SBC News Examiner - Parent bid tops Boylesports for Ladbrokes Ireland

Examiner – Parent bid tops Boylesports for Ladbrokes Ireland

pensladbrokesFollowing its month long review under the Irish High Court, it appears that Ladbrokes Plc rescue plan for its Ladbrokes Ireland division has trumped Boylesports €25 million bid.

On Tuesday Ken Fennell (Deloitte), the examiner appointed by the High Court to review the bid process, informed Ladbrokes Ireland creditors and other stakeholders that the examinership review favoured the plans put forward by the parent company.

Ladbrokes Plc’s proposal would involve the closing of 60 of 196 betting shops in the Republic, the operator would additionally cut 250 jobs and discharge a number of its leases.

Rival bid maker Boylesports had been critical of the examinership process, stating that it had been refused access to critical information on betting turnover and wagering volumes which would hinder its bid for the division.

Despite losing its challenge to gain access to performance based information, Boylesports governance would submit a €25 million bid. The examiner has until July 29th to finalise the rescue plan bring to the High Court for approval. The scheme will need the support of at least one group of creditors.

Check Also

CricketBet

Sky Sports to broadcast IPL in UK & Ireland

Sky Sports will show the Indian Premier League (IPL) for cricket fans in the UK …

SBC News BoyleSports boosts Best Turned Out prize pot at Irish Grand National

BoyleSports boosts Best Turned Out prize pot at Irish Grand National

BoyleSports has upped the prize pot for the Best Turned Out horse at the Irish …

bet365

BoyleSports backs John ‘Shark’ Hanlon ahead of Cheltenham Cup

BoyleSports has become the official stable partner of Irish racehorse trainer John ‘Shark’ Hanlon. The …