show signs of life, BoyleSports has been exploring entry there, as well. It hasn’t confirmed its end game, but has stated that all of the retail and online expansion projects are at the center of its current operations.
Should Entain be the company interested in purchasing BoyleSports, it could create a significant power struggle in the UK and Ireland. Flutter Entertainment, the company behind Paddy Power and others, already has a good grasp of the markets. By acquring BoyleSports, Entain would have a global powerhouse of gaming experts to challenge that position.
Before finalizing any deal, BoyleSports and its suitor would have to go through the customary regulatory review. This would explore their operations separately, as well as what would happen once they merged.
Ireland Gaming Undergoes Transformation
News of the potential sale comes only a month after Ireland made one of its most significant changes related to gaming. The country now has its new Gambling Regulatory Authority (GRA), of which Anne Marie Caufield will be CEO.
Ireland has been somewhat of a black sheep in the European Union, unable to pin down its gaming regulations. That changes with the new GRA, although there are no concrete details of what might be coming.
One thing that is certain is that new taxes are on the way. Some insiders believe that, once the final numbers are in, the gaming industry could see a reduction in revenue by anywhere from 10% to 16%.
This is amid the struggles currently in the UK, which is witnessing meteoric inflation and an uncertain short-term future. It will also, at some point, welcome new gaming regulations of its own.
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