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NEWS 18 October 2016

BoyleSports ‘disappointed’ Ladbrokes and Coral shops sold to Betfred and Stan James

By Dhanum Nursigadoo
BoyleSports has questioned the sale of retail outlets to the Competition and Markets Authority (CMA) following a failed bid for the locations.

It was announced over the weekend that Ladbrokes and Coral shops had been sold to facilitate a £2.7bn merger between the two companies by complying with the CMA’s ruling to reduce their presence in the UK.

BoyleSports said its bid was higher than the reported sale price. Betfred and Stan James will purchase the 359 high street stores for £55.5m upon the completion of the merger.

The Irish betting chain said its bid was fully funded and, as a company, were aware of the developing political and regulatory UK landscape enabling a deal to have been completed within two weeks of acceptance.

BoyleSports said in a statement: “BoyleSports believes the decision not to allow a challenger brand onto the UK high street is bad for retail consumers who would have benefited from the keen pricing and excellent service already available to our existing Irish retail customers and to online customers in Ireland and the UK.”

The CMA has yet to respond to the query.

RELATED TAGS: Land-Based | Legal & Regulatory | Sports Betting
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